【TOP1 Evening】 USD is bleeding while crude oil and gold surge

Crude oil: Oil prices continue to rise

US WTI crude oil futures prices rose 25 cents, or 0.38%, to 66.53 US dollars per barrel, close to the two-year high hit earlier this month, and rose 1.4% overnight to rise above 66 US dollars.

Brent crude oil futures prices rose 29 US cents, or 0.42%, to US$69.75 per barrel.

The price of natural gas rose 0.13% to US$3.124.

At midday in Asia on Tuesday, oil prices continued to rise slightly after the overnight surge. Major economies such as the United States and Europe continued to recover from the public health crisis and boosted fuel demand, offsetting the weakening of demand in parts of Asia due to the outbreak of the epidemic again. Negative impact.

Thanks to the vaccination of a large number of people, the economic recovery of major economies and the resumption of personnel mobility have improved the prospects for fuel demand and pushed oil prices to rise by more than 35% so far this year.

Gold: Gold futures hit a new high

Spot gold prices rose 2.32 US dollars, or about 0.12%, to 1,69.13 US dollars per ounce.

The price of gold futures rose 1.6 US dollars, or about 0.09%, to 1869.20 US dollars per ounce, and rose to 1874.25 US dollars in intraday trading, a new high since February 1.

At midday in the Asian market, gold futures prices hovered around US$1870, hitting a three-and-a-half-month high during the session, as the US dollar was close to a three-month low, despite the US Federal Reserve Bank of Dallas President Robert Kaplan's call for currency normalization to begin.

Investors worry that signs of rising inflation will force the Fed to raise interest rates sooner than expected. However, the President of the Dallas Federal Reserve Bank of the United States, Robert Kaplan, said on Monday that inflation will not become a problem anytime soon, and reiterated that no interest rate hikes are expected before 2022. But he called on the Fed to begin normalizing its policies.

Forex: USD goes down

The U.S. dollar suffered heavy selling pressure and fell below the 90 mark, the lowest hitting 89.88, the lowest since January 7 this year; the euro/dollar once approached 1.22, the highest rose to 1.21996; the pound/dollar as high as 1.42.

"Given that the U.S. dollar has not rebounded sharply since its sell-off last week, this tells me that the driving factor is not the foreign exchange market, but the interest rate market," said Marc Chandler, chief market strategist at Bannockburn Forex. "If interest rates do not rise, it is difficult to see The U.S. dollar has gained a lot of upward momentum."

The euro rose to 1.22 against the dollar, the highest level since February. The reopening of the economy in Europe is to support the euro, and the Fed’s dovish sentiment puts pressure on the US dollar. It is expected that the currency pair will have more room for upside.

Euro has surpassed the May high of 1.2180 against the US dollar, and the next level to watch is 1.2225, which is the highest level reached earlier this year. It is expected that the euro against the dollar will encounter greater resistance at 1.2240, which is the high point in February.

Stock market: European stock markets rose early

The British FTSE index was last reported at 7089 points, up 57 points, an increase of 0.81%; the German DAX index was last reported at 15,504 points, up 107 points, or an increase of 0.7%; the French CAC index was last reported at 6,402 points, an increase of 35 points, an increase 0.55 percent.

After the Hong Kong stock market opened higher, the Hang Seng Index rose by more than 1.4%. The oil, online games, steel, property management, aviation, and mining sectors were among the top gainers, while the beauty, paper, and photovoltaic solar sectors fell. The Hang Seng Index rose 1.42% to 28,593.81 points.