Financial breakfast on August 10: increased demand for safe havens boosted gold

Wednesday (August 9) coincided with the 10th anniversary of the global financial crisis. The European and American markets, which were originally flat, became active due to the escalation of tensions between the US and the DPRK. The main safe-haven varieties of gold, silver, and Swiss francs have risen sharply. The panic index VIX also hit a new high in a month, while the European and American stock markets fell across the board. The overall market is centered around risk-averse games, but given Friday (August 11th) US July inflation data will be released, the dollar trend is expected to be further clarified, when the price of gold will also be greatly affected. In addition, after the oil price in the US EIA gasoline stocks rose more than expected, the intraday trading was repeated, but the market continued to close the Zhongyang line. The overall trend is quite platform-organized, and it is ready to break through. On Thursday (August 10th), OPEC will announce the monthly crude oil market report. Whether the oil price can be extremely good or not depends on the results of the report.

Thursday Preview:

09:10 New Zealand Federal Reserve Chairman Graeme Wheeler attends the Congress.

22:00 William Dudley, Chairman of the New York Fed and FOMC Permanent Press, participates in an economic briefing on employment trends and uneven pay.

--:-- Saudi and Iraqi oil ministers will discuss measures to support oil prices, and will hold a press conference thereafter.

--:-- The Organization of Petroleum Exporting Countries (OPEC) announced the monthly crude oil market report, the specific announcement time is to be determined (usually announced around 18-20 points in Beijing time).

Review on Wednesday:

1 New Zealand Federal Reserve keeps interest rates unchanged, reaffirming that monetary policy will remain accommodative

2 Federal Reserve Brad: US economic growth rate may remain close to 2% in the next few years

3 Federal Reserve Evans: The Fed announced in September that the contract is reasonable

4EIA crude oil inventories fell more than expected, but gasoline inventories increased significantly

5 US House of Representatives Republican Cole: Trump budget is a priority for Congress

6 former European Central Bank President Jean-Claude Trichet: The situation of commercial banks has changed greatly from a decade ago

7British Brexit Davis: Achieving convergence of opinions is a key issue in Brexit negotiations

8 China's CPI rose slightly in July, and the PPI rose from falling.

stock market

Global stock indexes fell on Wednesday due to geopolitical tensions. The volatility index V2TX, which measures investor tensions in European stock markets, rose to a two-week high, but remained at a low level, while the US stock market volatility index VIX hit a one-month high. Gold mining stocks Randgold Resources and Fresnillo were the only stocks in the UK's FTSE 100 index, rising 2.8% and 4.9%, respectively, as investors turned to gold to hedge.

futures

In addition to the above quotes for gold, silver and crude oil, Huitong.com also quotes the Shanghai Gold Exchange for you.

Gold rose to a two-month high on Wednesday. North Korea said earlier, considering the US Pacific 601,099, attending stocks territory of Guam attacks, US President Trump show off the strength of the US nuclear arsenal. With the rise in risk aversion, gold prices recorded the biggest one-day gain in nearly three months. Tensions have stirred the global market, allowing investors to flee the stock market and buy safe-haven Swiss francs, bonds and gold. From the perspective of the gold market, unless the geopolitical conflict is further strained, the risk aversion will gradually dissipate. At the same time, the US July inflation data will be released this Friday. The trend of the US dollar will indirectly affect the direction of gold. Therefore, the price increase of gold still needs to be determined by the clear direction of the US dollar. In terms of oil prices, the US EIA gasoline stocks exceeded expectations and did not drive down oil prices. Cloth oil closed at near highs. The oil machine has shown signs of resilience, and the overall trend has a tendency to break through the box shock range, but the specific trend is likely to be affected by the monthly report of OPEC crude oil on Thursday.

Foreign exchange

The US dollar index fell slightly on Wednesday as the market waited for the US July CPI to be released on Friday. In addition, from the speeches of the Federal Reserve Board of Directors Evans and Brad on Wednesday, the Fed is surprised by the weak inflation, and there is no greater confidence in the inflation rebound in the short term. Therefore, although the CPI data on Friday may rebound slightly as expected, it remains to be seen whether the overall inflation will pick up.

[New Zealand Federal Reserve maintains interest rate unchanged, reaffirming that monetary policy will remain loose] The New Zealand Federal Reserve maintained its official cash rate (OCR) unchanged at a record low of 1.75% on August 10, and reiterated that it will be for a long time. Maintain a loose monetary policy. The New Zealand Federal Reserve said that the non-trade port 00536 expansion is still moderate, but it is expected to gradually increase as capacity pressure increases.

[Federate of the Federal Reserve: Brad: The US economic growth rate may remain close to 2% in the next few years] The Federal Reserve’s Brad said that the US economic growth rate may remain close to 2% in the next few years. The table will start in a slow and gradual manner. The low unemployment rate in the United States will not put too much pressure on prices. This year's inflationary rally is not too optimistic. There are some risks that the FOMC is too radical on the interest rate issue. The G7 countries are in a period of low growth and low inflation.

[Federd Evans: The Fed announced in September that the contract is reasonable] Fed Evans said that the Fed announced in September that the contract is reasonable, do not believe that the risk of financial stability is particularly high. Shrinking the table is unlikely to have a major impact on financial markets. The Fed’s policy is still loose, and GDP growth in the second quarter is good. The goal of inflation reaching 2% in the next few years is a reasonable outlook. Weak salary indicates that there is still room for growth in the labor market.

[EIA crude oil inventories fell more than expected, but gasoline inventories have increased significantly] EIA report: US crude oil inventories fell for six consecutive weeks. US refined oil stocks recorded a decline for four consecutive weeks. US gasoline inventories recorded growth after a seven-week decline and hit a new high in 27 weeks.

[Cole of the US House of Representatives Cole: Trump budget is a priority for Congress] Cole, Republican, Republican House of Representatives. The Trump budget is a priority for Congress. A debt ceiling agreement will be reached by September 30th. The debt ceiling issue needs to be addressed and will be resolved. The government will complete the tax reform this year. Trump hopes to be straightforward on the North Korean issue.

[The former European Central Bank President Jean-Claude Trichet: The status of commercial banks is much better than a decade ago] The former European Central Bank President Jean-Claude Trichet said that overall, the situation of the bank is better than before the financial crisis ten years ago. too much. The ability of the central bank and the government to cope with another recession may be limited. Some European countries have fewer choices than the US, even before the recession begins, there are significant risks.

[British Brexit Minister Davis: Achieving Convergence of Opinions is a Key Issue in Brexit Negotiations] The British Brexit Minister Davis said that achieving convergence is a key issue in the Brexit negotiations. The latest Brexit negotiations have been difficult, but in the end it has been effective. An important step has been taken in the Brexit negotiations. There are many positive news in the second round of the Brexit negotiations.

[US Secretary of State Tillerson: North Korean leader Kim Jong-un does not understand the US diplomatic language] US Secretary of State Tillerson said that North Korean leader Kim Jong-un does not understand the US diplomatic language. US President Trump will send a strong message to North Korea’s top leader to make North Korea understand the US position. According to foreign media reports, US Secretary of State Tillerson does not believe that North Korea has brought an imminent threat.

[British central bank: UK inflation may be close to peak] Bank of England: Consumer spending has slowed in recent months. Manufacturing output growth is accelerating, and the depreciation of the pound is conducive to exports. UK inflation may be nearing its peak.

[Australian Federal Reserve Assistant Chairman Kent: The appreciation of the Australian dollar is actually a question of the depreciation of the US dollar] Australian Federal Reserve Assistant Chairman Kent said that the appreciation of the Australian dollar is actually a question of the depreciation of the US dollar. A further appreciation of the Australian dollar will lead to a slight decline in domestic economic growth. The revaluation of the Australian dollar and the inability to link commodity prices may hinder economic growth.

Domestic macro

[China's CPI rose slightly in July, and the PPI rose from the downturn.] National Bureau of Statistics: China's CPI in July 2017 rose slightly, and the PPI rose from the downside. In July, CPI rose by 1.4% year-on-year, down 0.1 percentage point from the previous month. In July, the CPI rose by 0.1% from the previous month, and the trend was basically stable. In July, the PPI rose by 5.5% year-on-year, and the increase was the same for three consecutive months. In July, the PPI rose by 0.2% from the previous month, mainly due to the rising prices of steel and non-ferrous metals.

[National Development and Reform Commission: China has achieved effective results in reducing corporate leverage] National Development and Reform Commission: China has achieved effective results in reducing corporate leverage. Corporate debt risk has been effectively controlled. The level of leverage of Chinese companies has begun to decline. Focus on doing a good job of state-owned enterprises to reduce the leverage ratio of enterprises, and actively explore ways to effectively dispose of debts of zombie enterprises. Taking the opportunity of debt-for-equity swaps to promote the reform, restructuring and restructuring of enterprises, especially state-owned enterprises.

Domestic stock market

[The Shanghai index has fluctuated slightly, and the cyclical sector has soared.] The two cities have a total of 38 daily limit, and the number of daily limit increases by one from Tuesday. The Shanghai Composite Index closed at 3,275.57 points, down 0.19%, with a turnover of 237.8 billion. Shenzhen Securities Index closed at 10,544.59 points, up 0.46%, with a turnover of 259.5 billion. Coal mining, liquor and rare earth sectors were among the top gainers.

Domestic property market

[Shenzhen accelerated shed improvement process, new rental community is ready to go] According to the Securities Times, the Shenzhen Municipal Housing and Construction Bureau recently organized the drafting of "Several measures to speed up the transformation of shantytowns (draft for comments)", which led to extensive market discussions. In addition to the definition of urban renewal and shed reform, the new rental community is eager to come out after the shed reform, and it seems to be in line with the “window” that is closely related to the development of the housing rental market.

Domestic industry

[Coal price continues to rise] Since July, the average settlement price of thermal coal has been RMB199.85/ton, up 1.86% from the previous month and up 49.07% from the same period last year. The average purchase price of thermal coal was 196.68 yuan / ton, down 4.33% from the previous month and up 46.80% year-on-year. According to the analysis of the Inner Mongolia Autonomous Region Price Monitoring Center, in August, the high temperature weather will gradually decrease, and the coal supply will further increase. It is expected that the coal price will stabilize and fall.

Pajamas Dress & Pajamas Robe

100% cotton dress, soft and comfortable

Loose version, enlarged dimension design, free and comfortable

SHAOXING LIDONG TRADING CO.,LTD , https://www.lidong-garment.com