FX168 Express is divided into stock market trends, commodity futures, bond convergence, market indexes, domestic news, and international news, which gather major domestic and foreign events that occurred in the Asian market today.
On Monday (November 15), the Asian market experienced volatility in the financial market. The U.S. dollar index fell rapidly in the short-term, and the index once fell below the 95 mark. What is more surprising is that the weakening of the U.S. dollar did not provide a boost to the price of gold. On the contrary, the short-term spot gold also plummeted. Analysts pointed out that the weakness of the U.S. dollar was mainly affected by the key US data last Friday, and the weakening of gold may be attributed to a news that triggered a warming of market risk appetite, thereby hitting gold bulls.
FXStreet analyst Anil Panchal wrote a new article on Monday that the US dollar index has taken a breather after its biggest weekly gain since August. Last Friday, the weak data poured cold water on the Fed’s interest rate hike expectations, pulling down U.S. Treasury yields and the U.S. dollar index.
A widely watched survey published last Friday showed that US consumer confidence fell to its lowest level in 10 years in early November. As inflation soared and family living standards fell, almost no one believed that policymakers were taking sufficient measures to ease the situation. This question.
The initial value of the University of Michigan Consumer Confidence Index in November fell from 71.7 in October to 66.8, the lowest level since November 2011, and well below the median of 72.4 estimated by analysts in a Reuters survey.
Financial website Forexlive commented that this is the lowest level in 10 years. The University of Michigan pointed out that a quarter of consumers said their standard of living has declined due to inflation. Half of the households expect their actual income to decrease next year.
In early Asian trading on Monday, the 10-year U.S. Treasury yield was under pressure at around 1.56%, down 1.6 basis points during the day.
Although U.S. Treasury yields were weaker than the US dollar, gold prices also weakened in Asian markets on Monday. Spot gold has just plummeted in the short-term, with the lowest hitting $1857.10 per ounce. Some analysts pointed out that the news that the United States may cut tariffs on China has heated up market risk appetite, which has discouraged safe-haven buying of gold.
(Spot gold 15-minute chart source: FX168)
On Sunday (November 14) local time, US Treasury Secretary Janet Yellen said that the United States is willing to consider reducing some of the tariffs imposed by the Donald Trump administration on China.
In an interview with CBS, Yellen said: “As U.S. Trade Representative Katherine Tai said, we are reviewing the first phase of the trade agreement and acknowledging the requirement to reduce tariffs in some areas. This is of course something we are considering. .”
In 2018, the Trump administration imposed US$350 billion worth of tariffs on steel, aluminum and some products from China to offset Beijing’s so-called “unfair trade practices,” which the Chinese side denied. Since Biden took office, the U.S. government has been facing pressure from the American Business Association. They said that the heavy tariffs have caused great harm to them in addition to the current disruption of the U.S. transportation system.
The U.S. October Consumer Price Index (CPI) rose 6.2% year-on-year, the highest level in more than 30 years. Continued concerns about inflation have caused gold prices to rise for the second consecutive week. Spot gold rose by approximately 2.55% or US$46.41 last week.
Last week, 18 Wall Street analysts participated in the Kitco News gold survey. Among the respondents, 15 analysts (83%) believe that the price of gold will rise this week. At the same time, two analysts (11%) are bearish on the recent gold price, and one analyst (6%) has a neutral view on the price of gold.
As inflation continues to rise, people’s interest in gold has rekindled. Some analysts said that growing concerns about the Fed’s loss of control will continue to support gold prices.
Adrian Day, President of Adrian Day Asset Management, said: “The inflation wizard has come out of the bottle and will not come back for a while. When generalist investors turn to gold, even if only a small amount of allocation is made, this change can be huge. ”
Colin Cieszynski, chief market strategist at SIA Wealth Management, said that he expects the price of gold to continue to rise because the breakthrough of $1,835 is a major breakthrough. He added that the rebound in silver and platinum should also consolidate gold’s new gains.
However, not all analysts are optimistic about the recent trend of gold. Ole Hansen, head of commodity strategy at Saxo Bank, said he expects the price of gold to fall back to $1,830.
Marc Chandler, managing director of Bannockburn Global Forex, said that despite the impressive rise in gold prices, he does not believe that gold prices can withstand the resistance caused by rising U.S. bond yields and a stronger dollar.
Chandler said: “It may be that the driving force is changing, but I am skeptical. For people who are bullish on gold, a stronger U.S. dollar and rising yields are the traditional bane. The US economy began to grow at an annual rate of 2% in the third quarter. Accelerate. Therefore, the US retail sales and industrial production data this week should be very strong. I envision gold prices between 1815 and 1825 dollars for testing.”
South Korea raises the highest level of alert for bird flu outbreak in multiple countries
According to Reuters, with the advent of winter and the migration of birds, bird flu outbreaks have occurred in many European countries in the past few weeks, including the United Kingdom, France, Germany, Italy, the Netherlands, and Denmark. In addition, India, Japan, and South Korea have also recently experienced bird flu epidemics and have to take measures to culminate poultry and birds.
There have been many outbreaks of highly pathogenic H5N1 avian influenza in the UK in recent days. Christina Middlemis, the chief veterinary officer of the British government, confirmed on November 13 that a farm in Lancashire was the location of the latest outbreak.
According to the British “Mirror” report on November 13, this farm is located in Salwick near Preston. The British Ministry of Environment, Food and Rural Affairs has ordered all poultry on this farm to be culled. Within 3 kilometers and at least 10 kilometers around the farm are divided into protected areas and monitoring areas, involving four cities and towns including Preston.
Japan’s Ministry of Agriculture, Forestry and Fisheries announced on November 13 local time that a highly pathogenic avian influenza epidemic has occurred in a chicken farm in Izumi City, Kagoshima Prefecture in the south, and about 40,000 chickens raised on the chicken farm will be culled. . This is the second bird flu outbreak in Japan during this season.
Japan’s Ministry of Agriculture, Forestry and Fisheries announced on November 10 that a highly pathogenic avian influenza had occurred in a chicken farm in Yokote City, Akita Prefecture, northern part of the country, and more than 140,000 chickens had to be culled. According to Japanese media reports, the avian influenza epidemic in Akita Prefecture was caused by the H5N8 subtype avian influenza virus.
On November 13, South Korea’s Ministry of Agriculture, Forestry, Livestock and Food stated that another duck farm in Naju City, South Jeolla Province, had detected highly pathogenic avian influenza virus. In just one week, three bird flu epidemics occurred in South Korea one after another, which aroused the attention of the society. This is the duck farm where the H5 highly pathogenic avian influenza outbreak occurred. Anti-epidemic personnel have set up checkpoints here to prohibit outsiders and vehicles from entering.
South Korea raises the highest level of alarm
According to Yonhap News Agency reported on November 10, after a highly pathogenic avian influenza virus was detected in a quail farm in Eunseong County, Chungcheongbuk-do, South Korea, Prime Minister Kim Phu-gum on the 10th instructed relevant departments to quickly strengthen epidemic surveillance and implement various preventive measures. This is the first highly pathogenic avian influenza outbreak in South Korea after a lapse of 7 months.
Jin Fuqian asked the Ministry of Agriculture, Forestry, Livestock and Food to carry out preventive culling of poultry farms located within a radius of 500 meters from the farm, and quickly implement various preventive measures in accordance with standard operating procedures (SOP) to prevent spreading to other areas, and take precautionary measures. Control measures. He called on relevant departments and local governments to work closely together to eliminate dead spots in epidemic prevention. Jin Fuqian pointed out that under the current situation of the new crown epidemic, if the bird flu epidemic occurs again, it will inevitably cause more disasters to farmers. Including Chungcheongbuk-do, Chungcheongnam-do and Jeollabuk-do, which have recently detected bird flu viruses in wild birds, should also pay attention to the prevention and control situation.
At present, South Korea has raised the bird flu crisis alert level to the highest level of “serious” and said it will strengthen the monitoring of poultry farms across the country to prevent the spread of bird flu again.
In India, according to the “New India Express” report on November 14, a large number of deaths of migratory birds have been found in some areas of western Rajasthan. A report from the National Institute of High-Safety Animal Diseases in India confirmed that these dead migratory birds were infected with the H5N1 avian influenza virus. At present, the Indian side has asked localities to properly dispose of bird carcasses to prevent the spread of the epidemic; and dispatched medical teams to assist the affected areas in formulating epidemic prevention and control plans.
【Chinese Stock Market】
The Shanghai Composite Index closed at 3,528.88 in the morning, a decrease of 0.29%;
The CSI 300 Index closed at 4874.12 points in the morning, a decrease of 0.29%;
The Shenzhen Component Index closed at 14616.42 in the morning, a decrease of 0.60%;
The GEM index closed at 3395.77 points in the morning, a decrease of 1.00%;
The small and medium-sized board comprehensive morning closed at 13942.90 points, a decrease of 0.44%.
[China Automobile Association: October auto companies exported 231,000 vehicles, a year-on-year increase of 1.1 times]According to the statistical analysis of the China Association of Automobile Manufacturers, in October 2021, automobile exports set a new historical record, among which the contribution of new energy automobile exports to growth was 43.3%. In October, auto companies exported 231,000 vehicles, a month-on-month increase of 33.8% and a year-on-year increase of 1.1 times. From January to October, auto companies exported 1.594 million vehicles, a year-on-year increase of 1.2 times.
[Beijing Zhongguancun Sub-district notified an express delivery package that tested positive]In the early morning of November 15, Beijing Zhongguancun Street received a notification from the Haidian Center for Disease Control and Prevention that a resident of Keyuan Community tested positive for a package of express items sent by Xilin Gol League in Inner Mongolia Autonomous Region. Zhongguancun Sub-district immediately initiated an emergency response, and carried out nucleic acid testing of relevant personnel and the environment as soon as possible. At present, the results of nucleic acid tests involving close contacts and the environment are all negative.
[National Bureau of Statistics: Consumer prices will continue to rise moderately]National Bureau of Statistics spokesperson Fu Linghui said at the press conference that in the next stage, my country’s grain production is expected to have another bumper harvest. Live pig production capacity is now generally restored, and pork prices are still declining year-on-year, which will reduce the increase in CPI. At the same time, from the perspective of the overall supply of industry and service industries, the market supply is still relatively sufficient, and the CPI does not have the basis for a sharp rise. Based on these circumstances, my country’s economy is expected to continue to recover steadily, and consumer prices will continue to rise moderately.
[NationalBureauofStatistics:FromNovember4thto11ththepurchasepriceof5500kcalcoastalthermalcoalwas1095yuan/tonwhichdroppedsignificantlyfromOctober]According to data released by the National Bureau of Statistics, on October 29, the comprehensive trading prices of 5,500, 5,000, and 4,500 calories of thermal coal at Qinhuangdao Port were 1,202, 1,096, and 961 yuan per ton, respectively, up from September 24. 123 yuan, 116 yuan and 104 yuan. From the perspective of China’s coastal coal purchase price (comprehensive price), from November 4 to November 11, 5,500 kcal was 1,095 yuan per ton, a significant drop from October.
[The UK will announce this week a new target of 1 trillion pounds in exports per year by 2030]According to the British “Financial Times”, the British Minister this week will announce the goal of exporting 1 trillion pounds per year by 2030. A new plan “Made in Britain, sold to the world” will be launched, and the United Kingdom will also launch various measures to promote overseas trade by providing financial support. The Secretary of State for Trade of the United Kingdom stated: “This is the first export strategy since Brexit. Statistics show that only about 10% of British companies sell products overseas.” In 2012, former British Prime Minister Cameron promised to achieve 10,000 by 2020. The export target of 100 million pounds. But before the outbreak of the new crown in 2019, the UK’s overseas sales only increased to 689 billion pounds.
【New energy vehicles Tesla ranks first in market share, Wuling Hongguang and BYD rank second and third】South Korea’s “Asia Daily” reported on November 14 that market research agency TrendForce announced on the 14th that as of September, global sales of new energy vehicles exceeded 4.2 million vehicles this year. Specifically, from January to September this year, global sales of electric vehicles reached 2.92 million, an increase of 153% over the same period last year. 1.28 million plug-in hybrid vehicles were sold, a year-on-year increase of 135%. In terms of auto companies, Tesla has the highest market share at 21.5%; China Wuling Hongguang has a share of 9.8%, ranking second in the world, and BYD (6.3%) and Volkswagen (5.7%) are ranked third and No. Four.
[Musk still needs to sell at least 10.7 million Tesla shares before fulfilling the 10% share sale promise]According to documents disclosed by the SEC, Tesla CEO Elon Musk sold further shares yesterday. As of now, Musk has sold approximately 6.34 million Tesla shares since November 8. Earlier, Musk had promised to sell 10% of Tesla’s shares, or 17.05 million shares, on Twitter. Now, Musk’s cumulative shares sold only account for 37.1% of his commitment, and he needs to sell at least 10.7 million shares. Sla stock.
[The number of resignations in the United States in September hit a record high]According to data released by the US Department of Labor on November 12, local time, a total of 4.4 million Americans resigned in September, and the number of resignations hit a record high. The data shows that the largest increase in the number of resignations is in the arts, entertainment and recreation industries, followed by the service and education industries. Return to Sohu to see more
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