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Oil prices plummeted 12% as Trump suspended bombing of Iraq, and China's central bank increased its gold holdings for 17 consecutive months
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Hello everyone, today XM Forex will bring you "[XM Foreign Exchange Market Analysis]: Trump suspended the bombing of Iraq, causing oil prices to plummet by 12%, and the Central Bank of China increased its gold holdings for 17 consecutive months." Hope this helps you! The original content is as follows:
Global Market Overview
On Tuesday, investors took a wait-and-see attitude before the deadline set by the United States. The U.S. dollar index hovered near the highest level in nearly 11 months, and finally closed slightly down 0.04% at 99.64; the benchmark 10-year U.S. Treasury yield closed at 4.300%, and the 2-year U.S. Treasury yield, which is sensitive to the Federal Reserve's policy interest rate, closed at 3.7980%.
The attacks on Iran continued to intensify throughout the day, but Iran showed no sign of accepting Trump's ultimatum. Spot gold fell back after rising, and finally closed up 0.86% at US$4,705.85 per ounce; spot silver finally closed up 0.25% at US$72.99 per ounce.
In the early hours of Tuesday morning, Pakistan proposed a two-week ceasefire, and Iran is actively reviewing it. WTI crude oil closed down 2.07%, at $110.66/barrel; Brent crude oil finally closed down 5.71%, at $103.43/barrel; after the opening on Wednesday, Trump announced a two-week ceasefire, and WTI crude oil fell 12% during the day.
Overnight market review
US stocks: On Tuesday, the Dow closed down 0.18%, the S&P 500 rose 0.08%, and the Nasdaq rose 0.1%. Broadcom (AVGO.O) rose more than 6%, and Intel (INTC.O) rose 4%. The Nasdaq China Golden Dragon Index closed down nearly 1%.
European stocks: All major European stock indexes closed down, with Germany's DAX30 index closing down 1.06%, Britain's FTSE 100 index closing down 0.84%, and the European Stoxx 50 index closing down 1.05%.
Because of EasterTo make up for the holiday, the Hong Kong stock market will be closed for one day, and southbound and northbound trading will be closed.
A-shares: The three major A-share stock indexes rose and fell in early trading, and collectively turned green in the afternoon. Then the three major stock indexes stopped falling and rebounded. The GEM index once again rose by nearly 1%, and the Shanghai xmmarkets.cnposite Index maintained a narrow range of consolidation. As of the close, the Shanghai Stock Exchange Index closed up 0.26%, the Shenzhen Stock Exchange xmmarkets.cnponent Index closed up 0.36%, and the GEM Index closed up 0.36%; the turnover of the Shanghai and Shenzhen Stock Exchanges exceeded 1.6 trillion, and more than 38,100 stocks in the two cities rose. On the market, most sectors of the market were in the red, with multiple chemical sectors such as glyphosate and acrylic acid leading the gains. The concept of football continued to strengthen in the afternoon, and agricultural sectors such as pork and soybeans performed well. Insurance, aviation, banking, transportation facilities and other sectors were among the top decliners.
Domestic market news
1. my country’s embassies in many countries in the Middle East issued reminders calling on Chinese citizens to effectively improve their security awareness and strengthen their own protection.
2. The Ministry of Foreign Affairs stated that it will resolutely resist Japan’s so-called "new militarism" and maintain regional peace and stability.
3. The People’s Bank of China increased its gold holdings for the 17th consecutive month. As of the end of March, gold reserves increased by 160,000 ounces from the previous month.
4. The National Service Industry Conference is about to be held, and a series of specific measures will be launched to promote the expansion and quality improvement of the service industry.
5. Premier Li Qiang of the State Council signed an order of the State Council, officially announcing the "State Council Regulations on Industrial Chain and Supply Chain Security."
6. The National Development and Reform xmmarkets.cnmission announced that starting from 24:00 on April 7, the prices of domestic gasoline and diesel (standard products) will be increased by 420 yuan and 400 yuan per ton respectively.
International Market News
1. The Prime Minister of Pakistan proposed that Trump grant a two-week grace period, during which Iran would open the Strait and all parties would cease fire. Iran responded that it was actively reviewing the plan.
2. Trump said that if the negotiations make progress, he will consider adjusting the strike against Iran, but will still stick to the original deadline.
3. Iranian officials revealed that xmmarkets.cnmunication with the United States through mediators is still continuing. There was news that the dialogue channel between the two parties was closed.
4. Iran threatened Trump’s possible “crazy moves” and said it would attack Saudi Aramco, the Yanbu oil field and the Fujairah oil pipeline.
5. Trump threatens to destroy "the entire" Iranian civilization.
6. Vance said that the United States and Israel have achieved their established military goals and the war will end soon, and corresponding negotiations will be held subsequently.
7. Many petrochemical plants and aluminum plant facilities in Iran were attacked.
8. The United States unilaterally attacked military facilities on Khark Island. Iran claimed that key facilities were not damaged.
9. Iranian people formed a "human chain" to protect power plants and bridges.
10. The United States denies that it is considering using nuclear weapons against Iran.
Today’s main financial data and events
10:00 New Zealand Federal Reserve announces interest rate decision
11:00 New Zealand Federal Reserve Chairman Breman holds a press conference
14:00 UK March Halifax seasonally adjusted monthly house price index rate
14:45 France February trade balance
15:00 Swiss March seasonally adjusted unemployment rate
17:00 Euro Zone February PPI monthly rate
17:00 Euro zone February retail sales monthly rate
22:30 EIA crude oil inventory from the United States to the week of April 3
22:30 EIA Cushing crude oil inventory from the United States to the week of April 3
22:30 EI from the United States to the week of April 3 A Strategic Petroleum Reserve Inventory
The next day 01:00 the United States to April 8 10-year Treasury bond auction - bidding rate
The next day 01:00 the next day the United States to April 8 10-year Treasury bond auction - bid multiples
The next day 01:05 Fed Daley talks about economic and monetary policy
times At 02:00 on the same day, the Federal Reserve released the minutes of the monetary policy meeting
The above content is about "[XM Foreign Exchange Market Analysis]: Trump suspended the bombing of Iraq, causing oil prices to plummet by 12%, and the People's Bank of China increased its gold holdings for 17 consecutive months". It was carefully xmmarkets.cnpiled and edited by the XM foreign exchange editor. I hope it will be helpful to your trading! Thanks for the support!
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