The dollar's rally triggered futures fell _ futures Sina Financial News _ _ Sina
Posted on Jun-03-2008· by china investor
Reporter Li Qian 2008-6-3
Last week, the dollar began to rebound in a row. ã€é‡‘属ç‰æ— 一能逃脱“厄è¿â€ã€‚ The news hit the international commodity futures markets, triggered a variety of futures markets all fell, crude oil, gold, metals, such as no one can escape the "bad luck."
Gold slump
This round of the dollar's rally from last Tuesday, the last three days. The dollar's rally a direct result of the rapid international gold prices fell.
Last Tuesday, the sharp decline in international spot gold over 20 U.S. dollars, the minimum dropped to 903.3 U.S. dollars / oz. The next day, the international spot gold fell as low as 888.20 U.S. dollars. By Thursday, COMEX gold prices following the dollar's rally and rapid decline, fell to 877.20 U.S. dollars / oz. Crude oil futures also sharply lower Friday electronic trading was below 125 U.S. dollars.
The international gold fell, the main reason for this is the favorable U.S. economic data. The United States announced in April new home sales data for 526,000, higher than market expectations of 520,000, but the value will be transferred to the former 509,000, resulting in April, new home sales rise in the rate of 3.3 percent. Following the publication of data, the dollar immediately rose, gold started down. Although the United States released the same evening the S & P price index and the consumer confidence index have dropped sharply, but the pre-and, bad news against the dollar does not constitute, on the contrary, as long as the positive support to the dollar form.
U.S. new home sales market to move up to a very high rating, Goldman Sachs economists even think that the U.S. real estate market has already bottomed. At the same time, the price of crude oil pullback for gold has brought a lot of pressure. Russia and Saudi Arabia pledged to increase oil supply to the impact of lower crude oil prices have five U.S. dollars.
Industry analysis, the current gold as a hedge inflation has weakened the role of assets. In the first quarter U.S. economic growth better than expected, the dollar all rose, gold's attractiveness as an alternative currency also reduced.
Gold's slump has also affected the country. Shanghai Futures Exchange Friday December gold futures contract declined substantially by 6.63 to 195.07 yuan / g, or 3.29 percent.
The futures manager Zhu Yi Lin also said that since the acquisition of Bear Stearns settled the case boosted the stock market, the decline in gold hedging function. To speed up the adjustment of crude oil also increased the pressure on gold. The short run, many negative gold, gold may be re-tested the psychological line of 850 U.S. dollars.
Agricultural downturn trend
Rebound in the dollar exchange rate, crude oil futures prices lower, the weather conditions improved, and other factors, the market Chicago corn and soybean futures prices fell. Last Friday, CBOT corn contract 901 to 1,884 yuan lower open after a tight range, a substantial late Jiancang, to close at 1,876 yuan. The domestic maize is also within a week, four successive trading day down 13 cents momentum, Friday is the test early lows, the market popularity slump. At the same time, the international raw sugar in a row also decreased.
Many analysts said the dollar for agricultural products of great significance. All along, the prices of agricultural products was skyrocket, the most important factor is the international agricultural products generally dollar-denominated, the dollar continued weakness in promoting the bull market of agricultural products. Early adjustment of agricultural products is not deep, such as the dollar continues to rise, agricultural products also fell shocks.
In addition to agricultural products, basic metals international prices have also dropped, nickel and zinc futures prices hit new low over the past two years. May 30, the London Metal Exchange (LME) March copper closed at 7,889 U.S. dollars / ton, or 3.15 percent; Al-lun dropped by 2.72 percent. March period Fallon hit the lead after 1908.8 U.S. dollars / ton low for March 2007 since the middle of nickel-lun intraday record of 21,900 U.S. dollars / ton low, even in July 2006 has been low. Among them, in this collective slump in metal tin varieties hit the staggering 10.40 percent decrease for all species in the most.
The industry said that this round will collapse precious metals and base metals price shocks, but crude oil futures and agricultural products still exist in the supply and demand imbalance. Is expected to continue the sharp decline in the future the possibility of smaller, investors will be able to adjust according to the actual situation on investment in a timely manner.
chinainvestor:本版contents of the article was supplied by MarketWatch, does not constitute investment advice. Investors this operation, own risk.
Tags:
Leave Your Comments