Oil prices pulled back for two consecutive days on Tuesday, and gold prices rose for three consecutive days, holding steady in the currency market ahead of the U.S. CPI announcement. Today's focus is on U.S. wholesale inventory data and EIA crude oil inventories.
【Wengu - Overnight Market Review】
Global Bond Markets: U.S. Treasury yields rose on Tuesday, with U.S. two-year yields up 5.11 basis points at 1.3414 percent; U.S. 10-year yields up 4.73 basis points at 1.9632 percent; and China's 10-year yields up 1.6 basis points at 2.738 percent.
Global currency market: The market was generally stable on Tuesday, with the market waiting for the US Consumer Price Index (CPI), which will be released on Thursday. Dollar index futures rose 0.21 percent at 95.597. The euro fell 0.21 percent to $1.1418. As crude oil fell, the Norwegian krone and the Canadian dollar bottomed out against the DOLLAR.
Global Gold Market: Gold prices rose for the third consecutive session, with inflation concerns boosting gold's attractiveness. Gold futures rose 0.3 percent at $1,827.90 an ounce.
International oil market: Oil prices fell for the second consecutive day, and geopolitical risks remain the focus of the market. The Iran nuclear talks appear to be gaining good momentum. Brent crude futures in London fell 2.1 percent at $90.78 a barrel; WTI crude futures fell 2.1 percent at $89.36 a barrel.
A shares: The Shanghai Composite Index rose 0.67% to 3452.63 points on Tuesday; the Shenzhen Composite Index fell 0.98% to 13325.41 points; the ChiNext Index fell 2.45% to 2846.48 points; the Kechuang 50 fell 2.4% to 1204.05 points; and the FTSE China A50 Index fell 0.49% to 14967.63 points.
Hong Kong stocks: The Hong Kong Hang Seng Index fell 1.02% to 24329.49 points on Tuesday; the Hang Seng China Enterprises Index fell 0.89% to 8513.3 points; and the Hang Seng Technology Index fell 1.67% to 5436.92 points.
European stocks: The Pan-Ostoxx 600 was essentially flat at 465.34 on Tuesday; the FTSE 100 was down 0.1% at 7,567.07; France's CAC40 rose 0.3 percent at 7,028.41 points, while Germany's DAX30 rose 0.2 percent at 15,242.38.
U.S. stocks: U.S. stocks were higher across the board on Tuesday, with gains in cyclical and small-cap stocks suggesting increased confidence in the outlook for economic growth amid currency tightening. The US S&P 500 rose 0.8% at 4521.54 points; the Dow Jones Industrial Average rose 1.1% at 35462.78; and the Nasdaq Composite rose 1.3% at 14194.46.
【Blockbuster - Market News】
The U.S. trade deficit was record in 2021, with a surge in imports overshadowing a rebound in exports
The U.S. trade deficit hit a record high in 2021, businesses replenished their shelves to meet strong domestic demand, and imports increased significantly. The U.S. Department of Commerce reported a significant widening of the trade deficit, mainly reflecting the shift in spending from services to goods during the COVID-19 pandemic. The U.S. trade deficit grew 27.0 percent last year, a record high of $859.1 billion. The 2020 deficit was $676.7 billion.
The U.S. House of Representatives passed a three-week stop-and-go spending bill
The U.S. House of Representatives voted 272-162 to pass a three-week stopover bill, which will be voted on by the Senate to avoid a shutdown of the federal government after February 18.
Iran's nuclear talks reconvened in Vienna on Tuesday
Indirect talks between Iran and the United States over the 2015 nuclear deal reached between Iran and the United States to save Tehran from world powers resumed on Tuesday, but the envoys said little about whether they were closer to resolving thorny issues.
France's trade deficit hit an all-time high last year
France's trade deficit hit a record high last year as rising energy prices led to a surge in imports and falling Airbus exports, becoming a "stain" on Macron's eye-catching economic performance, official data showed. The merchandise trade deficit will reach 84.7 billion euros ($97 billion) in 2021, equivalent to 3.4 percent of economic output, as energy imports balloon to 43.1 billion euros, according to France's trade ministry. In December alone, the trade deficit exceeded 11 billion euros, the largest monthly deficit since French customs recorded in 1970.
【Voices—Opinions of Investment Banking Institutions】
ECB Regulator Villeroy: Inflation is temporary
ECB Regulator Villeroy said investors may have overreacted to what they see as the ECB's turning hawk and that the inflation spike should be temporary. The ECB will take all necessary measures to guide inflation back to its 2% target over time.
White House Spokesman Psaki: The United States is actively responding to high oil prices
Psaki said the U.S. government is consulting with both oil producers and consumers to cope with high oil prices, noting that all options will be considered.
EIA: Both U.S. production and consumption are expected to increase
According to the U.S. Energy Information Administration's (EIA) monthly report, U.S. crude oil production is expected to increase by 770,000 b/d to 11.97 million b/d in 2022. U.S. crude oil production is expected to increase by 630,000 b/d to 12.6 million b/d in 2023. Total U.S. oil consumption will increase by 880,000 bpd to 20.66 million b/d in 2022.
【Zhixin-Focus today】
10:00
New Zealand's inflation forecast for the first quarter over the next two years
15:00
Germany's trade balance is not seasonally adjusted for December
23:00
U.S. December wholesale inventories end-of-month
23:30
U.S. EIA crude inventories for the week ended Feb. 4 changed
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