gold is bullish, and investors should continue to buy on dips today.

Hexun.

The OPEC secretariat reports that the current outlook for the oil market is harsher than last month’s and expects an increase in crude oil demand of 5.95 million barrels per day by 2021. A shortfall of one million barrels per day is scheduled for this year. Countries that still need to submit compensation plans have been told to do so as soon as possible. OPEC May oil production grew by 280,000 barrels per day to 25.52 million daily. A spokesperson for the Iranian Ministry of Foreign Affairs said that while substantial progress has been made in the 2015 nuclear agreement negotiations, some critical issues must still be resolved. IAEA Director-General Grid Ross said the talks with Iran had “no results,” Iran must clarify issues of its stock of enriched uranium more than 16 times the agreed-upon limit. The EIA data shows that despite the sanctions imposed on Iran, the United States imported 1.033 million barrels of crude oil from Iran in March. In a draft document, the G7 finance ministers stated that they support the OECD/efforts G20 to agree on the lowest global corporate tax rate; once the economy has recovered, the ministers must ensure the long-term sustainability of government finances; and the central bank’s numbers will be discussed. Begin work on the fundamentals of currency, and report conclusions later in 2021. the OECD issued an economic outlook, predicting that the global economy will grow by 5.8% in 2021, and many countries’ expectations have been raised. The international tax agreement may be concluded in October, according to Guria.

Investors are currently shorting commodities, ranging from crops to natural gas.

The CFTC and ICE data suggest that since November last week, the Bloomberg commodity index tracking hedge funds are the most significant position in various commodities. Decline Monday’s data shows that the Bank of Japan (BOJ) had not purchased ETFs in May, the first time since Kuroda’s election as BOJ governor in 2013 when he did not intervene in the market. The data highlights that the central bank is retreating from Kuroda’s “bazooka” stimulus plan, as the years of massive asset purchases have attracted criticism. Several critics say this has made the BOJ balance sheet highly vulnerable. German inflation data was released on Monday after local measures to contain the flu were relaxed. This month’s data has risen 2.4% year-over-year, the highest since October 2018. This year, inflation may increase to 4% for the first time since the euro’s creation.

Previously, the People’s Bank of China (PBOC) announced that to manage foreign exchange liquidity for financial institutions better, it has decided to increase the reserve ratio for foreign exchange deposits from 5% to 7% beginning June 15, 2021.

While the world economy grows, the gap between developing and developed countries increases, and it will take longer to recover to pre-epidemic output levels.

The global oil inventory surplus will be eliminated by the end of June. To achieve at least 2 million BPD of inventory drop by September-December, OPEC+ will have much room to increase production. Even if the current increase is completed, 6% of the global supply is idle.

As the world’s largest producer of sugar and coffee, the severe drought has worried the market about Brazil’s supply, pushing up future coffee prices.

May had the fastest year-on-year growth rate in nearly two and a half years. The pan-European stock index dropped and rose for four straight months in May. The weakness of the U.S. dollar, the offshore renminbi For more than two and a half months, oil distribution was highly variable. Bitcoin rose to nearly 37,000 USD in intraday trading, and ethereum gained almost 20% on the previous day’s decline. Stay on the facts today data and financial events on June 1 (Tuesday);

Q1 of the current Australian account

Manufacturing PMI (Caixin 09:45)

12:30 Aussie June rate

the German monthly retail sales rate in April

15:00 quarter GDP annual rate

value of May manufacturing PMI: 15:50 French

15.55: German seasonal unemployment rate

15:55 Germany manufacturing PMI

European manufacturing PMI, 17:00 local time

Markit Manufacturing PMI: 16:30, UK GMT

Starting at 17:00 In May, the annual CPI rate in the eurozone is not adjusted. reside

17:00 April Eurozone unemployment rate

approximately $23 billion monthly.”

21:45 -PMI Value on May 16, 2014

W 22:00 May PMI Manufacturing

the 17th OPEC and non-OPEC ministerial video conference was held

technicals

Gold~1 hour price

You can open the app to see the latest report.

Gold was static yesterday.

Daily-level prices continue to run above the shock range; some support below can be counted on. The bullish signal of the Yang Line has ended. In the short term, prices will rise, and the MACD’s fast and slow lines will increase. At the 1-hour level, the price has formed a short-term high, the trendline has provided some support, and the MACD’s fast and slow lines have increased. Because of this, the gold price is mostly rising. You can find the signal and place your orders when the price moves down toward the trend line. We are at 1912 pre-pressure. XAUUSD trading strategy (go long) Stop loss: around 1900, take profit: 1912-1922 1-hour Silver XAGUSD Silver follows the trend of gold and continues to vary within that range. Under the daily price level, it closed the bullish signal on the Yang small line Raising short-term price. Fast/Slow MACD ready for another golden cross. At the 1-hour level, the price is at a high and varying level. The MACD (Momentum, ADX, and Zero Line) shows continued strength. Today’s silver movement is mostly bullish and upward. We are waiting for the price to fall to the inscribed trend line to see the signal layout and orders. The early high target was 28.7. XAGUSD trading strategy (long) Entry point: 27.9, stop loss: 27.2, and profit: 28.7 to 29.2.

1-hour level crude oil

Yesterday, crude oil had to use the support below to rise.

The daily price increase follows the upward channel but has reached the upper Bollinger band and is being suppressed. With increased upward pressure and a likelihood of a callback, the MACD volume can shrink. Looking at the 1-hour chart, the price rise has encountered the previous upward trend line; the price has repeatedly risen and fallen, and the short-term price will decline. So, today’s crude oil price trend fell mainly. Buyers should be patient, waiting for the price to rebound above the upward trend line before taking a short position. The short-term target shock range is located near 66.1. OPIS trading strategy (short) Stop loss: 68.8, take profit: 66.1-65.4 the 1-hour EURUSD level The euro continued to rise due to the dollar’s rise and fall. The price increased significantly, staying near the 10-day moving average, and closed a bullish signal set by the mid-Yang line. The price continued to grow, and the MACD’s fast and slow-moving average converged on another golden cross. At the 1-hour level, the short-term price trend is in a V-shaped reversal, supported by the inscribed trend line, and the short-term price will rise. As such, the current trend of the euro is mainly up. I will look for a signal setup and orders as the price approaches the inward trendline. At the top of the target earlier

The Corona effects on bitcoin price

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28 Jan 2020 – Bitcoin is rising with a broader uptrend that began well before the coronavirus scare began weighing on traditional markets.  

Investment bank reveals why the recent rebound in gold prices is expected to hit $1,300 during the year.

According to TD Securities, after a near one-year low in June, gold prices are expected to recover and continue to rise in the remaining months of the summer. The lack of “fuel” in the iterative trade war and the weakening of the dollar are factors that support the price of gold.

  TD Securities Global Strategy Director Bart Melek wrote in a report released on Monday (July 9): “The price of gold is expected to exceed $1,270 per ounce in the summer. In fact, if the price of gold rises in the last three months of 2018 We are not surprised by $1300/oz.”

  Melek pointed out that gold has started to recover last week, and COMEX August gold futures rose from $1,240 per ounce to around $1,260 per ounce.

  Melek wrote: “The weaker dollar, lack of interest in risky assets and the decline in long-term bond yields were key factors in the rise in gold prices last week. The bond yield curve was further flattened, which triggered a possible end to the current US economic expansion. Guessing and worrying, this is another important reason why gold prices have performed relatively well in recent days.”

  The report emphasizes that in the short term, some market speculators may recover their hawkish prospects on the issue of the Federal Reserve’s (FED) tightening of monetary policy, which will benefit the gold price.

  Melek added that the strength of emerging market currencies will also play a key role in boosting gold prices this summer.

  At the same time, Melek expects that as the European Central Bank (ECB) prepares to raise interest rates, the dollar’s gains will fall back, which is another good sign of gold.

Daniel Ghali, a commodities strategist at TD Securities, pointed out that investors may turn their attention to macroeconomic data as the trade war between China and the US has not been seriously upgraded this week.

  Ghali writes: “US inflation data may become the focus of precious metals traders, CPI and PPI will be released this week. But in addition to macro data, with US President Trump visiting Europe, market participants may also pay attention to NATO Summit.”

  Ghali explained: “Given the recent stock market unease and the resurgence of global economic growth that will be driven by trade, traders may interpret inflation weakness as a sign that the Fed may still abandon radical interest rate increases.”

  This week, investors will usher in some heavy data, the most important of which will be the US Consumer Price Index (CPI) on Thursday.

  Analysts pointed out that if consumer inflation data continues to maintain current trends or accelerate, then the dollar may be rebound, as the possibility of another rate hike in 2018 will rise further. However, if the CPI and the last Friday’s wage data echo and fall back, it may lead to the suppression of the dollar, which will benefit the gold price.