Industrial Investment: The resurgence of trade disputes between China and the United States Crude oil slightly declines

Industrial Investment: The resurgence of trade disputes between China and the United States crude oilSlight decline
2018year8month24day
International oil prices closed slightly lower on Thursday, with the United StatesEIAThe positive impact of inventory reports is still fermenting, but the resurgence of the US China trade war has raised investor concerns, and the strong rebound of the US dollar has also put pressure on oil prices. United StatesWTI 9Monthly crude oilfuturesfall0.04%to67.83dollar/bucket;Brent10Monthly crude oil futures down0.07%to74.73dollar/Bucket.
The United States announced on WednesdayEIAThe overall positive inventory report supported high volatility in crude oil futures during yesterday's Asian session. Data display, as of8month17The crude oil inventory for the current week has sharply decreased583.6Ten thousand barrels, market estimate for decrease149.710000 barrels;This data is different from beforeAPIThe report shows a decrease in crude oil inventory517The match of ten thousand barrels confirms the background that crude oil supply still lags behind demand.
However, after entering the European period, oil prices began to fluctuate and fall, as investors were concerned that the escalating trade standoff between the United States and China would drag down the two countries to varying degrees2019yearGDPThe growth rate will affect the demand for crude oil. The Chinese Ministry of Commerce pointed out that the United States is committed to8month23Japanese imports from China160Billion dollar product surcharge25%The tariffs are clearly suspected of violating World Trade Organization rules, and China firmly opposes this and has to continue to make necessary counterattacks. The new round of tariff negotiations between China and the United States began yesterday, but with lower investor expectations, the subsequent rebound in oil prices will still face pressure. At the same time, the strong rebound of the US dollar has also put pressure on oil prices to decline.
In addition, the price war between Saudi Arabia and Iran has also posed a negative impact on crude oil to some extent. In response to the call of the US President, Saudi Arabia has pledged to increase crude oil exports, and has also lowered the price of crude oil sold to customers in the Asia Pacific region. But Iran is also unwilling to be outdone and supplies crude oil at "favorable prices", which means a fierce oil price war has begun.
After the opening of the Asian market on Friday, crude oil futures rebounded slightly, and the short-term forces of both bulls and bears will continue to tug at each other. Pay attention to the latest news on China US trade negotiations within the day, and in addition, Federal Reserve Chairman Powell will deliver a speech at the Jackson Hole Global Central Bank Annual Meeting. The fluctuation of the US dollar will also cause oil price fluctuations, so it is worth paying close attention to by investors.
USD Index
The US dollar index rebounded strongly on Thursday, hitting a two-day high after recovering from all the previous day's losses95.70Previously2019yearFOMCVoting committee and Kansas Fed Chairman George confirmed the Fed's willingness to raise interest rates, while punitive tariffs were implemented in both China and the United States, boosting demand for the US dollar. Proposed Value to China in the United States2000As the hearing on tariffs on billions of dollars worth of goods intensifies in Washington, the US has launched a second round of targeting China's value160Billion dollar product surcharge25%The decision on tariffs, while China8month23Japan has officially implemented equivalent countermeasures. Today's data focus is on the United States7Monthly durable goods orders, with a focus on Powell's speech on economic and monetary policy at the global central bank annual meeting, are expected to trigger a brief fluctuation in the US dollar.
technical analysis
American crude oil
Daily chart: Oil prices fluctuated slightly overnight and closed down, pausing their five consecutive upward trend. Oil prices have been constrained for two consecutive days by68.10Nearby resistance needs to be effectively broken through before further upward movement can occur, while support is looking towards last year6The entry point of the upward trend line since the beginning of the month67.30。
4Hour chart: After the continuous decline in oil prices67.30Nearby support was found, and then rebounded to recover some of the decline. At present, the kinetic energy index is slightly bullish, focusing on the breakthrough strength near yesterday's high.
Hour chart: After the opening of the Asian market today, oil prices fluctuated slightly and rose, with a slightly bullish short-term trend.
Overview: Effective Breakthroughs68.10Then point to68.60and69.10On the contrary, if the breakthrough is blocked, it may fall back and point towards67.30。
Brent crude oil
Daily chart: Oil prices slightly fluctuated and fell overnight, recording a thin candlestick with a downward shadow, indicating a certain level of support below. At present, oil prices are rising again, and if they can break through Wednesday's high resistance75The gateway is expected to further point towards75.50。
4Hour chart: bullish oil prices after short-term declineMA(10)Support, followed by a rebound and recovery of the majority of the earlier decline. If this support level can be maintained within the day, it may rise again.
Hour chart: After the opening of the Asian market today, oil prices have risen again, with a slightly bullish short-term trend.
Overview: Breaking through75After the checkpoint, it will point towards75.50and75.80On the contrary, if the breakthrough is blocked, it will fall back to74.40-20。
Follow on Friday:
After the Q2 quarterly adjustment in GermanyGDP
britain7monthBBAMortgage loan license
U.S.A7Monthly durable goods orders/Core durable goods orders
Federal Reserve Chairman Powell discusses economic and monetary policy at the Jackson Hole Central Bank Annual Meeting