Banda Asia: Market risk aversion has cooled down Gold high diving

Attended the G20 in Washington last Thursday(G20)After the finance ministers' meeting, Bank of Japan Governor Kazuo Ueda said at a press conference, "My views on the global and US economy are not much different from when I was in Japan10month29—30When asked about the possibility of a rate hike at the Japanese policy meeting, he said, 'I hope to continue collecting more information and carefully examine the situation.'10Various data released before the monthly meeting. ”The Japanese parliament is expected to vote for a new prime minister on Tuesday, leaving little time for the central bank to communicate with the new government before the next policy meeting. Takashi Hayao, who may become the new prime minister, is a supporter of loose monetary policy. At a seminar in Washington last Thursday, Seiichi Shimizu, Deputy Governor of the Bank of Japan, said, "We don't know how the economy will react specifically to interest rate hikes, which is another type of uncertainty we are currently facing, so it is necessary to act cautiously

In addition, data released by the National Bureau of Statistics shows that according to preliminary calculations, the gross domestic product (GDP) for the first three quarters was1015036100 million yuan, calculated at constant prices, with year-on-year growth5.2%From the perspective of different industries, the added value of the primary industry58061100 million yuan, year-on-year growth3.8%; Value added of the secondary industry364020Billion yuan, growth4.9%; Value added of the tertiary industry592955Billion yuan, growth5.4%By quarter, the year-on-year growth of gross domestic product in the first quarter5.4%Growth in Q25.2%Growth in the third quarter4.8%From a month on month perspective, the GDP growth in the third quarter1.1%The National Bureau of Statistics pointed out that in the next stage, we must conscientiously implement the decisions and arrangements of the State Council, strengthen the implementation of countercyclical regulation, continuously expand domestic demand, strengthen the domestic circulation, further stimulate market vitality, boost development expectations, continuously enhance endogenous growth momentum, and promote sustained and healthy economic development.

The data that needs attention today is the United States9Initial monthly construction permit rate, United States9Monthly import price index rate, United States9Annual monthly rate of new housing construction and the United States9Monthly industrial output rate.

gold/dollar

Last Friday, gold surged and then plunged, narrowly defending4200Gateway, spot exchange rate trading at4255Nearby. In addition to profit taking exerting a certain pressure on gold, the stabilization of the US dollar index supported by the easing of trade tensions is also an important factor in pressuring gold to fall. However, the expectation of interest rate cuts by the Federal Reserve, geopolitical tensions, and the continued government shutdown in the United States have limited the downward space for gold. Today's Focus4300Nearby pressure situation, supported below4200Near.

dollar/Japanese yen

Last Friday USD/The Japanese yen bottomed out and rebounded, with a slight increase in the daily chart. The current exchange rate is trading at150.60Nearby. In addition to providing some support for the exchange rate through short covering, the rebound of the US dollar index, supported by the cooling of trade tensions, also provided some support for the exchange rate. However, the expectation of interest rate cuts by the Federal Reserve and the continued expectation of interest rate hikes by the Bank of Japan have limited the rebound space of the exchange rate. Today's Focus151.50Nearby pressure situation, supported below149.50Near.

dollar/Cad

Last Friday USD/The Canadian dollar fluctuated downwards, with a slight decline in the daily chart. The current exchange rate is trading at1.4010Nearby. Apart from profit taking, which has exerted some pressure on the exchange rate,crude oilThe rebound in prices has also exerted some pressure on the exchange rate. In addition, the expectation of interest rate cuts by the Federal Reserve has also exerted some pressure on the exchange rate. However, the stabilization of the US dollar index has limited the room for a correction in the exchange rate. Today's Focus1.4100Nearby pressure situation, supported below1.3900Near.