【 US Market Overview 】 Following the three consecutive declines of US stocks in the Asian and European markets, futures prices hit a five-week high

Prior to the Federal Reserve policy meeting and the Brexit referendum, panic sentiment in the US market reached a three-month high. The US stock market closed lower on Monday, recording three consecutive negative days since then.crude oilfuturesClosing at the lowest level in a week;goldFutures prices hit Monday5Closing at a new high since mid month.


Panic sentiment enveloped the stock market, and the US stock market closed lower on Monday, recording three consecutive negative days since then.


[blockquote]
The Dow Jones Industrial Average has fallen132.86Point, report17，732.48Point, with a decrease of0.74%；


Standard&Poor's500Index decline17.01Point, report2，079.06Point, with a decrease of0.81%；


Nasdaq Composite Index Down46.11Point, report4，848.44Point, with a decrease of0.94%。[/blockquote]




Chicago, known as the "Panic Index"optionExchange market volatility index（VIX）Monday saw a sharp rise, approaching12%Breakthrough19Point, reaching a three-month high, is mainly due to uncertainty before the Federal Reserve policy meeting and the Brexit referendum in the UK.


Concerns over the prospects of the Federal Reserve's monetary policy meeting and the Brexit referendum remain shrouded in the market, and the meeting will end on Wednesday. The UK will6month23A nationwide referendum will be held on whether to retain EU membership, and related uncertainties continue to put pressure on the global market.


On Monday, the Asian and European markets experienced a comprehensive decline.


Crude oil futures prices have closed at their lowest level in a week, as an increase in active crude oil drilling in the United States may drive up crude oil production.


[blockquote]
New York Mercantile Exchange7West Texas Intermediate crude oil for monthly delivery（WTI）Futures prices fell on Monday19Cents, or0.4%Collect per barrel48.88USD, for6month3The lowest closing price since the beginning of the day;


London Intercontinental Exchange（ICE）8The price of Brent crude oil futures for monthly delivery has fallen19Cents, or0.4%Collect per barrel50.35US dollars. During trading, it fell below the barrel level for the first time in a week50The US dollar barrier.[/blockquote]




Baker Hughes Company（BHI）Last Friday's report stated that as of6month10An increase in active crude oil drilling in the United States3Seat, for the second consecutive week of increase.


Monday（6month13OPEC released its monthly crude oil market report, stating5monthOPECThe production of crude oil has decreased.Foreign exchange gold


【 Gold Market 】 Gold futures prices hit new highs on Monday5Closing at a new high since mid month. This week's central bank meeting and6month23Before the Brexit referendum in Japan, the market's risk aversion was prevalent, driving up gold prices.


[blockquote]
Futures deposit8Monthly contract increase11USD, closing at1286.9dollar/Ounces, increase0.9%, creating5month6The highest closing price since the beginning of the day.[/blockquote]




So far this month, expectations of short-term interest rate hikes by the Federal Reserve have faded, driving up gold prices sharply. since6month3The United States, which fell far short of expectations5Since the release of the monthly non-agricultural employment report, gold prices have accumulated an upward trend6%The report shattered hopes of raising interest rates this summer.


The Fed's interest rate hike may weaken the attractiveness of gold to investors, as gold is a non interest bearing asset. At the same time, the Federal Reserve's interest rate hikes also tend to drive up the US dollar exchange rate, and under normal circumstances, a rise in the US dollar exchange rate will drive down the prices of commodity futures denominated in US dollars such as gold, as the cost of buying these commodities will increase for investors holding other currencies.
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