129784668187085000_305Economic downturn metal to fall further to open
Last week, the metal side is still showing a relatively weak pattern.
For nearly two weeks, increased risk foreign holiday market, States of sluggish economic data, as well as the World Bank to sit on, makes the metal declined by risk. In my view, marketing rhetoric, and overly sensitive economic data for policy makers
tera gold, evoked the risk of market fluctuations increase. Quantitative easing is itself aMarket tools, United States for the third round of quantitative, and more at this stage is to consider the effectiveness and timeliness of policy for Obama's election of a favourable level. On Friday, the United States Labor Department data showed, United States March nonfarm payrolls increase of 120,000 people, only half of the increase in February, and far less than the expected growth of 203,000 people, which also hit a 2011 minimum increase in October. Meanwhile, the United States March unemployment rate fell further to 8.2%.
It shows the United States economic recovery remains weak. China's economy is relatively stable, but still less than optimistic. March HSBC Manufacturing PMI fell below the initial value of 50, to a 4 month low 48.1, China national industrial enterprises above the designated size 1 profit606 billion yuan, down 5.2%, though the official PMI rose to 53.1%, located above the critical point, small and medium enterprises, the situation is still worrying.
China's economic weakness in global demand for commodities, and also will drag Australia and other developed economies, which had a certain negative impact on the global economy. EuroAnnounced two major assistance fund-the European stabilisation mechanism (ESM) and the European financial stability facility (EFSF) expansion to 500 billion euros of the total lending limit from the current 700 billion euros, but Spain reproduction bond market reactions
tera power leveling, yields have before reach LTRO levels, market concerns about Spain bonds in Europe the next toxic asset,Affect the balance sheet of the banking sector in Europe, which again caused market volatility.
Europe's own problems will limit its momentum of economic recovery. Combination of CFTC report, the non-commercial long gradual decline of crude oil, pressed on crude oil prices
tera gold, oil price decline will drive the metals markets-even down. Gold holdings and non-commercial application on the declineClearly, copper and silver overall position and relatively smooth long non-commercial positions. Fundamentals, metal market final consumption remained unsatisfactory, imports and exports remains weak, are detrimental to the metal market rebound. From the current side, not as accompanied by a global Central Bank, and China in March and 1 quarter macro-economic data released this week, metal to fall further on. RecommendedInvestors on high short strategy. Technically, copper 8,300 breaking under follow up short, the Shanghai copper fell 59,000 empty single intervention. Precious metals wait-and-see for the time being, gold breaking under 1700 USD/oz recommends a single intervention.
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