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Although this week’s
non-farm payrolls report was solid on Friday (May 1), supporting
the Federal Reserve’s expectation of raising interest rates at the end of the year, it is still four days away from the U.S. presidential election. The performance of the agricultural report did not shake the guidance brought by the general election to the market. The current election situation is still anxious, the market risk aversion continues to heat up, and the US dollar also continues to decline. In terms of crude oil, conflicts within oil-producing countries over production cuts are becoming more and more serious. Saudi Arabia even threatened to increase production but failed. Investors are increasingly doubtful about reaching a production reduction agreement at the end of the month. This pressured oil prices to fall by .% again on Friday.
In the specific market, the U.S. dollar index continued to fall to a three-week low, and worries about the U.S. election overshadowed the good news
The euro continued to rise against the U.S. dollar, boosted by non-agricultural data, hitting a three-week high, and worries about the U.S. election This caused investors to sell risky assets and buy euros
The price of gold fluctuated and rose slightly, good non-agricultural data suppressed the price of gold, while worries about the US election supported the price of gold and oil prices fell. % continued the decline, recording the largest weekly decline in ten months this week. The market is skeptical about production cuts by oil-producing countries.
The U.S. dollar index continued to fall to a three-week low, as worries about the U.S. election overshadowed the boost from good non-farm payroll data.
The overall performance of the non-farm payrolls report released by the U.S. labor force on Friday was unsatisfactory, but the market's focus is still on next week's U.S. presidential election. Political concerns overshadowed the boost to the U.S. dollar from good data and continued to put pressure on the U.S. dollar.
Political factors overwhelm economic factors and have become the focus of market attention this week.
Investors are concerned that Trump may win the U.S. presidential election next week. Democratic candidate Hillary Clinton's email controversy has revived, and her lead over rival Trump in the polls has been significantly reduced. Reuters/Ipsos polls show that in several swing states that previously tended to support Clinton, the two are now neck and neck in support.
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