Last week, a Greek referendum variables, the European Central Bank cut interest rates and other major events of accidents, repeated impact on the market, domestic and international commodity markets Xianyihouyang, industrial performance was slightly stronger than agricultural (14.710.211.45%), of which New York oil prices climb to a high of three months.
International oil prices rose 4 shocks, New York and London prices are for the second consecutive week of gains, including the New York oil prices hit new three-month high.
The same day, the Greek Prime Minister Andreas Papandreou announced plans to abandon the referendum, a new round of the Greek financial assistance the EU has been to remove obstacles. Meanwhile, another European country deeply in debt quagmire Italy agreed to let the International Monetary Fund and the European Union to improve its supervision of financial position and in pension, labor market reforms and privatization process. These moves allow the market to European concerns about the debt crisis eased, rising oil prices gain momentum.
In addition, the U.S. Labor Department data showed the United States in October, 80 000 new jobs, while new jobs in September from the previously reported increase of 103,000 to 158,000, the unemployment rate to 9%. Although the U.S. job market to improve the speed is still slow, but the market has injected optimism.
However, oil prices increased the debt by the European prospects of the restrictions. According to the German Chancellor Angela Merkel said in Cannes, France had just concluded summit of the Group of Twenty, almost no country wants to participate in the European rescue plan. In addition, market analysts expect the emergence of the disorder is likely to breach the Greek, and Italian government bond yields hit record highs, in future because the debt crisis is still the largest uncertainties in the global economy, will result in continued pressure on the crude oil market.
To the closing, the New York Mercantile Exchange, light sweet crude for delivery in December futures rose 19 cents to settle at $ 94.26 a barrel, or 0.2%, the week up 94 cents, or 1%. December delivery London Brent crude futures rose $ 1.14, to close at $ 111.97 a barrel, or 1.03%, the week up $ 2.06, or 1.87%.
Domestic futures market
Industrial performance was slightly stronger than the agricultural
From the domestic market, PMI unexpectedly fell in October that weighed on the market, but international factors, namely the European domestic debt and external disk drive greater impact on performance, generally the last trading day rally, the week view, the industrial performance was slightly stronger than agricultural products from specific varieties of view:
Rose more or less non-ferrous metals, copper, zinc, lead the main contract rose 0.19%, 0.84% ​​and 0.29%, Shanghai aluminum futures fell 0.67% the week 1201. At present no clear direction colored plates, but is closely related with the macro-economic, as the domestic policy "preset fine tuning" of the signal to further uncertainty, market optimism or will be restored.
Lackluster agricultural futures, Change rate are limited. Corn fell 1.33% the week, led by agricultural sector. Sugar will be held this week, did not give more guidance sugar, white sugar rose slightly to 0.49%.
Market outlook
European debt will affect the progress of commodity movements
Looking ahead, the pattern of last Friday's broad based sustainability, the European debt will continue to affect the response to progress in an important factor in the trend of bulk commodities. G20 summit, few countries want to participate in rescue plans in Europe. Although the government of Greece George Papandreou won a parliamentary vote of confidence, but the political situation will remain for some time Greece is full of variables. European debt crisis remains bleak outlook is still uncertain global economy, the biggest factor.
Gold Market
Volatile market, "see the real gold."
Last week, the financial market turmoil, the risk of events after another eye-catching, risk aversion dominated the investment market, pushed the international price of gold rose to $ 1,750 / ounce above order, the international price of gold weekly, or at 358 yuan / g near the consolidation.
Fundamentally, the European debt problem has not been substantial mitigation, the lack of investor confidence in the market, and the global economic downturn, the market has been released economic data for the lukewarm response. In addition, the Iranian nuclear issue once again that the situation in the Middle East tensions, the recent progress in the situation of concern in the Middle East.
Short-term market outlook is expected to maintain the shock rise in gold pattern, above resistance $ 1,780 / ounce, below the support $ 1,745 / ounce. (Xiao Jizhong)