Financial Breakfast: EU levies taxes on US products Trump says 5G competition must win in the US

1comment 2019-04-15 08:37:05 source:Huitong Net The second beauty energy comes!

This week (April 15 - April 21),Reserve Bank of AustraliaThe minutes of the April monetary policy meeting will be announced.Federal ReserveThe Beige Book of Economics was announced, and many Fed officials will deliver speeches at different times. The National Bureau of Statistics of China held a press conference on the operation of the national economy in April. Investors need to focus on. On Friday, due to Good Friday, the US, Australia and European exchanges will be closed for the day.Financial calendarIn addition, trade negotiations that continue to affect market sentiment and issues related to Brexit are still worthy of continued attention.

  Market hotspot this week

1 On Monday, US 2019 FOMC voting committee and Boston Fed President Eric Rosengren spoke at the event hosted by Davidson University. US 2019 FOMC voting committee and Chicago Fed President Charles Evans attended CNBC's "Squawk Box" event.

On Tuesday, the Reserve Bank of Australia announced the minutes of the April monetary policy meeting; the Federal Reserve’s Rosen Glenn delivered a speech; in 2019, the FOMC voting committee and Chicago Fed President Charles Evans delivered a speech at the New York Business and Economic Association.

3 Wednesday,Bank of EnglandPresident Mark Carney and the French central bank governor, Francois Villeroy de Galhau, delivered a speech. The National Bureau of Statistics of China held a press conference on the operation of the national economy in April. US February trade account (billionDollar), Canada's February trade account ($100 million).

On Thursday, the Federal Reserve announced the Beige Book of Economics, the US 2019 FOMC Ticket Committee, St. Louis Fed President James Bullard delivered a speech on the US economy and monetary policy; Australia's March seasonally adjusted unemployment rate (%), the United States 3 Monthly retail sales monthly rate (%).

5 Friday, Japan's national CPI annual rate (%) in March, US March construction permit monthly rate (%).

Weekend reminder

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Monday opening market

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Review last week

1 [EU agrees to extend the Brexit deadline to the end of October]? On April 10, local time, the EU agreed to extend the Brexit deadline to the end of October and will review Brexit in June. Teresa May and the EU's Brexit agreement were vetoed three times by the British Parliament, and now she has six and a half months to try to reach some form of Brexit agreement.

2 [Russian Energy Minister Novak: Can increase production if needed]? Russian Energy Minister Novak: sanctions against Iran and Venezuela will lead to insufficient supply in the second half of the year, and a decision will be made at the June meeting on a production reduction agreement. The United States is forcing Europe to buy its liquefaction.natural gasThis is unfair competition, there is a need to monitor the oil market situation, and there are a variety of tools to achieve this action, all options will be taken into account.

3 [Ministry of Commerce: After the ninth round of high-level Sino-US economic and trade consultations, the leaders of the two sides made a call] The Ministry of Commerce spokesman spokesperson revealed that after the ninth round of high-level Sino-US economic and trade consultations, the leaders of China and the United States have already The call was made and the remaining issues were discussed. In the next step, the economic and trade teams of the two sides will maintain close communication through various effective methods, go all out to continue serious negotiations, and work towards the implementation of the important consensus of the two heads of state.

4 [China's three major currency data is strong and better than expected] China added in MarchRenminbiThe loan was 1.69 trillion yuan, expected to be 1,250 billion yuan, and the previous value was 885.8 billion yuan. China's social financing scale increased by 2.86 trillion yuan in March, with an expected value of 185 billion yuan and a previous value of 703 billion yuan. ? China's March M2 money supply was 8.6% year-on-year, with an expected 8.2% and a previous value of 8%.

List of major global market conditions


name Latest price Ups and downs Quote change
The Shanghai Composite Index 3188.63 -1.34 -0.04%
Shenzhen Stock Exchange 10132.34 -26.06 -0.26%
Nikkei 225 21870.56 159.18 0.73%
NASDAQ Index 7984.16 36.81 0.46%
Dow Jonesindustry 26412.30 269.25 1.03%
British FTSE 7437.06 19.11 0.26%
De DAX 11999.93 64.73 0.54%
Method CAC40 5502.70 16.98 0.31%

  US stock marketFriday's close to a record high, after the US's largest bank, JP Morgan Chase announced strong results, the first quarterFinancial reportWorries that will curb the Wall Street stock market's strong rebound from last year's deep decline have been alleviated. The S&P 500 index was up and down in 11 sectors, with 10 sectors closing up and 1 sector closing; among them, the financial sector led the gains, followed byMaterial plate;medical insuranceThe sector is the only sector that has fallen.



name Latest price Ups and downs Quote change
Spot gold 1290.43 -2.07 -0.16%
SpotPalladium 1374.38 3.29 0.24%
Spotsilver 14.974 0.003 0.02%
Spot platinum 891.27 -1.94 -0.22%
Hong Kong Gold 11950.00 -14.00 -0.12%
nicecrudecontinuous 63.76 0.18 0.28%

  Gold priceIt fell slightly on Friday, as the impact of the weaker dollar was offset by the rise in the US stock market; the gold price hit the biggest one-day drop in the previous trading day in two weeks; the gold price fell below the key psychological barrier of $1,300 on Thursday, hitting a one-week low, due to the dollar grow rapidly. TIAA BankGlobal MarketChris Gaffney, president, said the dollar’s ​​strength has indeed hurtPrecious metalWe are seeing some reversals, most currencies are slightly higher against the US dollar; inflation is mild, trade problems are being resolved, and Brexit seems to be pushed to a later stage; so investors now have no incentive to buy gold.

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US stocks climbed to near record highs on Friday, after the US bank’s largest bank, JP Morgan Chase, announced its results, alleviating market concerns that the first quarter earnings season will rebound sharply for US stocks from last year’s decline.Dollar indexFalling 0.2%, it will record a four-week decline in the first week, restraining the price of gold from falling further; Gaffney said that the Fed’s further dovish tone, coupled with weak global economic growth data, may push up the price of gold, but for now, the price of gold is very high. Difficult to return to above $1,300.

Higher oil prices, supported by involuntary production cuts in Venezuela and Iran, coupled with the Libyan conflictCrude oil marketA tighter view, while China’s optimistic economic data eased concerns about a drop in demand for crude oil. After JP Morgan Chase announced strong results,Global stock marketGoing higher also benefits the oil market. The dollar index fell to a minimum of more than two weeks, making crude oil cheaper for non-US buyers. Phil Streible, senior commodities strategist at RJO Futures, said the stock market started well in the earnings quarter and the weaker US dollar index helped reaffirm confidence in the crude oil market.

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Both major indicators recorded a weekly gain of about 1%, Brent crude oil rose for the third consecutive week, and US crude oil rose for the sixth consecutive week. Oil prices have risen more than 30% this year due to cuts in the Organization of Petroleum Exporting Countries (OPEC), US sanctions against oil exporters Iran and Venezuela, and escalating conflicts in OPEC member countries Libya. RBC Capital Markets said in a report that the rise in oil prices driven by geopolitical factors may intermittently push oil prices closer to or even exceed the $80 mark per barrel this summer. The head of the Libyan National Oil Company warned on Friday that a renewed conflict could lead to a decline in crude oil production in the country.

Baker Hughes, an energy services company owned by General Electric, released its highly-reported report that oil drillers increased the number of oil rigs for the second consecutive week, bringing the total to 833. On the demand side, China's data showed that exports rebounded last month, helping to offset the impact of weaker imports and a downward revision of Germany's economic growth forecast.

Foreign exchange

The dollar weakened on Friday, and the US dollar index rose more than a two-week low to 96.74.EURrising. Traders said that this may be due to a Japanese bank plan to acquire a German for billions of dollars.aviationThe expected currency demand triggered by the financial business.China's economySigns of stabilization and a strong start to the US corporate earnings season have boosted demand for high-risk assets.USD against the euroRecorded the worst weekly performance in four weeks.

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US stocks regained record highs on Friday, as the performance of JPMorgan Chase, the largest bank in the US, eased investor concerns, fearing that the first quarter results will pour cold water on Wall Street stocks, which rebounded sharply from last year's downturn. Joe Manimbo, senior market analyst at Western Union Business Solutions, said that today's market sentiment is like a party. Good news from Chinese and US companies is driving the stock market higher, which has led to the disadvantage of safe-haven assets, which is why the dollar is underperforming.

  Euro against the dollarIt rose nearly 0.4% to $1.1295, the highest since March 26. Speculators have bought the euro, traders said, this is a response to reports about Mitsubishi UFJ Financial Group's plan to acquire the aviation financing business of the German Central Bank. The transaction was announced on March 1 and Mitsubishi UFJ Financial said it expects the transaction to be completed after June. Shaun Osborne, chief currency strategist at Scotiabank, said in a report that demand for the euro during the Asian session was well supported, as Japan’s against the euroJPYThe demand for currency pairs, but in recent weeks the euro as a whole seems to be 'cheap' - in our view, the $1.12 area is relatively low.

The data from Europe is encouraging. Industrial production in the Eurozone fell less than expected in February. Analysts said that China's data showed that the rebound in exports last month also helped offset the weakening of imports and the downward revision of Germany's economic growth forecast, boosting investors' preference for higher risk currencies.USD/JPYIt rose by 0.35%, and once rose to the 112 mark, hitting a new high of 112.09 since March 5. Since Japan is the world's largest creditor country, the yen will often benefit from geopolitical or financial market conditions.

  GBPIt rose by 0.10%. After the Brexit date was postponed, the direct risk of Brexit collapsed and the US dollar suffered widespread selling, but the sharp decline in volatility indicated that investors were reluctant to make big bets. Commodity and currency across the board rose sharply, supported by soaring oil prices, the dollar fell by nearly 0.5% against the Canadian dollar; boosted by gratifying Chinese credit and trade data and optimism about Sino-US trade negotiations,Australian dollar against the dollarIt rose nearly 0.95% to a new high of 0.7192 since February 27, and the New Zealand dollar rose to a nearly one-week high of 0.6781 against the US dollar.

  International financeNews

[British Finance Minister Hammond believes that it is very likely that the Labor Party will reach an agreement on the Brexit agreement in the next few weeks] The British Chancellor of the Exchequer Philip Hammond said that the British government and the main opposition parties agree on the basic principles of Brexit. It is possible to make a breakthrough in the next few weeks; British Chancellor of the Exchequer Philip Hammond also said that Teresa May will not resign before she leaves the European Union, and Teresa May will continue to serve as the British Prime Minister to complete the Brexit. Even if it means she will continue to hold the position by the end of October.

The Pacific Ocean(Quotes601099,Medical stock) Investment management companies: Emerging market bond valuations appear to be "cheap"] Lupin Rahman, head of sovereign credit for emerging markets in Pacific Investment Management, said he was benefiting from the Fed’s suspension of interest rate hikes and signs of a near-solvent US-China trade friction. The market is very positive and its valuation is very cheap, so emerging market credit looks very attractive.

[Trump:5GCompetition has begun, the United States must win]US consumptionThe News and Business Channel (CNBC) reported on the 12th that Trump said on the same day that by the end of this year, 92 US 5G cities will be ready to surpass the 48 cities in South Korea. He said: "This is a competition with great American companies. It is estimated that the wireless industry plans to invest 275 billion US dollars in 5G networks, rapidly creating 3 million jobs for the US and 500 billion US dollars for the US economy. Power. (World Wide Web)

[Anti-subsidy dispute escalation, the EU will tax $21.5 billion in US products] According to reports, in retaliation for the US government to provide illegal subsidies to Boeing, the EU is considering tariffs on US$21.5 billion worth of US products. Earlier, the US government proposed on the 8th that it would impose tariffs on EU products worth $11 billion in response to EU illegal subsidies for Airbus aircraft. (The country is a through train)

[IMF calls for measures to mitigate global economic risks] After the conclusion of the 39th Ministerial Conference of the International Monetary and Financial Committee in Washington, the IMF issued a communique stating that the global economic growth is slowing and the risks are still biased downwards; Fair and reciprocal trade in goods and services and investment are the main engines of economic growth and job creation; for this, trade contradictions need to be resolved and the World Trade Organization must be supported to implement the necessary reforms to improve its operations. (Xinhua News Agency)

[The Japanese Finance Minister promised to increase the consumption tax to 10% in October as planned] Japanese Finance Minister Taro Aso is in the internationalMonetary FundIn a statement submitted by the Steering Committee, "In October this year, we will increase the consumption tax from 8% to 10%." He said that through this tax rate increase, we will not only achieve medium and long-term fiscal consolidation, but also achieve Inclusive growth, some of which will be used to provide free early childhood education; Aso pointed out that although the global economic slowdown has put pressure on the Japanese economy, the fundamentals of the Japanese economy remain strong because of the tight job market and strong Corporate profits support private consumption and capital expenditures. The Japanese economy as a whole continues to recover moderately, mainly driven by domestic demand.

★ domestic macro

[MSCI: Delayed the conversion of MSCI China's full stock index to November] On April 13, Beijing time, the world's largest index company, Mingsheng Company (MSCI) announced the time to convert the MSCI China Index into the MSCI China All-Share Index. Postponed until November 26th, it was scheduled to be converted on June 1.

[The fourth batch of pension fund was officially approved] The official website of the CSRC has recently updated the application for approval of a number of pension fund funds. This is the fourth batch of approved pensions since the first batch of pension funds was approved in August 2018. Target fund. The 19 approved batch of 19 pension fund funds fell in 16fund company. Changsheng, Yinhua,Yi Fangda, Wanjia, Tianhong,Morgan,Qianhai Open Source,Pu Yin AnshengPeace,Agricultural Bank of China13 fund companies such as Harvest, Warburg, Dacheng, etc. received approvals from one fund, Guangfa, Penghua,Invesco Great WallThe fund also received 2 approvals for the pension fund. (China FundNewspaper)

[Chen Yulu, Vice President attends the G20 Finance Ministers and Central Bank Governors Meeting] From April 11 to 12, 2019, the G20 Finance Ministers and Central Bank Governors Meeting was held in Washington, DC.People's Bank of ChinaVice President Chen Yulu attended the meeting. The meeting focused on the global economic situation and risks, global imbalances, ageing and its policy implications, high-quality infrastructure investments,International financeStructure, financial sector reform, opportunities and challenges of financial innovation, international tax cooperation and other key issues of the 2019 G20 financial channel.

★ domestic stock market

CITIC Securities(Quotes600030,Medical stock): At the end of April, the second round of A-shares will be better for this year.] CITIC Securities Research Qin Peijing team releasedResearch reportIt is said that social and other data will strengthen the market game cycle, short-term A-shares may pulse up, but monetary policy rebalancing will limit market liquidity, and external risk factors will be strengthened. Maintaining the pre-judgment, in the environment of internal heat and cold, the end of April is the second round of A-shares this year, a better buy point.

[China's central bank deputy governor Chen Yulu:Chinese stock marketIt is showing signs of bottoming and recovery. Chen Yulu, deputy governor of the central bank, said on the 13th that the Chinese stock market is showing signs of bottoming out and recovery; with the diversification of international institutional investorsStock investmentAnd China is further openBond marketAnd the stock market, foreign securities investment inflows reached a record $120 billion last year; given the increasing inclusion of renminbi-denominated assets in international indices, the potential for foreign portfolio investment flows is rising.

[98 onlyKeeping stocksThis year, the floating profit of 30.481 billion yuan] has been disclosedannual report1485 data setsListed companyin,Social security fundAmong the top tradable shareholders of 298 stocks, the 298 stocks have performed well in the overall market this year. 296 stocks have risen to varying degrees during the year, and 173 stocks outperformed the same period.Market. According to the statistics of the annual report, at the end of the fourth quarter of last year, the above 298 individual social security agenciesFund positionThe market value is about 115.765 billion yuan. It is assumed that the latest positions of the social security funds on these stocks have not changed compared with the end of the fourth quarter of last year. The market value of their positions will increase by 30.581 billion yuan to 146.346 billion yuan. (Securities Daily)

[Industry: The head effect of the science and technology board service organization is highlighted] The industry insiders told reporters that since the beginning of the board in March, the board has been ruled for only one month, from the reserve of the listed companies that meet the requirements of the science and technology board. Look, the head organization is relatively more advantageous and has a larger market share. However, according to the current situation of science and technology board application, some small and medium-sized law firms have also participated in the declaration of multi-single-sector board projects, competing to seize the new opportunities in the legal service market brought by the IPO of the science and technology board.

Keyword reading:Dollar gold US crude oil

Editor in charge: Dou Xiaowei
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