American market
As of 16:30 pm New York time (Beijing time, December 06, 5:30 am), the Standard & Poor's index rose 12.76 points, or 0.58%, to 2204.71 points; the Dow Jones Industrial Average rose 45.89 points, or 0.24%, to 19216.31 Point; Nasdaq index rose 53.24 points, or 1.01%, to 5308.89 points.
On Monday, US long-term bond yields were lower in shock trading, as investors believed that after Trump unexpectedly won the election, the massive sell-off in the public debt market was somewhat excessive. Short-term public debt yields rose slightly as the Fed is expected to raise interest rates next week at policy meetings. NNADI yGOLD BER, a strategist at TD Securities in New York, said of the long-term bond yields, "At present, the public debt market is seriously oversold. We have risen above the yield range, and the yield has soared. Now it may be entering the market. good time."
US stocks closed higher and the Dow hit a new high. A number of Fed officials expressed support for a rate hike. Investors generally expect the Fed to raise interest rates at the interest rate meeting held later this month. New York Fed President Dudley said that if the US economy continues to maintain its normal track, he supports a gradual rate hike. St. Louis Fed President James Brad said unemployment and inflation are approaching long-term levels; the St. Louis Fed model shows that it will only raise interest rates until 2019. He believes that if the economy only needs to raise interest rates once, it will reach a neutral interest rate. The unemployment rate and the inflation rate are close to the target, which makes this view reasonable.
The "irrational exuberance" speech warned by former Federal Reserve Chairman Alan Greenspan has been 20 years, but after Trump's accidental election, the three major stock indexes of the US stock market hit record highs in the past month, raising concerns about "irrational prosperity." Is the US stock market already overbought? In his speech on December 5, 1996, Greenspan stated that it is clear that the continued low inflation rate implies low uncertainty in the future, and the low risk premium means that US stocks and other assets will rise. This view is strikingly similar to the global deflation and falling interest rates in recent years.
European market
The British Financial Times 100 index rose 16.11 points, or 0.24%, to 6746.83 points; the German DAX index rose 171.48 points, or 1.63%, to 10684.83 points; the French CA C index rose 45.50 points, or 1.00%, to 4,574.32 points.
Bank of England Carney said that the Bank of England only tolerates a period of CPI exceeding the standard, and the tolerance for inflation beyond the target level is limited; raising inflation to 2% within three years will require a rate hike of 100 basis points. Carney further said that the UK economy will continue to maintain steady growth, fiscal tightening is expected to slow down; the cost of fully impacting the impact of the pound on CPI is too high; when the economy enters a recession, the poor are most affected; consumers are optimistic The tension between expectations and market pessimism will be resolved.
On Monday, the Italian stock market fell in shock trading, and its performance lags behind other European stock markets. As the country's constitutional referendum suffered a fiasco, investors' concerns about the country's fragile banking industry were activated. Dylan Ball, the portfolio manager of TempletonGloBA lEquityGroup, said that the result of the constitutional referendum was 'veto' was expected, and investors hedged the worst outcome.
Italian government bond yields rose after the Italian Prime Minister Renzi announced his resignation due to a constitutional referendum, but the sell-off of public debt prices was suppressed, as market expectations may not require an advance election. Investors had previously "rejected" the position for the referendum on Sunday, but there are signs that investors have settled their short positions in Italian assets and the euro, providing some support to the bond market. The euro rebounded from a 21-month low.
Asia Pacific Market
As of 09:50 Beijing time, the Nikkei 225 index was 18468.01 points, up 193.02 points, or 1.06%; the Korea Composite Index was 1985.70 points, up 22.34 points, or 1.14%; the Australian Stock Exchange common stock index was 5436.00 points, up 35.56 points. , an increase of 0.66%. The New Zealand 50 Index reported 6882.11 points, up 27.40 points, or 0.40%. The Hong Kong Hang Seng Index reported 22,694.27 points, up 188.72 points, or 0.84%.
As of press time, the Shanghai Composite Securities Index reported 3208.84 points; the Shanghai and Shenzhen 300 Index reported 3347.45 points.
FXStreet analyst Mehta said on Monday that the Australian dollar has now recovered to the level of the Italian referendum, which is due to higher commodity prices and the optimistic Chinese service PMI report. Mehta said that the Australian dollar has now recovered some of the lost ground in the Asian period. The Australian dollar staged a solid rebound as commodity prices rose (especially copper prices), and the Australian dollar once broke the 20-day moving average of 0.7441 during the Asian session.
Asian stocks closed, the whole line fell, A shares fell more than 1%. The Italian people vetoed the constitutional amendment bill promoted by the current Prime Minister Renzi. The euro fell by nearly 1.5% against the US dollar, refreshing the new low since March 2015 to 1.0503. Market analysts believe that the results of the Italian referendum may be seen as a sign of the full rise of European anti-institutional forces, and investors' confidence in the euro will be potentially eroded on the eve of the upcoming elections in France and Germany next year. The instability of the world political situation has intensified, dragging down confidence in the global market.
International economic data released today and forthcoming
time
event
importance
The former value
market prediction
result
05:45
New Zealand monthly construction permit monthly rate
low
0.2%
118.6
06:30
Australia last week ANZ Consumer Confidence Index
low
115.4
0.1%
08:00
Annual rate of monthly labor cash income in Japan
in
0.2%
0.2%
0%
Japan's monthly actual cash income annual rate
in
0.9%
1.3%
08:01
UK monthly BRC overall retail sales annual rate
in
2.4%
0.6%
UK monthly BRC same store retail sales annual rate
low
1.7%
1.7%
08:30
Australia's third quarter current account
in
- 15.5 billion Australian dollars
- 13.5 billion Australian dollars
- 11.4 billion Australian dollars
11:30
Australian Monthly Bank Rate Resolution
high
1.5%
1.5%
15:00
German monthly factory order monthly rate (after seasonal adjustment)
low
-0.6%
0.6%
German monthly factory order annual rate (not seasonally adjusted)
low
2.6%
1.6%
16:15
Swiss monthly consumer price index annual rate
in
-0.2%
0.2%
Swiss monthly and consumer price index annual rate
in
-0.3%
Swiss monthly consumer price index monthly rate
low
0.1%
-0.1%
Swiss monthly and consumer price index monthly rate
low
0.1%
16:30
German monthly construction industry purchasing managers index
in
52.9
17:10
Italian Monthly Retail Purchasing Managers Index
in
46.5
Eurozone Monthly Retail Purchasing Managers Index
in
48.6
German Monthly Retail Purchasing Managers Index
in
French monthly retail purchasing managers index
low
47.5
18:00
Eurozone third quarter GDP annual rate final value
high
1.6%
1.6%
Eurozone third quarter GDP quarterly final value
in
0.3%
0.3%
21:30
US Monthly Trade Account
in
- $ 36.4 billion
- 39.6 billion US dollars
US third quarter non-agricultural productivity final value
in
3.1%
3.3%
US third quarter non-agricultural unit labor cost final value
low
0.3%
0.3%
21:30
Canadian Monthly Trade Account
in
-40.8 million Canadian dollars
-20 billion Canadian dollars
New Zealand Monthly GDT Dairy Price Index
low
4.5%
23:00
US monthly durable goods order monthly rate final value
high
4.8%
2.0%
US monthly durable goods order monthly rate final value (except transportation)
in
1%
0.5%
US monthly factory order monthly rate
low
0.3%
2.5%
US monthly factory order monthly rate in addition to transportation
low
0.6%
US Monthly IBD/TIPP Economic Optimism Index
low
51.4
23:00
(Seasonally adjusted), Canada March Ivey Purchasing Managers Index
in
59.7
Financial events
time
country
location
event
03:05
United States
Phoenix city
James Bullard, chairman of the St. Louis Fed, and 2016 FOMC, spoke at the 53rd Economic Forecast Luncheon hosted by Arizona State University's WP Carey School of Business on US economic and monetary policy.
11:30
Australia
Sydney
· The Reserve Bank of Australia announced the interest rate resolution and issued a policy statement.
Central bank interest rate changes
Central bank
Latest interest rate
Ups and downs
Next announcement date
Federal Reserve
0.25-0.5
constant
2016-12-15
European Central Bank
0.00
Fall
2016-12-08
Bank of England
0.25
Fall
2016-12-15
Bank of Japan
-0.1
constant
2016-12-20
Swiss central bank
-1.25%-0.25%
constant
2016-12-15
Bank of Canada
0.50
constant
2016-12-07
Australian Central Bank
1.50
constant
New Zealand Central Bank
1.75
Fall
2017-02-09
EUR/USD
Support level: 1.07236; resistance level: 1.07904
Image source: BMFNUnitrader
GBP/USD
Support level: 1.26926; resistance level: 1.27513
Image source: BMFNUnitrader
AUD/USD
Support level 0.74085; resistance level: 0.74571
Image source: BMFNUnitrader
USD/JPY
Support level 113.352; resistance level: 114.158
Image source: BMFNUnitrader
Gold spot
Support level: 1176.65; resistance level: 1177.16
Image source: BMFNUnitrader
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2016-12-6
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