[Global Market Quotation]
seized the market and immediately went to Futures Connect APP to layout trading
overnight. The domestic market rose more and fell less. asphalt led the rise with a 3.51% margin, with crude oil rising 2.59% closely following; palm fell 2.91%.
The foreign market is also mainly rising, and LME lead soared by 5.21%. WTI crude oil rose by more than 4.5%.
[Macro News]
China Central Bank : Don’t bet RMB exchange rate unilateral appreciation or depreciation, long-term bet will lose
On September 27, 2022, the National Foreign Exchange Market Self-Discipline Mechanism Video Conference was held. The meeting emphasized that the foreign exchange market is of great importance and maintaining stability is the first priority. The RMB exchange rate remains basically stable and has a solid foundation. Compared with many economies facing the risk of stagflation, my country's economy continues to recover and develop in general, the price level is basically stable, and the trade surplus is expected to remain high. As the macro-policy effect appears, the basic economic situation will be more solid. The current foreign exchange market is generally standardized and orderly, but there are also a few companies following the trend of "exchange speculation" and financial institutions operating illegally. We should strengthen guidance and correction. It must be recognized that the exchange rate points are inaccurate, and two-way fluctuations are the norm. Don’t bet on the unilateral appreciation or depreciation of the RMB exchange rate. If you bet for a long time, you will lose.
The People's Bank of China carried out 200 billion yuan of 7-day and 14-day reverse repurchase operations yesterday
In order to maintain stable liquidity at the end of the quarter, on September 28, 2022, People's Bank of China carried out 200 billion yuan of 7-day and 14-day reverse repurchase operations in through interest rate bidding. The People's Bank of China carried out 7-day reverse repurchase operations of 133 billion yuan and 14-day reverse repurchase operations today, because 2 billion yuan of reverse repurchase expired today, and achieved a net injection of 198 billion yuan on the same day.
Federal dovish senior official said that the progress in anti-high inflation was not clear enough to support the rate hike in November 75 basis points
Atlanta Fed Chairman Bostic said that his benchmark forecast is to add 75 basis points in November and add 50 basis points in December, all depending on future data. He reiterated the theory of suspending interest rate hikes, saying that he should avoid excessive tightening and stop before inflation drops to 2%. He also mentioned that he faced a lot of geopolitical uncertainty and paid attention to the situation in the UK and other places.
Bank of England announces "unlimited" temporary bond purchases aim to save the market? Global Treasury bonds soared
The Bank of England issued a statement on Wednesday saying it would temporarily purchase British long-term Treasury bonds "at any necessary scale" to restore order in the UK bond market. After the announcement of the statement, British Treasury bonds soared across the board, and the pound and the dollar fell sharply. Global Treasury bonds also soared, including the 5-markets of Britain, France, Germany and Italy, and even the Japanese bonds stopped falling and rose. The Bank of England made its big move, earlier on Wednesday, the UK's 30-year Treasury yield rose to its highest level since 1998, reaching 5.14%. Media said the Bank of England quickly reversed its previous "no intervention" stance on Wednesday because of the huge margin recovery requirements faced by pension funds. Investment Bank and fund managers have warned the Bank of England in recent days that the requirement to recover margin could trigger a crash in the UK bond market.
EU announces the eighth round of sanctions against Russia
According to CCTV News, von der Leyen announced that it will completely ban the sales of Russian goods in the EU market, which will reduce Russia's revenue by 7 billion euros; increase the list of goods, technologies and services prohibited exports to Russia; at the same time, the EU will also announce the legal basis for setting price limits for Russian oil and take measures to punish attempts to evade EU sanctions against Russia. On the same day, the media said that the EU continued to discuss imposing a "price cap" on Russian oil and considered adding shipping restrictions to the sanctions plan on Russian oil. Analysts believe that the "oil price ceiling" is a dangerous gambling.
Russia denies the production of a "North Stream" pipeline leak accident in the EU believes that the accident was intentional damage, causing
Russian President's press secretary Peskov told Russian media on the 28th that the so-called Russian participation in the production of " Nord Stream-1" and " Nord Stream-2" natural gas pipeline leak accidents is a "foreseeable stupid speculation." The EU's Senior Representative for Foreign Affairs and Security Policy, Borrelli, issued a statement on the same day saying that all information shows that the accident was caused by intentional damage.
German security department: The "North Stream" pipeline is not suitable for use before it is repaired
German security department believes that the "North Stream-1" and "North Stream-2" natural gas pipelines are not suitable for use again after being damaged. If the damaged column is not repaired as soon as possible, a large amount of seawater will pour into the natural gas pipeline, causing pipeline corrosion. On the same day, the Danish Energy Agency said that more than half of the natural gas in the "North Stream" pipeline has been lost, and the air pressure in the pipeline has been detected has been reduced, and it is expected that the natural gas in the pipeline will flow out around October 2. Denmark said it may take "one to two weeks" to start inspections of damaged pipelines due to pressure from gas leaks.
Germany seeks diversified sources of natural gas
As the European energy crisis intensifies, Germany and other major European countries have been continuously expanding their sources of energy supply in recent years. On September 27, local time, Mueller, director of the Federal Network Administration of the German energy regulator, said that the German government is working to increase the routes to import natural gas from neighboring European countries to make up for the insufficient supply of Russian natural gas pipelines. Mueller said that Germany is currently focusing on increasing imports of natural gas from Norway , Belgium , Netherlands and France, and strengthen long-term cooperation with European countries in energy.
Slovak Prime Minister : Soaring energy prices have caused the country's economy to collapse
Slovak Prime Minister Edward Hegel said on September 28 that unless the EU provides more financial aid, the energy crisis and rising electricity prices may push the Slovak economy to the brink of collapse. If the EU cannot help, the company responsible for energy supply in Slovakia will have to be nationalized. Hegel said that the huge profit tax that the EU imposed on energy companies should be distributed evenly, and Slovakia should receive 1.5 billion euros of it. In addition, Hegel also hopes that the EU will provide another 5 billion euros to Slovakia from unused development funds.
[Industry News]
National Development and Reform Commission: This year's bumper grain harvest is in sight, and the supply is abundant and the market is stable
On September 28, Wu Xiao, Director of the Rural Economy Department of the National Development and Reform Commission, said at a press conference of the National Development and Reform Commission that at present, my country's grain harvest has been bumper, supply is abundant and the market is stable year by year, which is in sharp contrast to the ups and downs of the international grain market. We adhere to the bottom line of basic self-sufficiency in grains and absolute safety in food, make great efforts to adjust the agricultural structure, and do everything possible to expand soybeans and oil. This year's bumper grain harvest is in sight.
On September 30, 2022, the central reserve frozen pork was released from the warehouse and released 20,000 tons
Huachu.com issued a notice on matters related to the bidding transaction for the central reserve frozen pork was released from the warehouse and released on September 30, 2022, and the bidding transaction was 20,000 tons.
Daqin Railway centralized maintenance construction starts
In order to lay a solid foundation for the upcoming coal winter transportation, the Daqin Railway will start a 25-day centralized maintenance from September 28. The Daqin Railway starts from Datong, Shanxi in the west and ends at Qinhuangdao, Hebei in the east, and runs across Shanxi, Hebei, Beijing and Tianjin. It is 653 kilometers long. Since the national railway launched a special action to ensure the supply of electric coal in June this year, the traffic volume of the Daqin Line has exceeded 120 million tons, an increase of 10.2% year-on-year, setting a record for the same period since the establishment of the line.
Anec: It is expected that this week's Brazilian soybean exports will be 1.3067 million tons
Brazil's National Cereal Exporters Association (Anec) predicts that from September 25 to October 1, Brazil's soybean exports will be 1.3067 million tons, 847,200 tons last week; soybean meal exports will be 572,800 tons, 573,800 tons last week; corn exports will be 1.7567 million tons, 1.937,800 tons last week.
Buenos Aires Exchange announced Argentina soybean and corn production forecast
Buenos Aires Cereal Exchange said on Wednesday that it is expected that Argentina's soybean planting area in 2022/23 will be 16.7 million hectares and a production of 48 million tons; it is expected that Argentina's corn planting area in 2022/23 will remain unchanged, with a production of 50 million tons.
U.S. EIAStrategic oil reserve inventory fell to its lowest since the week of July 27, 1984
EIA latest data showed that as of the week of September 23, the U.S. Strategic oil reserve (SPR) inventory decreased by 4.575 million barrels to 422.6 million barrels, a decrease of 1.07%, the lowest since the week of July 27, 1984.
The U.S. commercial crude oil inventories except for strategic reserves fell by 215,000 barrels to 431 million barrels, a decrease of 0.05%.
[Today's attention]
20:30 The number of people who requested unemployment benefits in the United States to September 24th in the week
20:30 The final value of the annualized quarterly rate of the US real GDP in the second quarter
20:30 The final value of the actual personal consumption expenditure in the second quarter
20:30 The final value of the second quarter core PCE price index in the second quarter annualized quarterly rate
21:30 The Federal Reserve Brad delivered a speech on the outlook for the US economy
22:30 EIA natural gas inventory for the United States to September 23
