The market has collapsed? Gold plunged $ 35, US stocks plunged 3%! Fed release important signals.

Spot gold and silver >>>

On Tuesday, the spot gold's high fell back over US $ 35. At the close of US stocks, the spot gold fell below US $ 1630 / ounce and once fell to US $ 1625 / ounce, a drop of more than US $ 35 from its daily high. Spot silver fell below the $ 18 mark, and COMEX silver futures fell 5% in the day.

Forex market >>>

The US dollar index fell below the 99 mark and finally closed at 98.97, a drop of 0.32%. The dollar fell below the 110 mark against the yen, setting a new low for the week.

WTI >>>

WTI crude oil once fell below the $ 50 mark, the largest decline in the day exceeded 3%; Brent crude oil fell more than 2%, and once broke below 55 US dollars / barrel, for the first time since February 13.

Comment:

1.API crude oil inventory increased by 1.3 million barrels, lower than market expectations

US crude oil API stocks announced earlier recorded an increase of 1.3 million barrels, which was lower than the expected increase of 2.467 million barrels. US API crude oil inventories have been rising for the fifth consecutive week. Last week, US crude oil imports fell by 280,000 barrels per day. API data showed that US gasoline inventories unexpectedly increased last week.

2. Fed vice chairman is satisfied with current policy, hints that interest rate cuts is still not considered

Fed Deputy Chairman Clarida said on Tuesday that Fed officials saw the outbreak as a major threat to economic growth, but it is not clear to what extent. He also said that the Fed is now satisfied with the policy and will not cut interest rates. The Fed is monitoring the impact of the outbreak and will respond accordingly if the economic outlook changes.

#TradeNotes##gold##Fedcuts#