Weekly

Influenced by Federal Reserve Chairman Powell's remarks that the prospect economy faces significant downside risks, the recent market rise has also pushed stock valuations to a lower attractive level.

The Dow Jones Industrial Average fell 500 points yesterday as investors dumped shares.

Oil prices fell 2% earlier, and Federal Reserve Powell's pessimistic remarks about the economic outlook once again triggered worries about weak demand for crude oil.

In addition, the OPEC report once again lowered its forecast for global crude oil demand this year, predicting a drop of 9.07 million barrels per day and a drop of 6.85 million barrels last month, mainly due to the global economic recession caused by the new pneumonia epidemic.

Saudi Arabia and Russia issued a joint statement expressing their willingness to coordinate production. Last night, data from the US Energy Information Agency showed that crude oil stocks unexpectedly decreased by nearly 750,000 barrels last week.

For the first time since January, the stock of crude oil in U.S. oil delivery base Kuxin decreased by 3 million barrels. With the support of oil price, new york's current-month futures returned to the level of 25.50 U.S. dollars per barrel, a slight increase of closing.

The exchange rate of the US dollar is stable. Federal Reserve Chairman Powell reiterated that the bureau's view on negative interest rates has not changed. This is not a matter for the policy-making committee to consider.

The dollar index rose about 0.2% to 100.2.  Gold saw a dramatic increase in the US market last night. After Powell's remarks, investors were affected by panic and fell to 1698 at the worst.

However, gold has always been a safe haven for investors, pushing it as high as 1718 to 1715.

The higher the risk in the investment market, the greater the value of gold. For example, if gold breaks through 1720, it will try 1730 this month.

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