OPEC's final plans come out this week, with four of the most important:
① Next month, production will increase from 7.7 million B / D to 7.2 million B / d. ② The meeting is held once a month, and the adjustment range of each meeting is 500000 barrels. ③ Those who fail to meet the standard in the process of production reduction will make up for the insufficient part before the end of March. ④ Efforts will be made to increase production by about 2 million barrels next year.
In short, it's simple. OPEC countries cannot retreat. Now that the vaccine is out, all that's left is to recover. However, there is a process in the process. I haven't paid much attention to crude oil recently. In fact, when Pfizer launched the vaccine, it was not only a short start for gold, but also a bull market for crude oil. Later, I think that crude oil will show a short-term rise and long-term volatility, that is, the rise is relatively short-term and rapid, which is generally caused by events. Since the recovery rate of actual consumption will not be faster than expected, shock is the process of waiting for the reality to synchronize with the expectation, which is profitable. You can make your own decisions.
Dollar index The overall direction judgment remains unchanged.
gold The logic of vaccines still exists. The short-term bullish is due to the new expected progress of the stimulus bill, coupled with the rapid increase in the frequency of domestic conflicts in the United States. In a short period of time, I did not have a deeper identification with bulls. As far as I'm concerned, I'm not going to buy gold for the time being and I need to study its continuity further. At present, the UK has an important thing to do this weekend. Although brexit has long digested the market, if it fails, it will still have an impact on the risk aversion sentiment next week. This should be noticed!
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'According to Dow jones market data the west texas crude for June delivery rose $1.20, or 1.9%, to settle at $65.69 a barrel on the New York Mercantile change. July Brent crude, the global benchmark, added $1.32, or almost 2%, at $68.88 a barrel on ICE Futures Europe
June delivery gold lost $15.80, or 0.9%, at $1,776 an ounce, following a 1.4% gain on Monday that helped the metal notch the highest settlement for a most-active contract since April 21.'
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