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USA
∎ As investors awaited a new batch of economic data and comments from Federal Reserve officials, U.S. bond yields climbed after falling sharply last week, and the main U.S. stock indexes all closed higher on Monday (17th). The Dow ended nearly 190 points lower, ending its fourth consecutive session of losses, while the S&P 500 closed up 0.77%, reaching a new all-time high.

∎ On the political and economic front, Philadelphia Fed President Patrick Harker said that based on his current forecast, it is appropriate to cut interest rates once this year. These remarks revealed the message that high interest rates may continue. Markets now price a 61.5% chance of a quarter-point rate cut in September, down from about 70% in the previous session, according to CME's FedWatch tool.

foreign exchange market
∎ The U.S. dollar fell against the euro on Monday (18th) as the euro recovered from more than a month low hit by political turmoil last week. However, foreign exchange traders analyze that the overall market trend is still favorable to the US dollar. The U.S. dollar index , which tracks the greenback against six major currencies, fell 0.2% to 105.35 in late New York trade.

∎ Sterling rose 0.15% to $1.2707 on Monday, but remained close to the one-month low of $1.26575 hit in the previous session, as traders awaited this week's Bank of England (BoE) meeting. The yen remains near 34-year lows against the dollar after the Bank of Japan (BoJ) pushed for a reduction in bond purchases on Friday. USD/JPY rose 0.2% to 157.73 yen. The euro rose 0.25% to $1.07305 on Monday. The euro hit a six-week low of $1.066775 last week following news of early parliamentary elections in France.

energy market
∎ Crude oil futures prices rose sharply this week (17th), continuing last week's gains and breaking away from early losses due to a drop in China's crude oil demand in May. Crude oil prices appear to have found a footing after Brent and WTI crude oil prices hit their lowest levels since February after the Organization of the Petroleum Exporting Countries and its allies, known as OPEC+, decided on June 2 to phase out voluntary production cuts starting in October. China's refining output fell 1.8% year-on-year in May, Reuters reported, citing data from China's National Bureau of Statistics.

∎ West Texas Intermediate (WTI) crude oil futures for July delivery rose $1.88, or 2.4%, to settle at $80.33 a barrel. Brent crude futures for August delivery rose $1.63, or 2%, to settle at $84.25 a barrel.

precious metals market
∎ Gold prices fell on Monday (17th), impacted by higher government bond yields, while investors await more U.S. data and comments from Federal Reserve (Fed) officials this week for more clues on the outlook for monetary policy. U.S. 10-year Treasury yields edged higher on Monday after falling sharply last week, reducing the appeal of non-yielding gold for investors. Traders are closely watching upcoming comments from New York Fed President John Williams, Philadelphia Fed President Patrick Harker and Fed Governor Lisa Cook.

∎ Spot gold fell 0.8% to $2,315.14 an ounce. Gold futures for August delivery fell 0.8% to settle at $2,330.10 an ounce.

Agricultural products market
∎ Chicago Board of Trade (CBOT) soybean futures fell sharply on Monday, traders said, as selling pressure from funds last Friday continued into this week. Trading hours will be shortened this week due to a public holiday. CBOT July soybean futures (SN24) ended down 22 cents at $11.57-3/4 a bushel. CBOT July soybean meal futures (SMN24) ended $8.10 lower at $360.30 per short ton. CBOT July soybean oil futures (BON24) closed 0.05 cents higher at 43.73 cents per pound.

∎ Corn futures ended lower for a second consecutive trading day, as traders selling positions continued to cause pressure, and market participants turned their attention to U.S. weather conditions at the beginning of the growing season. The July corn contract (CN24) settled down 6-1/4 cents at $4.43-3/4 per bushel, the lowest level since June 6. .

"There's really no appetite to be true sellers right now because people think the buying momentum will continue and stocks will continue to climb higher," said Daniela Hathorn, senior market analyst at Capital.com. "In fact, the rally has been driven primarily by a handful of stocks. , which means there is a greater chance of retracement.”

The content published in this publication is for reference only, and every effort has been made to be correct and complete. However, due to changes in time and objective market factors, the relevant conditions of the industry, market or individual stocks may change. Investors must consider their own investment needs and risks.