The impact of a series of weak economic data being released by the United States, Europe, China, commodity prices decline on Thursday expanded. In particular, crude oil prices fell below $ 80 mark, a red light once again to the state of health of the global economy.
More importantly, the international rating agencies Moody's announced after the end of the 21 European trading session, down 15 large banks, including Bank of America credit rating exacerbated market concerns about the risk assets of collective experience selling crazy. Overnight, the U.S. Dow fell 1.96 percent, the highest of the year the second largest decline. The capital markets of the Asian trading session, and all were hit Hong Kong stocks fall as U.S. stocks lower on the 22nd of 19000 points, the Korean stock market by a whopping 2.21%.
Crude oil, copper and other commodities are generally regarded as a barometer of industrial activity and global economic conditions.
The international oil price crash of 21, 22, continues to plumb to $ 77.56 a barrel, hit a near 18 month low. Since then, oil prices rebounded slightly, but still failed to break through the $ 80 an important critical point. Time of this writing, New York oil prices (NYMEX light crude oil) is still hovering at around $ 78.6. Brent oil prices fell below $ 90, was rushed to $ 90.47, hovering at around $ 90.23 to the time of this writing.
22, LME3-month copper futures also hit a six month low of $ 7219.50 / t, the time of this writing is still weak copper prices hovering at $ 7,263.25 / ton.
The U.S. Federal Reserve Board (Federal Reserve, referred to as the Fed), 21 had not announced a more powerful stimulus, investors disappointed. The same day the U.S. Department of Labor data show that in the week ended June 16, initial claims for unemployment benefits slightly to reduce the 2,000, a decrease to lower than expected; the previous day, the U.S. Federal Reserve Board sharp decline in U.S. economic growth this year is expected to . Greek left-wing political party officials said on the 21st, each party of the coalition government of Greece agree to international creditors to postpone for two years to 2016 to reach assistance in Europe, 21 June, the euro zone manufacturing purchasing managers index for the first five months of decline; agreement calls for the target. 8 in China, HSBC announced in June, China's manufacturing purchasing managers' index initial value fell, marking the lowest level of the year.
Investors on the economic outlook of the world's major industrial countries is the lack of confidence, serious weighing on the global commodity prices. At this point, copper and oil prices higher than those in early March this year highs for the year, were down about 30% and 17%, to reflect the severity of the current global economic issues, a disturbing sign.
Morgan Stanley said that commodity prices have begun to fall, as a leading indicator of the entire commodity markets copper prices reversed, which suggests that the exposure on the market is shrinking. Casper Burgering of the Netherlands Bank, said the research reported in the metals markets by the macroeconomic situation led to the global economy is cooling, metals markets also will be deteriorating. He added, macroeconomic uncertainty (especially within the euro area) short-term will continue to be depressed metal prices.
But there are also some market participants said that the fall in commodity prices may not accurately reflect the state of the global economy, the fundamentals of base metals and crude oil in the second half seems to be improved. The International Energy Agency (IEA), the main Xifan De Hoeven 22, said emerging market demand remains strong, the market should not assume that crude oil will continue to drop, but he also believes that economic recovery is not something that happens overnight.
Other News:
Rent Airports of Thailand to engage in research suspected an ulterior motive.
Crude oil prices fell below $ 80 a barrel, the critical point
Machine tool industry: used five kinds of rolling bearings
June 21 News Overview
Diaoyu Islands, the action frequently reflects the chaos of Japan
Ore price rise about 40% of the Ministry of Industry For the establishment escor
People's Daily published an article batch of Japanese right-wing to purchase the
Steel trading business transformation to a double challenge to the iron and stee
