Newsletter Evening News: The European Central Bank announced a reduction in QE!

At 20:00 every trading day, Newsletter will summarize and interpret the key data and financial news of the day, so stay tuned!

[Review of key data today]

Eurozone October 26 ECB deposit convenience rate -0.400% Predicted value -0.400% Previous value -0.400%

Eurozone October 26 ECB marginal loan instrument 0.250% predicted value 0.250% Previous value 0.250%

Eurozone October 26 ECB benchmark interest rate 0.000% forecast value 0.000% previous value 0.000%

Eurozone September M3 annual rate 5.1% forecast 5% previous value 5.0%

[Today's Global Holidays Announcement]

No holiday forecast today

(For more details, please pay attention to the newsletter official website)

[Oil market, gold market and foreign exchange market]

First, the international oil market

Oil prices fell, affected by the increase in US crude oil inventories and production

Crude oil prices fell slightly due to unexpected increases in US crude oil inventories, and US oil production and exports increased last week. At the same time, the recent dispute in the Kurdish region has continued to reduce the volume of crude oil transported by Iraq to the port of Ceyhan in Turkey by 300,000 barrels per day, which also provides some support for oil prices.

As of press time, US oil fell 0.10% to 52.13 US dollars / barrel; cloth oil fell 0.34%, reported 58.24 US dollars / barrel.

Second, the global gold market

Gold prices rise as the dollar weakens, and the market waits for ECB policy decisions

In the context of a weaker dollar and a stronger euro, the price of gold rose and the market expects the European Central Bank to reduce monetary stimulus at subsequent meetings. Tonight's heavy events gathered: the European Central Bank's interest rate decision, after the president of Catalonia, Spain, Puigmont will declare independence, in addition, the US House of Representatives voted on the budget resolution approved by the Senate, Trump tax reform key one Whether it is a smooth customs clearance or a renewed Republican rebellion is still full of uncertainty, so that precious metals such as gold and silver will rise to the top, and the spot gold will regain the $1,280 mark, and spot silver will also break through the $17 mark.

As of press time, spot gold basically recovered the gains, up 0.01% to 1,277.63 US dollars / ounce; gold futures were flat, reported 1279.99 US dollars / ounce.

Third, the global foreign exchange market

The euro is holding near a one-week high, waiting for the ECB's policy decision

The euro is holding near a one-week high, waiting for the ECB to decide later. The ECB policymakers are expected to outline a reduction in bond purchases, and analysts expect the euro's gains to rest if there are no hawkish surprises.

As of press time, the euro/dollar fell 0.07% to 1.1804.

[Today's financial news review]

I. International Financial News

1. Sweden and the Norwegian central bank keep interest rates unchanged

The Swedish central bank kept the benchmark interest rate unchanged at 0.50% and reiterated that it would not raise interest rates until mid-2018. The central bank said that it is important that the krona does not appreciate quickly. The Swedish central bank is worried that tightening the policy too quickly will push up the krona and reverse the fragility of inflation in recent months.

The Norwegian central bank maintains the benchmark interest rate unchanged at 0.50%. The central bank said in a statement that the prospects for the Norwegian economy and various aspects of the risk situation have not changed much since September.

2. Saudi Crown Prince: Support any measures to stabilize the oil market Saudi Aramco next year IPO!

Following the determination of the Saudi oil captain yesterday to end the three-year oversupply situation, Saudi Crown Prince Mohammed bin Salman also publicly supported any measures to stabilize the oil market on Thursday. “We are committed to working with all oil producing countries, whether OPEC or non-OPEC oil producers, and we have reached a great and historic agreement... We will support any supply and demand stabilization market.” Saudi Arabia Crown Prince Salman said in an interview with Reuters. At the same time, Salman put forward a more beautiful view on the prospects of the oil market. He believes that oil prices will definitely rise in the future.

3. German business: If Taylor is nominated for gold, it will further pressure down

With the expiration of the current chairmanship of the Federal Reserve, Yellen’s term, the topic of who will become the future of the Fed has attracted close attention from the market. Trump’s nomination is also a nerve in the market. In its latest report, Commerzbank said that gold is currently on the defensive. But if US President Trump nominates Stanford economist Taylor to become the next Fed chairman, the price of gold may fall further.

4. Trump: Yellen is still very good to consider re-electing the Fed chairman

According to an interview with Fox Business Network, US President Trump said he is considering letting Yellen be the chairman of the Fed again. He is weighing the desire to leave his mark on the Fed and changing the risk of leaders as the stock market rises. When asked about how much Yellen had the chance to be nominated again, Trump said, "I will definitely consider it." Trump said, "People like to make a biography for themselves. This may be one of the disadvantages that affect Yellen's nomination. But I think she is great, we talk very well, if you look at the market, obviously we work together Very good."

5.IEA: Net imports of crude oil in Southeast Asia will more than double by 2040

According to Reuters reported on Thursday (October 26), the International Energy Agency (IEA) predicts that net oil imports in Southeast Asia will more than double by 2040, as oil production in the region declines and coal refining capacity will expand. Meet the growth in demand for refined oil. Southeast Asia, plus China and India, will account for about two-thirds of the increase in global oil demand over the next 20 years.

6. Reduce QE! European Central Bank cuts monthly bond purchases to 30 billion euros

On Thursday (October 26), Beijing time, the European Central Bank announced interest rate resolutions, maintaining the three major interest rates unchanged, while reducing the monthly bond purchase plan from 60 billion euros to 30 billion euros, and lasting 9 from January 2018. month. The ECB's main refinancing rate, overnight lending rate, and overnight deposit rate were maintained at 0.0%, 0.25%, and -0.4%, respectively.

Second, domestic financial news

1. Pursue green GDP further, no longer raise the goal of doubling GDP, and implement new ideas

China's pursuit of green GDP is further coming to the fore. The 19th National Congress report no longer raises the goal of doubling GDP. The Chinese economy has changed from the pursuit of quantity to the quality of economic growth. This is also an important feature of the Chinese economy entering a new normal. Yang Weimin, deputy director of the China Central Financial and Economic Leading Group Office, said that in the modernization stage, it is necessary to achieve economic growth through the "three changes" of quality, efficiency and motivation, and not to raise the goal of doubling GDP, which is conducive to implementing the new development concept and promoting the cause of the party and the country. Comprehensive development.

2. Ministry of Commerce: will increase the scale and quality of foreign investment in the central and western regions, and optimize regional open layout

The inspector of the Foreign Investment Department of the Ministry of Commerce of the People's Republic of China said that the next step is to promote comprehensive opening up, optimize the regional open layout, increase the scale and quality of foreign investment in the central and western regions, and form an open pattern of linkage between the land and the sea and between the East and the West, and implement the 19th National Congress. The report proposes a strategy of “promoting a new pattern of comprehensive openness”.

3. The United States seeks to reach an "integrity" agreement with China

US Commerce Secretary Wilbur Ross said that President Trump will seek a "substantial" trade agreement with China during his visit to China next month, but key issues such as market access may take longer to produce results.

4. Issue 2 billion subscriptions of 20 billion! China's US dollar government bond was listed on the market today

On Thursday (October 26), Beijing time, the Ministry of Finance issued 2 billion US dollars of sovereign bonds in Hong Kong. This is China's first issue of US dollar sovereign bonds in 13 years, attracting international investors to subscribe. According to Reuters news, the amount of Chinese dollar sovereign bond subscription orders has reached 20 billion US dollars, ten times the planned issuance amount of 2 billion US dollars. Within one hour after the open circle purchase, the amount of Chinese dollar sovereign bond subscription orders has exceeded 10 billion US dollars, more than five times the planned issuance amount of 2 billion US dollars. Citigroup, HSBC, Standard Chartered, Deutsche Bank and many other foreign banks have participated. among them.

5. Shanghai stock index rose to 3,400 points on the high-speed rail plate

The Shanghai Composite Index continued its volatility and climbed upwards today. It closed up slightly by 0.3% and stood at the 3,400-point integer mark. It refreshed the new high since the beginning of the stock market at the beginning of last year with a wave of “five consecutive gains”. The total turnover of the two cities exceeded 500 billion yuan, and the industry sector was mixed.

6. Bloomberg survey: China's fourth quarter economy is expected to grow by 6.7%. The economic outlook is brighter.

In 2017, due to domestic policy support and supply-side reforms, and the strengthening of capital controls, the Chinese economy has performed more strongly in a globally favorable context, especially industrial growth. According to the latest survey of 58 economists by Bloomberg News on October 19-25, the Chinese economy is expected to grow 6.7% in the fourth quarter. The specific survey results show that 2017 GDP is expected to increase by 6.8%; previously estimated growth of 6.7%; 2018 GDP is expected to increase by 6.4%; previously estimated growth of 6.3%; 2018 first quarter GDP is expected to increase by 6.5%, before Estimated growth of 6.5%; GDP in the second quarter of 2018 is expected to increase by 6.5% year-on-year, previously estimated to increase by 6.4%.

[Global stock market]

--Asia--

China's Shanghai Composite Index closed up 0.31% on October 26 (Thursday), reporting 3407.57 points

China’s Shenzhen Component Index closed up 0.21% on October 26 (Thursday), at 11461.29 points

China's Shanghai and Shenzhen 300 Index closed 0.42% on October 26 (Thursday), at 3,993.58 points

China's GEM index closed down 0.13% on October 26 (Thursday), reporting 1910.72 points

Hong Kong's Hang Seng Index closed down 0.4% on Thursday, October 26, at 28,202.38

The Korea Composite Stock Price Index closed down 0.48% on Thursday, October 26, at 2480.63 points.

Japan's Nikkei 225 index closed 0.1% higher on October 26 (Thursday), at 21,739.78 points

Japan's Dongzheng Index closed 0.1% higher on October 26 (Thursday), reported 1753.9 points

The Taiwan Weighted Index closed down 0.2% on October 26 (Thursday) at 10,734.76

Australia's S&P/ASX 200 stock index closed 0.2% higher at October 26 (Thursday), at 5,916.30

--Europe--

UK FTSE 100 index opened on October 26 (Thursday) rose 0.08%

France's CAC 40 index opened on Thursday, October 26, up 0.14%

Germany's DAX index fell by 0.01% on Thursday, October 26 (Thursday)

Spain's IBEX 35 index fell 0.12% on October 26 (Thursday)

Italy's FTSE MIB index opened 0.13% on Thursday, Thursday (Thursday)