The U.S. Consulate General in Chengdu lowered the American flag! Gold bulls broke through the 1910 mark!

Forex market

Euro: EUR/USD rose for the sixth consecutive day, closing at 1.1654, an increase of 0.51%. Technically, the initial resistance for the upward exchange rate is at 1.1660, the further resistance is at 1.1730, and the key resistance is at 1.1814; the initial support for the downward exchange rate is at 1.1500, the further support is at 1.1460, and the more critical support is at 1.1380.

GBP: GBP/USD rose for the second consecutive day, closing at 1.2789, an increase of 0.39%. Technically, the initial resistance for the upward exchange rate is at 1.2815, the further resistance is at 1.2845, and the key resistance is at 1.3000; the initial support for the downward exchange rate is at 1.2700, the further support is at 1.2665, and the more critical support is at 1.2534.

Japanese yen: The dollar/yen fell for the second consecutive day, closing at 106.12, a decrease of 0.68%. Technically, the initial resistance for the upward exchange rate is at 107.30, the further resistance is at 107.80, and the key resistance is at 108.40; the initial support for the downward exchange rate is at 105.60, the further support is at 105.00, and the more critical support is at 104.55.

stock market

Due to the sell-off of technology stocks and rising tensions between China and the United States, U.S. stocks closed down on Friday (July 24), ending a week of turbulent trading on Wall Street: The Dow Jones Industrial Average fell by 182.44 points to 26469.89 points, a decrease of 0.6%; S&P 500 The index fell 0.6%, or 20.03 points, to 3,215.63 points; the Nasdaq Composite Index fell 0.9%, or 98.24 points, to 10,363.18 points.

Escalating diplomatic tensions between China and the United States, the world’s two largest economies, continued to suppress market sentiment. European stocks closed lower on Friday (July 24), and major stock indexes and various sectors recorded declines. The European Stoxx 600 index closed down 6.36 points, or 1.70%, to 367.29 points. Among them, technology stocks led the decline, a decline of 3.8%. The German DAX index closed down 265.33 points, or 2.02%, to 12,838.06 points. The British FTSE 100 index closed down 87.62 points, or 1.41%, to 6123.82 points. The French CAC40 index closed down 77.33 points, or 1.54%, to 4956.43 points. Spain’s IBEX35 index closed down 87.90 points, or 1.19%, to 7297.00 points. Italy’s FTSE index closed down 379.19 points, or 1.85%, to 20075.27 points. The European Stoxx 50 index closed down 60.69 points, or 1.80%, to 3,31.05 points.

Commodity market

International spot gold opened at 1886.88 US dollars per ounce in Asian markets in early trading on Friday, rising to a maximum of 1906.00 US dollars per ounce, and the lowest dropped to 1881.10 US dollars per ounce to close at 1900.97 US dollars per ounce, setting a record closing high, rising 14.04 US dollars or 0.74%. This week, spot gold closed up $91.18 or 5.04%.

COMEX August gold futures closed up 0.4%, at $1,897.50 per ounce, setting a record closing high. This also marked the sixth consecutive day that gold rose. Gold also set a record of rising for seven consecutive weeks.

News about the new crown pandemic and the collapse of Wall Street technology stocks added uncertainty to the economic outlook. Oil prices closed on Friday (July 24) mixed: US WTI crude oil September futures rose 22 cents to $41.07/ Barrel, or 0.5%, earlier hit an intraday low of 40.83 US dollars / barrel; Brent crude oil September futures rose 3 cents to 43.34 US dollars / barrel. This week, the price of WTI crude oil fell by 0.5%, and the price of Bursa oil rose slightly by 0.5%.

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