Jiaxing Market: Unknown direction

The flat silk index fell slightly, and the silk composite index fell 0.1% to close at 3,342.42. The 0925 and 0325 Cognac respectively closed at 104,000 yuan and 110,900 yuan respectively, unchanged from yesterday; the 0925B wire closed at 33,930 yuan, unchanged from yesterday, 0325B silk. The drop of 1,500 yuan to close at 342,600 yuan; short-term contract 0905B rose 300 yuan to close at 338,700 yuan. All day B wire traded 26 hands.

On the stock market, basically stable operation, after the previous price rushed up, there are active shipments, prices have dropped, and the overall situation is tight supply and weak demand coexist.

Macroscopically, the external market sentiment was relatively warm overnight. The Federal Reserve announced the minutes of FOMC meeting minutes earlier this month. Several Fed officials believe that unless the U.S. economy shows signs of sustained recovery, it may adopt stimulus measures in the near future. From this standpoint, it is clear that this tone of support for radical easing measures is much clearer than the previous issue. At the end of the day, the three major U.S. stock indexes closed mixed. New York's oil price rose by 0.43%. The price of gold fell slightly and the U.S. dollar index continued to fall sharply. On the domestic front, the initial HSBC PMI for August was 47.8, which fell to a new low in nine months. HSBC said that the external demand slump was the main factor that dragged down the index. In addition, China’s central bank governor, Zhou Xiaochuan, pointed out in a speech yesterday that it is possible to use any monetary policy tools, which also increases the market’s imagination for policy tools.