First, the basic message
The update of the Bank’s website on the 27th shows that since December 26th, the interest rate on financial institutions* (re) has been raised, with one-year increase of 0.52 percentage point to 3.85%; rediscount rate has been raised from 1.80% to 2.25%. Both were raised for the first time since January 2008. Wednesday (December 29) New York Mercantile Exchange West Texas Light Oil February 2011 ** settled at $91.12 a barrel, down $0.37 from the previous trading day.
Second, the technical status
Main warehouse receipt
Opening price
Closing price
Settlement Price
Volume
order amount
LL1101
10850
11100
10922
11
45
LL1103
11000
11090
11054
39
81
LLDPE's warehouse receipts index opened higher and higher today, again hitting the upper edge of the platform. As of the close, the LLDPE warehouse receipts index closed at 1021.52 points, up 6.13 points or 0.6% from the previous trading day. The Japanese K-line closed at the Yang Xian, and volume energy recovered from yesterday's rise. In terms of technical indicators, the MACD indicator has been enlarged by red bars, KDJ indicators have been diverging upwards, BOLL lines have been enlarged, and prices have rebounded quickly. A total of 51 batches of transactions were reported on the entire day, with 131 batches of orders.
Today's main product variety LL1103 opened higher and higher, gains gradually expanded. At the close of trading, the LL1103 closed at 11090 yuan/ton, up 91 yuan/ton, or 0.83%. On the K-line, the first line of light goes to the Yang line, and the center of gravity moves up again.
Third, the market outlook forecast
Today's exchange rate against the US dollar was reported at 6.6229, the eighth consecutive trading day to maintain its upward trend, setting a new high since the exchange rate reform. Behind it is the influx of hot money under the influence of interest rate hikes. This constitutes a direct benefit to the commodity market, and again A-shares temporarily stopped trading yesterday and today, LLDPE warehouse receipts followed the trend of opening higher. Investors should not ignore their impact on the real economy while enjoying the benefits of hot money. Tomorrow is the last trading day of 2010. LLDPE warehouse receipts are still not optimistic.