U.S. 10-year Treasury yields rose, U.S. stock indexes fell, gold fluctuated

Fundamentals:

EIA data shows that the U.S. EIA crude oil inventories increased by 2.025 million barrels in the week to June 3; gasoline inventories decreased by 812,000 barrels; Cushing crude oil inventories decreased by 1.593 million barrels; Strategic Petroleum Reserve (SPR) inventories fell 7.269 million barrels to 1987 It was the lowest since the week of March 27, 1982, and the decline was the largest since the week of August 20, 1982, marking the 39th consecutive week of decline. The UAE's energy minister said that at the current rate of consumption, the market is nowhere near its peak. If Russian oil and gas were to be completely withdrawn from the market, prices could soar to “unforeseeable” levels.

U.S. Treasury yields rose on Wednesday, with U.S. 10-year Treasury yields up 6 basis points to 3.029%, the highest level since May 11, and U.S. two-year Treasury yields up 4 basis points to 2.774%. The U.S. Treasury Department auctioned $33 billion in 10-year Treasury bonds, and the winning rate was 3.030%, about a basis point higher than the pre-auction trading level; the bid-to-cover ratio was 2.41, the lowest level since November.

Technical:

Dow: The three major U.S. stock indexes fell on Wednesday on concerns that global central banks will continue to raise interest rates to ease inflationary pressures. The Dow Jones Industrial Average fell 0.81% to 32,910.90. The Nasdaq Composite fell 0.73% to 12,086.27. The US Standard & Poor's 500 index fell 1.08% to 4,115.77 points. The Dow's small band up to the bulls stepped back to the 32700 positions, focusing on the 34100 positions of the band bull's target.

USD: The yield on the 10-year U.S. Treasury bond fluctuated higher to around 3.3%, and the U.S. dollar index remained high and fluctuated, closing up 0.176% at 102.57. The dollar is at the first-line pressure level of 103, and if the pressure level is effective, focus on the next target near 100.7.

Gold: The U.S. 10-year Treasury bond yield once again stood at the 3% mark, rising to 3.059% at one point in the session. The Feds interest rate hike and balance sheet reduction prospects and the high inflation environment continued to support U.S. bond yields. Rising Treasury yields weighed on gold prices. The price of gold is organized around $1850. If it stands firm at the support level of 1850, the first target position is 1863.

Crude oil: Crude oil prices rose significantly after the EIA inventory announcement. WTI crude oil closed up 2.45% at $123.22 per barrel; Brent crude oil closed up 2.32% at $125.72 per barrel. The crude oil market has repeatedly tested the pressure level of 108. At present, crude oil has exceeded the pressure level of 108. Pay attention to the historical high of US crude oil at 127. It is cautious to chase more crude oil from the historical high.

(The above analysis only represents the analyst's point of view, the forex market is risky, and investors should be cautious)