MHMarkets ：Biden said an important agreement with Saudi Arabia was reached, and U.S. retail sales data was better than expected

Fundamentals：

U. S. President Joe Biden has said some important deals have been reached with Saudi Arabia and expects we will see further steps on the energy front in the coming weeks. The Saudi foreign minister responded that oil production was not discussed at the Saudi summit in Jeddah, and that OPEC+ will continue to assess the oil market to ensure adequate supply, and if we see oil shortages, there will be more production, and he also said , The 13 million barrels per day that the crown prince mentioned during his meeting with Biden was Saudi Arabia's oil production capacity.

       US retail sales in June recorded a monthly rate of 1%, expected 0.8%, the previous value of -0.30%. The data eased fears of a recession, raising the odds that the Federal Reserve will hike rates aggressively this month. Fed's Daly said retail sales data showed people were still spending. The U.S. University of Michigan consumer confidence index in July recorded a preliminary reading of 51.1, compared with an expected 49.9 and the previous value of 50. Consumer confidence is relatively stable and remains near record lows, said Joanne Hsu, director of consumer surveys at the University of Michigan.

Technical：

Dow: In terms of U.S. stocks, the three major stock indexes closed up, the Dow rose more than 655 points, the Nasdaq rose 1.79%, the U.S. retail sales data in June was better than expected, traders reduced their bets on the Fed to raise interest rates, and many bank stocks Soaring, Citi rose more than 13%, State Street rose 8%, Bank of America rose 6.8%. The support position of the Dow is valid, the bulls continue, and the top is concerned about the position near the support pressure position of 31900.

U.S. dollar: The U.S. dollar index fluctuated downward, held the 108 mark in a thrilling manner, and finally closed down 0.598% at 108.01; the 10-year U.S. bond yield fluctuated within a narrow range and finally closed at 2.928%. The top of the dollar fell, and the bulls were cautious, focusing on the target position of 106.5 below.

Gold: Last Friday, spot gold fluctuated widely, fluctuated violently during the session, and even fell below the US$1,700 mark several times, and finally successfully recovered the mark, closing down 0.16% at US$1,706.78/oz; spot silver was once before the European market. It dropped to $18.17, then rebounded all the way, and finally closed up 1.66% at $18.69 per ounce. Gold fluctuated at a low level, chasing the empty cautiously, and paying attention to the target position of 1745 above.

Crude oil:In terms of crude oil, the two oil prices fluctuated upward. WTI crude oil tried to break through US$99, but failed, and finally closed up 0.88% at US$97.41/barrel; Brent crude oil closed up 1.35% at US$102.44/barrel. Crude oil fluctuated, and the top was concerned about the target position near 103.

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