[Fundamentals]
1. Spot: Qingdao Free Trade Zone, on the spot market, Thai, Malay adhesive RMB quoted in 22600-22700 yuan / ton. Thailand, Malay 20 # adhesive Price 3090-3110 U.S. dollars / ton, Thailand 3 # smoke piece spot reference price in the 3270-3300 U.S. dollars / ton, Thailand 20 # standard plastic Reference Price in the 3090-3110 U.S. dollars / ton, Indonesia 20 # standard rubber spot price in the 3040-3060 U.S. dollars / ton.
Comments: futures fell sharply and did not give the spot market panic mentality, offer only slightly lower.
2. January preview value of HSBC manufacturing purchasing managers’ index (PMI) rose to 51.9, the highest the highest bit of the 24 months, for the fifth consecutive month, picked up on month-end value of 51.5.
Reviews: continuous rebound of the PMI values show that China’s manufacturing sector is recovering process.
3. The U.S. House of Representatives 23 vote by the short-term increase in the public debt ceiling motion, allowing the U.S. Treasury to continue issuing treasury bonds in order to maintain the federal government operating until May 19. This means that the United States federal government closed risk waiver, “Uncle Sam” is again a delay of debt issues. Increase the public debt limit, equivalent to the U.S. Congress as “credit card” of the Ministry of Finance set up a need from time to time for approval credits “spring door. Since 1960, the U.S. federal government’s public debt ceiling has been increased by about 80 times, but this practice in recent years become a Republican bargaining chips to force the Democratic Party to accept substantial cuts in government spending.
Comments: from a positive point of view, the Republican Party of the active concessions to avoid investors nervous again challenge to the limit.
Market commentary
At yesterday, Hujiao (25700, -30.00, -0.12%) in early trading opened at 26050, the short-term shocks hit a high point of 26,090, has fallen sharply, and continue to test a low, midday hit a low of 25,050 late in a small amount of recovered to close at 25640 days to lighten up 4426 hand to 126,072 hands.
[Operating strategy]
Middle market: yesterday’s downward adjustment of the upward trend line is not a breakthrough, if broken trend line today, midline bullish ideas need to be cautious.
Short-term market: the recent Hujiao adjustment mainly to the daily level fell sharply, the market for the market outlook is more optimistic, but shock consolidation is inevitable, concerned about the rising trend line support, if the effective break down, there is still downward space.
The period now arbitrage: Hujiao, fell sharply so that the price difference between fast convergence with Thailand, currently 3505, of Hujiao and smoked rubber spread is -14 rolling operation can be considered profit positions, waiting for the spread widened Jiancang.
Intertemporal arbitrage: Yesterday spread is 115, the recent to maintain consolidation, No opportunities.
Translated by Google Translator from http://news.cria.org.cn/4/12666.html
