Lack Of Money, Lack Of Orders, Shortage Of Cotton And Cotton Will Carry Out Weakness In The End.

Greece's referendum rescue plan in November and the bankruptcy protection of man's financial application were aroused again.

Continued weakness of commodities

The European debt problem is a wave of unrest. Greece has announced a referendum on the latest EU aid plan. The market is worried about whether the rescue plan can be implemented smoothly, resulting in the euro being sell-off, and the US dollar index has risen sharply, putting pressure on the weak commodity market.

In the US, the German style financial holding huge amounts of European debt open for bankruptcy protection further deepened the market's panic over the economic downturn.

As the eurozone debt problem persists and expands, the rescue measures of "breaking up the wall to make up for the west" can hardly eliminate the euro zone debt problem fundamentally.

Therefore, ICE cotton futures under the support of demand buying, there are profit margins and sales to suppress, trapped in the interval oscillation pattern, in the short term it is difficult to drive Zheng cotton together.

Money has not yet been released.

With the effect of inflation prevention and price control gradually emerging, in order to maintain the sustained growth of the national economy, relevant departments after intensive research, tight monetary policy is expected to fine-tuning, which brings some hope to the market.

Under the background of fine-tuning monetary policy, it is estimated that the new loan will be around 7 trillion and 500 billion yuan annually, and the fourth quarter credit policy is expected to remain relatively loose.

However, the domestic price level is still relatively high, and there are many uncertainties in the internal and external macro environment. Monetary policy is difficult to relax in the short term.

In October, China's Manufacturing Purchasing Managers Index (PMI) was 50.4%, down 0.8 percentage points, and the lowest since February 2009, reflecting the possibility that the four quarter economic growth will continue to decline.

The risk of default on Greek debt still exists, such as default, which will have a huge impact on the euro area.

The euro zone is an important trading partner of China. It is difficult to change domestic monetary policy in the short term before the euro zone debt problem has been effectively alleviated.

Lack of money, shortage of orders, no shortage of cotton

At present, the textile industry is in great trouble, not only fluctuating cost risk, but also more

New cotton has been listed and increased production is an indisputable fact, new cotton supply increase not only brings pressure to the textile industry, but also let cotton farmers break the heart.

In the face of increasing cotton prices and increasing cotton prices, cotton farmers did not actively sell new cotton.

With the large number of imported cotton coming to Hong Kong to occupy the domestic cotton market at the end of the year, the willingness of textile enterprises and traders to replenishment will be weak. The situation that domestic cotton is facing oversupply is a foregone conclusion. In the background of lack of money and lack of orders, cotton industry will not be able to effectively digest new and old cotton in the short term.

It can be seen that in view of the strong support of the national reserve and storage price on cotton prices, Zheng cotton can oscillate around the 20000 pass.

However, the external debt crisis has not been effectively resolved, and the impact and drag on the commodity market persists. The domestic monetary policy can only be carefully adjusted.

The Fed's latest interest rate results remain unchanged, eliminating market expectations for QE3 again.

Under the constant pressure of internal and external fundamentals, it is a fact that Zheng cotton's fundamentals are empty. Only the macro environment is good enough to drive cotton prices up, otherwise the weakness pattern of Zheng cotton will remain unchanged.