First, the reasons for the impact of economic data released by the United States on crude oil prices
1. Crude oil is a bulk product, and its price is denominated and settled in US dollars.
2. Good American economic data will attract more funds to the dollar capital market, and then flow out of the crude oil market; On the contrary, if the US economic data is poor, more funds will flow out of the US dollar capital market, and some funds will flow to the crude oil market.
There is no inevitable relationship between the rise and fall of crude oil price and the quality of American economy in a short time. Some unexpected factors will affect the determinants of crude oil prices in a certain period of time. For example, crude oil production decreased, crude oil reserves decreased, countries bought crude oil, and the dollar suddenly became a safe-haven currency. Global funds will flock to the US dollar, causing the price of the US dollar to rise and the price of crude oil to fall, but this does not mean that the US economy will turn around.
4. International oil trade is denominated in US dollars, and the oil market is closely related to foreign exchange market speculation. The exchange rate of the US dollar is closely linked to the price of oil, and the prices of the two are inversely changing. According to the research of the Federal Reserve Bank of the United States, every time the dollar depreciates 10% against the currencies of other oil-consuming countries, the international oil price denominated in dollars will rise by 7.5%. There is a negative correlation between them. The dollar index fell and international oil prices rose.
5. American economic data directly affected the trend of the US dollar index and the expectation of the Federal Reserve's monetary policy. First of all, crude oil is denominated in dollars, so the stronger the dollar, the lower the price of crude oil. There is an inverse relationship between crude oil and US stocks. As a non-renewable energy source, crude oil is the driving force and foundation of world economic development, and there is no other effective energy source to replace it at present. The price of crude oil is inversely proportional to American economic data to some extent.
Second, the economic data that affects the price of crude oil.
1. GDP
Generally, the higher the GDP, the better the economic development, the higher the interest rate, the stronger the exchange rate and the weaker the crude oil price. Investors should compare the data of last quarter and the same period of last year to examine the results of GDP in this quarter. An increase in the growth rate or higher than expected can be regarded as positive.
2. Industrial production index
The rising index means that the economy is improving, interest rates may be raised, and it should be biased towards the US dollar, which is bad for crude oil; The opposite is good.
3. Purchasing Managers Index
Purchasing managers' index is expressed as a percentage, and 50% is often used as the dividing point of economic strength: now when the index is higher than 50%, it is interpreted as a signal of economic expansion. Be bullish on the dollar and bearish on crude oil. When the index is below 50%, especially very close to 40%, there is the worry of economic depression. It is generally expected that the Federal Reserve may cut interest rates to stimulate the economy. Bad dollar, bullish crude oil.
4. Durable goods orders
If the data increases, it shows that the manufacturing situation has improved, which is beneficial to the US dollar and unfavorable to crude oil. On the other hand, if it is reduced, it means that the manufacturing industry is shrinking, which is not good for the US dollar and is good for crude oil.
5. Employment report
Since the publication time is at the beginning of the month, it is generally used as the keynote of the economic indicators of the month. American non-agricultural data is the employment data of non-agricultural population in the United States, and it is an important data for estimating industrial production and personal income. The US Department of Labor publishes it once a month, reflecting the trend of the US economy. Good data indicates that the economy is improving, and poor data indicates that the economy is deteriorating. Literally, the unemployment rate of non-agricultural population decreases and the non-agricultural population increases, which means that the economy is improving and interest rates may rise, which is beneficial to the US dollar and unfavorable to crude oil; On the contrary, it is bad for the dollar and good for crude oil.
Third, the cost of frying crude oil.
1, account opening fee
It is also free to open an account with fried crude oil. There is no charge for opening an account. If you need money to open an account with fried crude oil, you should pay attention.
2. Activation fee
Speculation of crude oil needs to activate funds, some platforms need it, and some platforms don't. According to the country's entry threshold for futures and stock index futures, a trading platform with a threshold is a relatively formal platform, because not everyone can bear the risk of crude oil investment, so it is normal to have a threshold appropriately. Don't worry, the threshold is not high, usually 30,000 to 50,000. The activation fund refers to the money you saved, not the money you called. The activated money or your own money. If it's a transfer, you'd better pay attention. All activated money goes into your crude oil trading account. You can get your bank card at any time.
3. Transaction costs
The transaction fee for frying crude oil ranges from eight ten thousandths to six ten thousandths.
4. Overnight fee and extension fee
There is an overnight charge for frying crude oil. As long as it takes one night, the fee will be refunded, but there is no overnight fee, which is generally two ten thousandths.
4. futures account terms for crude oil futures.
1, and the funds in the futures account shall not be less than 200,000 yuan. (If the crude oil futures price is calculated according to the primary price100t, the value is about 450,000, the margin is about 15%, and the primary margin is about 70,000).
2. Companies or individuals who have experience in futures trading and have a certain understanding of futures.
3. It has no bad credit record and has passed the investor's suitability review and evaluation.
Five, crude oil futures account materials:
Individual investors need materials for crude oil futures account: essential materials. Optional materials of account holder's ID card and bank card (CCB).
Go to the futures brokerage company or the command center of the local business department to open an account first.
1. To open an account, a natural person must show his ID card and submit a copy to open an account in a bank designated by a futures brokerage company. In principle, you need to deposit 50,000 yuan (not required by some companies), fill in the account opening information registration form, leave video materials, and sign the futures brokerage contract and all its attachments.
2. To open an account, a legal person must submit:
① A copy of the business license;
(2) A copy of the tax registration certificate;
(3) the name and account number of the bank;
(4) A copy of the ID card of the legal representative;
⑤ A copy of the authorized person's ID card. Fill in the Registration Form of Legal Person Account Opening Information, and the legal representative shall personally sign or authorize the signing of the Futures Brokerage Contract and all its annexes, and affix the official seal of the unit.
3. The client shall designate 1-2 as the fund distributor and 1-2 as the issuer of the trading order in the futures brokerage contract document (the issuer of the order is regarded as the signatory of the settlement document). The designated fund distributor and the person issuing the transaction instruction must personally sign, provide the ID card and its copy, and reserve the seal.
Six, spot crude oil account opening process
1. Spot crude oil must first open an account, then download the software and save money. Finally, the very important link is analysis, including the combination of technology and information. This requires some experience, then make an order and wait for the time to close the position.
2. Required materials and tools: bank card and ID card, bank card, quotation software, firm offer software, telephone number and computer.
3, the specific process: the customer service specialist sent a one-day account opening link; Registration, front and back of ID card, front and back of bank card. After registration, there will be a login password and a fund password. Records, including important contents such as risks. Download firm offer software and quotation software. If you invest more than 50,000 yuan, you can operate.