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国内外期货市场在第一季度整体走出了一轮先扬后抑的走势,在全球宽松预期、经济数据好转及地缘政治等因素的支撑下,国际大宗商品一月份普遍高走,原油、铜等工业品触及阶段性高点。随着宽松预期的消磨和欧洲危机的一波三折,国内外期货市场在二三月份上涨乏力,震荡幅度加大。但受供需基本面及资金关注程度的不同影响,相关品种的走势开始分化,总体呈现出“农强工弱”的态势。今年以来,美联储是否启动QE3成为市场猜测的焦点,也牵动着大宗商品市场的神经。随着这些宽松预期炒作的
In the first quarter, the domestic and international futures markets as a whole came out with a series of ups and downs followed by the ups and downs. With the easing of global easing, improvement of economic data and geopolitical factors, the international commodities generally went high in January. Crude oil, copper, etc. Industrial products hit stage highs. With easing expected easing and the ups and downs of the European crisis, the domestic and foreign futures markets rose weakly in February and March and their volatility increased. However, influenced by the fundamentals of supply and demand and the degree of concern of funds, the trend of the related varieties began to diverge, showing an overall trend of “strong and weak in agriculture”. This year, whether the Fed started QE3 as the focus of market speculation, but also affects the nerve of the commodity markets. With these easing expectations hype