Weekly

April 22nd

Today's volatility range:

Federal Reserve Chairman Powell said that the United States may not be able to return to the economic model before the virus pandemic, saying that the Russian invasion of Ukraine led to more problems of economic division. Obviously, the efficiency of globalization

Has slowed down, which means higher inflation and lower productivity. Bowie said that a 50-point interest rate increase will be discussed at the meeting in May, and that many people in the Fed believe that one or more interest rate increases will be 0.5%.

Is appropriate. It is expected that the Fed's interest rate curve will be steeper in the market, putting pressure on the gold price, and the gold price lacks direction. The positive and negative tests are supported by $1,952. The suggested volatility today is $1,940 to $1,958.

Affected by the COVID-19 epidemic, the unemployment rate in Hong Kong has risen again. The Census and Statistics Department announced yesterday that the unemployment rate in Hong Kong rose to 5% in the first quarter of this year, up 50 points from 4.5% in the fourth quarter of last year, while the underemployment rate dropped from 2.3%.

Rose to 3.1%. Luo Zhiguang, secretary of the Labor and Welfare Bureau, said that the labor market will continue to be under pressure in the short term. Apart from the unemployment problem faced by the local workforce, even the employees of the mainland's favored online giants are facing the same problem;

Alibaba's R&D unit, Dharma Institute, reported that it would lay off 30% of its global workforce, and the mainland social platform Xiaohongshu also reported that it would lay off 20% of its workforce, although Xiaohongshu clarified that it was only a normal staff replacement.

The company only eliminated unqualified staff, and only cut 10% of its staff, instead of 20% as reported by the media, and emphasized that the business development of the organization was generally stable. The mainland economy has obviously weakened, the renminbi has weakened, and Hong Kong stocks have also been significantly affected

Hong Kong stocks opened 163 points lower, and finally closed at 20682 points, down 262 points or 1.25%.

Lagarde, president of the European Central Bank, said yesterday that the European Central Bank needs to wait for the data to determine its next action, saying that instead of giving a forecast of raising interest rates on a certain day here, it is better to wait until the data are available before making a decision. She added,

The meeting of the European Central Bank in June will decide the timing of the next action based on the new data, reiterating that the speed of the euro zone economy is different from that of the United States, and the policy of the European Central Bank is more about normalization than austerity. Lagarde's remarks make Europe

The European stock market loosened again, the three major European stock markets rose across the board, and the German DAX index fell by 1.07%; Paris CAC index rose by 1.49%; Britain's FTSE 100 index rose 0.09%. Another heavyweight central bank governor also spoke yesterday,

Federal Reserve Chairman Powell said that the United States may not be able to return to the economic model before the virus pandemic. The Russian invasion of Ukraine led to more economic problems. Obviously, the efficiency of globalization has slowed down, even

There may be retrogression, and the lower efficiency of globalization means higher inflation and lower productivity.

Regarding the Fed's interest rate hike, Bowie said that a 50-point rate hike will be discussed at the meeting in May, and it is appropriate to speed up the action. He also said that many people in the Fed believe that one or more rate hikes of 50 basis points are appropriate. Meilian

Another official, Brad, said that he supported the interest rate increase of 0.75%! Yesterday, U.S. companies made good profits, which stimulated U.S. stocks to go higher. However, the market's concern about the Fed's interest rate hike offset the market's optimism. After Powell's speech,

It is expected that the interest rate curve of interest rate increase in the United States will be steeper this year. Under the pressure of rising interest rate, the three major stock markets on Wall Street will fall, and the Dow Jones index will fall by 1.05%. The S&P 500 index fell by 1.44%; Nasdaq index fell 2.07.

%。 Yesterday, the gold market fell when it opened. Although the bearing capacity of $1,950 was repeatedly tested in the middle, the opening price of $1,957.5 was a full-day high. Many Fed officials thought it appropriate to raise interest rates by 0.5% one or more times. Market expectations

The Fed's interest rate curve will be steeper, putting pressure on the gold price. The lowest price of gold is $1,936.8, and finally it closed at $1,951.6, down $5.9.

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