Weekly

Yesterday, under pressure from Britain, two major banking groups, Standard Chartered Bank and HSBC, stopped paying dividends. This was not conducive to the atmosphere of the big market, and the US labor market began to reflect the impact of the epidemic.

The US dollar continued to play its role as a capital refuge. Non-US currencies generally fell back. Oil prices and gold prices also fell to new lows in the week.  U.S. Announces ADP Employment in March.

The data recorded-27,000, the lowest level since January 2010, but better than the expected-150,000, with the previous value dropping from 183,000 to 179,000.

It is worth noting that this information may not fully reflect the current employment situation in the United States under the impact of the epidemic.  ADP Employment Data said the data used in the March report ended on March 12.

It does not reflect the overall impact of the epidemic on the overall employment situation, including the unemployment application announced on March 26, 2020.

In other words, the non-agricultural employment data to be released on Friday may encounter the same problem.  And considering the weakness of the job market has been talked about many times in this period of time,

Some market expectations have been digested, and the market may not be able to meet the long-awaited big market on Friday.

However, unlike the above two reports, the performance of the two job market data to be released tonight is likely to be much worse than ADP's employment data, and investors need to be psychologically prepared.

Including the number of challenger enterprise layoffs in March and the number of first-time claims for unemployment assistance in a week, the market currently expects the figure to reach 3.5 million, up from 3.283 million last week.

Gold prices fluctuated up and down yesterday, starting consolidation in the new trading range as scheduled.  Technically, the negative line in the daily chart retreated to a lower level and fell below the 6,000 mark after finishing.  The trading range moves down,

The 1600 barrier supports variable resistance and further withdrawal is needed.  After finishing for 4 hours, it fell through Buliga Road and passed through the lower rail. The lower rail opened its mouth downward, breaking the interval finishing, and the short line turned empty.

In terms of hourly rate, gold fluctuated widely and fell back around 1595 when it surged at midnight in the U.S. market. Although the rebound space was slightly larger, the final closing price was still around 1590.

In the medium and long term, due to the risk of recession in the recent economic situation, gold is naturally highly sought after as a safe-haven currency, and its long-term rise will remain unchanged, but the gold price in the market will fall back due to the rise of the US dollar.

High prices can be short-term, and the end of the weekly chart rise must be accompanied by a greater level of adjustment. Gold is the market that has failed to stabilize above 1600 effectively. The upper short-term focus is on resistance near 1603.

The following short-term focus is on 1573 support, which can be operated in this interval first.