Weekly

U.S. Secretary of State Pompeo met with Yang Jiechi, a member of the Political Bureau of the CPC Central Committee, in Hawaii and met behind closed doors at a military base in Honolulu to seek to ease tensions between the two countries.

It is expected that the scope of discussions between the two sides will include the handling of the new crown epidemic, trade issues between the two sides, the peaceful development of the Korean Peninsula, and possible mention of China's military actions in the South China Sea.

This is the first meeting between the two countries' top officials since the outbreak of the new pneumonia epidemic.  In the closed-door meeting, it is estimated that the theme will fall on Beijing's approach and rationale for promoting the Hong Kong version of the National Security Law.

In addition, the US side will bargain over the sanctions to be imposed and the possibility of countermeasures will be exchanged.  Yesterday, the EU will soon launch a series of measures to achieve a level playing field with China.

At the same time, it also tries to contain Beijing's trade ambition in the European continent. This is the first time that the European Union has demonstrated its geopolitical power in a rare way after the United States challenged China.  During their meeting in Hawaii,

China has lost another bargaining chip and is temporarily at a disadvantage.  Although the results have not been announced, I hope the two sides can finally make a rational decision to create a win-win situation, benefiting both their own countries and the world.

U.S. Federal Reserve Chairman Powell said at a congressional hearing on the second day that the U.S. economy is beginning to recover from the worst of the novel coronavirus crisis, but at present 25 million people are unemployed in the United States.

In addition, the epidemic situation continues, requiring more assistance from Congress.  If Congress withdraws its support too soon, the situation is worrying.  He mentioned that economic recovery from recession may take some time.

Interest rates may need to remain close to zero for a long period of time, and the Federal Reserve will continue to buy government bonds to lower longer-term borrowing costs.  Crude oil futures prices fell.

The number of confirmed new pneumonia cases in China and the United States has increased, and the U.S. Energy Information Agency announced yesterday that crude oil stocks increased last week and have increased for two consecutive weeks, increasing 1.2 million barrels last week, pushing down oil prices.

New york Oil closed at US$ 37.96 a barrel, down 42 cents, while 1.1 yuan's exchange rate rose but fell against traditional safe-haven currencies.  The number of confirmed cases of new pneumonia in the United States and China has increased significantly.

Triggering the inflow of funds into safe-haven assets.  Gold price trend volatility narrowed again, yesterday's volatility was 1713-1730.  It closed at $1,726 an ounce, up less than $1, repeatedly challenging a high of 1,730 in the gloom.

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