Weekly

According to the statistics of Johns Hopkins University in the United States, the cumulative number of people in the world exceeded 10 million, and novel coronavirus was diagnosed and nearly 500,000 people died.  The United States is the most serious, accounting for one quarter of the global cases.

The cumulative number of cases exceeded 2.5 million, and 125,000 people died from novel coronavirus infection.  Last week, there were even more signs of deterioration. Last weekend, more than 40,000 people were newly diagnosed in a single day across the country.

Florida alone had more than 9500 confirmed cases over the weekend.  Several states in the United States tightened social restrictions and suspended the reopening of some economic measures to prevent the epidemic from worsening further.

Last week, the International Monetary Fund (IMF) warned that if novel coronavirus spreads more widely, re-implements the blockade measures, or the trade tension intensifies again, it may increase the risk of the risky asset market.

Because the valuation of some stocks and corporate bonds seems to be too high, it is out of touch with the development of the real economy.  Sino-US relations continue to be tense. The US Senate unanimously passed the Hong Kong Autonomy Act last Thursday.

The bill can sanction people and enterprises that the US considers to harm Hong Kong's autonomy.  The bill allows sanctions against individuals or enterprises, as well as banks doing business with them.  Beijing criticized this as a hegemonic act of the United States and intended to interfere in China's internal affairs.

It is expected that the bill will be passed in the US House of Representatives after the National Security Law of Hong Kong Edition is passed by the Beijing National People's Congress, and then signed into effect by President Trump.

As of last Wednesday, it was obvious that venture capitalists ignored the second wave of COVID-19's illness, and the market was overly optimistic, and continued to push the world stock market upward until the IMF issued a warning last Thursday.

And the new cases of epidemic in the United States increased in a double way and reached a record high, which immediately impacted the financial market. The Dow Jones Industrial Average index fell in the first two trading days of the weekend and continuously fell to a two-week low.

It closed at 25,015 points, while the Nasdaq index fell below 10,000 points to close at 9,757 points.  The number of people infected with novel coronavirus in the world exceeds 10 million, which puts pressure on oil prices;  At the beginning of last week, new york oil reached the highest post-epidemic record of $41.6 per barrel.

It continued to decline, closing at $38.2 per barrel, close to the lowest closing in one week.  However, the US dollar remained strong, and the US dollar index was above 97 points, which once delayed the increase of gold price.

After gold futures hit a seven-and-a-half-year high of $1,779 per ounce on Wednesday, the price of gold fell below $1,750 under pressure because the United States considered imposing tariffs on European goods, which boosted the demand for dollars.

Finally, it returned to the level of 1770 by the news of the epidemic, and closed at 1772 dollars per ounce, which was the third consecutive week of increase.

For detailed analysis and operational suggestions, please CLICK the following link to join the group and check with the administrator
https://t.me/joinchat/OEEaFRx9QcbOZE-aQzNSgg