Weekly

May 13th

Today's volatility range:

Bitcoin is picking up, while the gold market is the opposite; On the other hand, the inflation data of the United States is still strong. Investors bet on the Fed's interest rate hike. The US dollar index once surged to nearly 105 points, and the gold market was under pressure to fall.

The U.S. dollar is in a strong position. In the short term, it is unfavorable to the bulls in the gold market. In terms of the trend of the chart, the gold price has found support above 1800, and I have to fall by 40 dollars more, only at 1760 dollars left and right.

Trust. The suggested volatility today is $1,804 to $1,833.

Yesterday, two Chinese financial officials spoke on the topic that the epidemic affected the domestic economy. Han Wenxiu, deputy director of the Central Financial and Economic Committee Office, said that the epidemic was a roadblock for China's economic development. He said

We must make every effort to prevent and control the epidemic situation, aiming at the normal operation of the economy. Another official, Sheng Laiyun, deputy director of China's National Bureau of Statistics, said that this round of COVID-19 epidemic has indeed brought great impact on China's economy.

The epidemic has a great impact on the production and life in some areas, but with effective prevention and control measures, the impact of the epidemic is expected to gradually weaken, and he expects that the economic activities suppressed by the epidemic will have revenge earlier.

The rebound will become an engine to stimulate the mainland economy.

Although mainland officials are more optimistic about the long-term economy, in reality, distant water can't put out the fire, and the trend of RMB continues to weaken. The offshore RMB exchange rate, which reflects foreign investment in the mainland, has fallen below.

6.78, a record low of over one and a half years. The exchange rate of the Hong Kong dollar hit the weak guarantee level of 7.85. The HKMA had to re-enter the market to defend the exchange rate of the Hong Kong dollar and buy 4.082 billion Hong Kong dollars in the market. Hong Kong stocks opened 260 points lower,

After that, the trend continued to fall with the RMB exchange rate, and the Hang Seng Index finally closed at 19,380, down 444 points or 2.24%. Britain's gross domestic product (GDP) has regressed from the previous month. According to economists' comments, Britain is the second time.

Economic retrogression is due to the same reasons as most European countries, mainly due to the rapid rise of commodity prices, especially international crude oil and natural gas, which leads to the rising cost of living and crisis. In addition, European companies yesterday

The announced results were not satisfactory either. The three major European stock markets fell across the board, and the German DAX index fell by 0.69%; Paris CAC index fell by 1.03%; Britain's FTSE 100 index fell by 1.61%.

Powell, chairman of the US Federal Reserve Board, made pessimistic remarks about the economic prospects. He said that the Federal Reserve Board is trying to control inflation, but it is not an easy task. Although there are challenges, I believe there are still ways for the Board.

Achieve the goal, but at the same time, he expressed a more pessimistic view, saying that there was no guarantee that the US economy could make a soft landing. U.S. stocks opened higher and closed lower, and the three major stock indexes on Wall Street finally saw red, with the Dow Jones index falling 0.33%; . mark

The Standard & Poor's 500 Index fell by 1.754%; The Nasdaq Composite Index fell by 1.63%. On Wednesday, because the stable currency LUNA, which is decentralized, was stepped on when Bitcoin fell, because when LUNA fell,

In order to maintain the stability of LUNA, LUNA's algorithm will sell out its bitcoin and its buyer LUNA, but this behavior will accelerate the decline of bitcoin, which has the largest market among all cryptocurrencies.

And influence, while Bitcoin falls, it will destroy all investors' confidence in cryptocurrency. In this vicious circle, LUNA fell by 99%, and Bitcoin once fell through the $28,000 mark.

However, after that, the largest stable currency in the market, USDT (TEDA currency), made a statement, saying that the hedged assets it held were American bonds, and it was able to meet the redemption requirements of investors, and finally temporarily stabilized the cryptocurrency outbreak.

Due to the negative sentiment of the downturn, Bitcoin picked up yesterday and once regained the level of 30,000 USD. However, after this downturn, the market may be wary of cryptocurrency, and the crisis has not been lifted. Cryptographic currency is generally years.

People accept it lightly, especially Bitcoin. Celebrities such as Musk, the richest man in the world, and the new stock god, Wood Sister of Ark Fund all love Bitcoin, and they see its charm. Cryptocurrency in the market

The emergence of the Internet has virtually increased investors' investment choices in hedging. Bitcoin rebounded yesterday, while the gold market went in the opposite direction. In addition, the producer price index of the United States increased by 11% year-on-year, which was higher than expected.

The U.S. dollar index rose above 104 points to close, and the gold market fell under pressure. The highest price of gold was $1,858.9, and once it was as low as $1,821.5. Finally, it closed at the lowest price of $1,821.9, down by $30.3.

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