Weekly

Today's amplitude range

Rising global inflation dragged down the violent selling of technology stocks, coupled with unsatisfactory corporate financial reports and a sharp drop in oil prices. The market preference at the beginning of the week subsided again yesterday. Gold follows the dollar alone.

Rise in order. Whether gold will become a safe haven for this wave of stock market decline depends on whether it can stabilize and walk above 1800. The short-term support level is 1808/1778 and the resistance level is 1835/1860. Operation construction

Discuss, give priority to with the goods, near the market position of 1812, below 1808 to surrender.

Powell said that the Federal Reserve will raise interest rates until there is "clear and convincing" evidence that inflation is receding. This tough remark led the market to be wary of the pace and magnitude of interest rate hike.

This is a strong reminder to the market that the Federal Reserve will raise interest rates, probably very quickly, to restore their credibility in inflation. Powell promised that the Federal Reserve would rise when necessary.

Interest rates, including raising interest rates above neutral to curb soaring inflation. He said that soaring inflation will threaten the economic foundation, and neutral interest rate is the level at which economic activities are neither simulated nor restricted. hawks

However, this morning's market sentiment looks more fragile than yesterday's, and the Fed's tough stance is the main cause of panic in the market.

British CPI reached a record high, rising sharply to 9% in April compared with the same period of last year. The Minister of Finance, Sonnak, said that he would provide strong support and take further actions to fight inflation at any time. The deterioration of inflation may lead to

Accelerate the pace of interest rate increase in the UK. At present, the benchmark interest rate has been raised four times in a row, from the historical low of 0.1% to 1%. The market is expected to add another 0.25 to 1.25% next month. After the benchmark interest rate was raised to a 13-year high

At the same time, the Bank of England issued a pessimistic forecast for the future, warning that Britain might face double-digit inflation, long-term economic stagnation and even economic recession. The Russian crisis has intensified the price of energy and food.

In April, the consumer price index (CPI) of the UK rose by 9% year on year, a record high.

The Bank of England warned that due to the upper limit of energy prices in the UK, it will increase by about 40% later, and the price increase rate will further accelerate. It is expected that the inflation rate will exceed 10% in October. Actual disposable income of the family

It may drop by 1.75% this year, the second largest decline since 1964. Although the Bank of England maintains its forecast of economic growth of 3.75% this year, it is expected that economic output will decline by nearly 1% in the last quarter of this year, and GDP is expected next year.

Shrink by 0.25%. The central bank expects that economic growth will continue to stagnate in 2024, with a growth rate of only 0.25%. This will bring difficulties to British people, especially low-income people, which is reflected in curbing inflation and avoiding recession.

Between the difficulty. The Dow Jones index has fallen for seven consecutive weeks, and the stock market has stabilized in the past three trading days, but Powell's eagle sound "pulled across" the whole market yesterday. Dow Jones Industrial Average futures fell 1164.

Points, down 3.57%. Standard & Poor's 500 index futures fell 4.04%, while Nasdaq 100 index futures fell 4.73%. Yesterday, the lowest price of gold was 1807.2, the highest price was 1824.5 USD, and the last price was 1816.3 USD.

Close, up $1.4 or 0.08%.

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