Weekly

May 20th

Today's volatility range:

Since Russia invaded Ukraine by force, the war has amplified inflation. Investors are worried that the Fed's interest rate hike to fight against high inflation will further plunge the US economy into recession, plus the US

And the data of labor and manufacturing industry are dragging at the same time, and the gloom of economic recession is lingering, which increases the attractiveness of gold. The gold price is trying to reverse the decline in the past four weeks, and it will be confirmed to stabilize at $1,850. Today's suggestion

Volatility of $1,830 to $1,853.

The Census and Statistics Department announced yesterday that the seasonally adjusted unemployment rate for the last three months reached a new high of 5.4% this year, and the underemployment rate also rose to 3.8%. Both labor figures were higher than market expectations.

The Secretary for Labour and Welfare, Law Chi-kwong, said that with the decline of the epidemic situation in The 5th Wave, a new round of coupon scheme and various government relief measures, he expected the labor market to improve in the next few months.

Although Secretary Luo is optimistic about the outlook, some experts have made the opposite estimation. As the number of COVID-19 infection groups in Hong Kong has gradually increased in recent days, the gradual relaxation of social distance measures may lead to the sixth wave of epidemic.

Hong Kong's economy will only stagnate if the government does not change the current government's epidemic prevention policy. However, Hong Kong has just completed the next Chief Executive election, and it is estimated that the labor data of Hong Kong will still be difficult to improve before the end of the third quarter. the Hong Kong stock

Yesterday's performance also dragged on, with more than 700 points inserted at most. The Hang Seng Index closed at 20,120, down 523 points or 2.5%, but the 20,000-point mark was finally saved.

Since Russia invaded Ukraine by force, the war has amplified the inflation in Europe, because these two countries were originally the two largest countries supplying natural fuel and food. Yesterday, British data showed that

As food and energy prices soared, the inflation rate in April rose to 9%, the highest in 40 years. Investors are worried about the negative impact of inflation on corporate profits. The three major European stock markets all fell, and the German DAX index fell by 0.91.

%； Paris CAC index fell by 1.26%; Britain's FTSE 100 index fell by 1.82%. As poor as the performance of local labor data, last night, the weekly sample of new applicants announced by the United States reached a new high this year, reaching 21.8.

10,000 people, higher than the market estimate of 200,000 people.

In addition, the Philadelphia Federal Reserve Manufacturing Index was released yesterday, with a figure of only 2.6 points, far below the market expectation of 16 points. The stock market responded to the poor figures, and the Dow Jones index, which represents the traditional economy, opened lower.

After 27 o'clock, it repeatedly fell to 473 points, and the closing decline narrowed to 36 points or 0.75%; . The S&P 500 index fell 0.58%; The Nasdaq Composite Index fell 0.26%. American labor and manufacturing data are dragging at the same time.

The lingering gloom of economic recession, coupled with investors' worries that the Federal Reserve will raise interest rates to fight off high inflation, will further plunge the US economy into recession. Yesterday, the exchange rate of the US dollar and the yield of one-year treasury bonds fell, together with European and American stocks.

Falling, gold has become a haven for safe-haven funds. The lowest price of gold is $1,810.9, and the highest price is $1,849.2, closing at $1,842.2, up by $25.8.

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