Weekly

May 26th

Today's volatility range:

The price of gold was subject to $1,870, and fell back after two consecutive days of unsuccessful attempts. Yesterday, the US dollar strengthened, foreign capital continued to sell RMB, and the offshore RMB price went low; And the European Central Bank's failure to keep pace with the US interest rate hike,

The US dollar index has returned to the 102 level, and the hawks still agreed to raise interest rates by 0.5% in the next few meetings in order to combat inflation by Fed officials. Although the price of gold fell, it remained above $1,850,

As long as it doesn't fall through the two barriers of $1850 and $1833, the price of gold will still challenge $1870. The suggested volatility today is $1,842 to $1,861.

In order to protect the economy of the mainland, following the announcement last Friday that the interest rate of loans with a maturity of more than 5 years will be lowered, the Ministry of Finance of China issued a document yesterday, requesting the financing guarantee institutions of local governments to relax credit and speed up approval, which is in line with the requirements.

Eligible industries should lend as soon as possible, so that new water can enter the market, and ultimately help SMEs tide over the difficulties and stabilize their jobs. Hong Kong's stock market rebounded with the mainland stock market, with the highest rise of nearly 260 points, but foreign investment followed

The continued selling of RMB and the low price of offshore RMB narrowed the increase of Hong Kong stocks. The Hang Seng Index closed at 20,171 points, up 59 points or 0.29%. Earlier, European Central Bank President Lagarde said that he would be in the first place in advance this year.

The third quarter began to raise interest rates.

As a result of the Russian-Bird War, inflation in Europe has reached a high level in the past 40 years. The market is worried that the European Central Bank will follow the pace of interest rate hike in the United States, which will further weaken the economy and put the European Central Bank in a dilemma. this

Later, Lagarde added that as long as inflation expectations are under control, the central bank will gradually adjust interest rates, implying that it will not raise interest rates by 0.5% at one time. Lagarde's suggestion eased the tension in the market, and it was announced yesterday.

Germany's GDP increased by 4% year-on-year in line with expectations. The three major European stock indexes rebounded across the board, with Germany's DAX index rising by 0.84%. Paris CAC index rose by 0.87%; Britain's FTSE 100 index rose 0.67%. beautiful

The minutes of last month's meeting of the Federal Reserve were made public, and Fed officials agreed that Russia's invasion of Ukraine posed higher risks, especially the challenge of keeping a strong job market while suppressing inflation. Viewed from the bitmap

Many participants thought that it would be more beneficial for the Federal Reserve to cancel the easing policy more quickly, because there would be enough room to study the adjustment where needed later this year;

Most Fed officials support raising interest rates by 50 points in the next few meetings; All Fed officials support the start of the scale reduction program. And the Federal Reserve has also updated its forecast for the inflation rate in 2022, the most

It is predicted that the personal consumption expenditure will reach 4.3% in the new year, but the forecast for 2023 and 2024 will be lowered to 2.5% and 2.1% respectively. Yesterday, the United States made public the minutes of last month's meeting of the Federal Reserve on interest rates, predicting that the growth of personal consumption will be in the next year.

Entering the target range of the Federal Reserve in 2008 may mean that its interest rate increase policy and scale reduction will be effective, and the interest rate increase cycle that started this year may end next year; In addition, most Fed officials support the next

The interest rate was raised by 0.5% at several meetings, which fulfilled the market expectation. The three major stock indexes in new york rose across the board in the early period, and the Dow Jones index rose by 0.6%. . The S&P 500 index rose 0.95%; The Nasdaq Composite Index rose by 1.51%.

The price of gold was subject to $1,870, and fell back after two consecutive days of unsuccessful attempts. Yesterday, the US dollar strengthened, foreign capital continued to sell RMB, and the offshore RMB price went low; And the European Central Bank failed to keep up with the pace of interest rate hike in the United States.

With the number of 102, and the Fed officials fighting inflation, most officials expressed their support for raising interest rates by 0.5% in the next few meetings. Under the expectation of raising interest rates, the pressure on the price of gold increased, and the highest price of gold was $1,868.1.

See the lowest at $1841.6, closing at $1853.2, down by $13.3.

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