Weekly

June 1st

Today's amplitude range

US President Biden met with Federal Reserve Chairman Powell, and agreed that the Federal Reserve should fight inflation as its top priority. US Treasury Secretary Yellen later spoke, acknowledging that the growth rate of inflation was underestimated, especially

The high oil price does not rule out the further deterioration of inflation in the United States, and the Federal Reserve is taking necessary measures. The yield of US dollar and US ten-year Treasury bonds rose, which suppressed the price of gold in the past week.

At the toughness of $1840, the gold price becomes more critical at $1832. If it falls below, it may be necessary to try the support of $1800 again. The suggested volatility today is $1,830 to $1,846.

Yesterday, the mainland announced the purchasing managers' index of manufacturing industry in May, with a figure of 49.6 points, which was higher than the expected 48 points. Hong Kong stocks rose for three consecutive days and got rid of the curse of "five poor months". Hong Kong stocks opened lower yesterday

After less than 20 o'clock, it turned up. After that, the mainland announced that the manufacturing data had been made well, which stimulated buying to enter the market actively. The Hang Seng Index finally rose by 291 points or 1.38% to 21,415; For the whole month, it rose by 325 points or 1.54%.

Russian invasion of Ukraine, coupled with China's policy of closing cities in response to the COVID-19 epidemic, led to a sharp rise in global prices. Inflation in the euro zone peaked, and the consumer price index rose by 8.1% year-on-year in May.

The 7.8% rate is high, and the expectation of "early" interest rate increase by the European Central Bank becomes more and more real! Under the pressure of interest rate increase, the German and French stock markets fell by more than 1%, and the German DAX index fell by 1.29%; Paris CAC means

The number fell by 1.43%; Britain's FTSE 100 index rose 0.1%.

The U.S. stock market came back from the holiday and ushered in a fall. Global inflation continues to deteriorate. U.S. Treasury Secretary Janet Yellen said that U.S. inflation may continue to rise, saying that the Federal Reserve is actively taking necessary actions. Investor expectation

The environment of interest rate increase in the United States will be prolonged, and risky assets will be frustrated. The three major stock indexes of new york will drop across the board, and the Dow Jones index will drop by 0.67%. . The S&P 500 index fell 0.53%; The Nasdaq Composite Index fell 0.41%.

US President Biden met with Federal Reserve Chairman Powell, and agreed that the Federal Reserve should take combating inflation and stabilizing prices as its top priority. U.S. Treasury Secretary Yellen later spoke, admitting that he underestimated the growth rate of inflation,

In particular, the high oil price does not rule out the further deterioration of inflation in the United States, and the Federal Reserve is taking necessary measures. Investors are worried that the US interest rate will become steep, and the US dollar and US 10-year Treasury bonds will breed.

The interest rate rose, which hit the fall of gold price. The lowest price of gold was $1,835.2, the highest price was $1,857.2, and finally it closed at $1,837.5, down $17.6.

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