Weekly

Global new viruses continue to wreak havoc. In the past week, the cumulative number of infected people in novel coronavirus exceeded 18,200, and the number of confirmed deaths increased to over 692,000.

The United States continues to be the country with the most infections in the world with 4.8 million cumulative infections. Members of the White House Anti-epidemic Team even described the local epidemic situation in the United States as getting out of control.

After the successful launch of novel coronavirus vaccine in Britain and America, it is said that Russia has also developed a vaccine and wants to launch it as early as August. The tearing between China and the United States has become a turning point, until one side obeys.

In addition to uniting with the five-eyed alliance countries to monitor China's every move, the United States and China have not budged in military affairs. Last week,

First, the Chinese People's Liberation Army announced that it would start live-fire exercises in the waters west of Leizhou Peninsula for two weeks. Australia, one of the five-eyed alliance countries, opposed China's claim of sovereignty over the South China Sea by means of nine-dash line, and sent an aircraft carrier to cruise in the South China Sea.

Recently, the United States also wooed Japan as the sixth eye, and reiterated that the Diaoyutai Islands belong to Japanese waters. After Huawei, more countries began to join the ranks of blocking the overseas version of TikTok, a Chinese social media.

TikTok's parent company "Beijing ByteDance" originally intended to sell TikTok's business in the United States to Microsoft, but it was said that Microsoft had shelved the acquisition because US President Trump threatened to remove TikTok from the United States as soon as possible this Saturday.

Last week, the Federal Reserve announced the results of interest rate decision, and decided that the target range of the federal funds rate should be maintained at 0-0.25%, which was in line with market expectations. The Federal Reserve pointed out that novel coronavirus caused disasters in the United States and around the world,

The Federal Reserve promised to take all tools to support the American economy until it can recover from the blow of novel coronavirus. The Federal Reserve reiterated that the speed of economic recovery in the United States depends on disease control.

In addition to the resources available to the Federal Reserve Board, it still depends on the health policy of the federal government. Last Friday, the United States announced the second quarter GDP, which was terrible, with a sharp decrease of 32.9% compared with the previous quarter, which was the worst quarterly performance in history.

However, the number of initial jobless claims is still high, with the latest figure of 1.43 million, indicating that the US labor market is weak. The market expects the Federal Reserve to maintain low interest rates and quantitative easing policies, and the poor performance of US economic data.

The US dollar index continued to be weak last week, with the worst drop to 92.5 points and closing at 93.5. Due to abundant market funds, weak US dollar and tense geographical situation, the price of gold broke the record high twice last week.

They are $1981.4 per ounce on Tuesday and $1983.1 per ounce on Friday. Gold price has been rising for eight consecutive weeks, and it is expected to peak again.

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