Weekly

December 27th

Today's range

The dollar index took a hit last week when the Bank of Japan surprised currency markets by allowing it to raise its yield target, Governor Kuroda said

Haruhiko has vowed not to withdraw from ultra-loose monetary policy, predicting that the Bank of Japan will move again at 130 to the dollar, already the limit of its tolerance

Hand intervention. Strong U.S. economic data and lingering fears of continued Fed rate hikes have kept the dollar index above 104. U.S. housing capital

The potential cooling of the wealth effect from rising output is positive for gold. Finally, is China showing that it will do whatever it takes to lay down and live with the virus

Policy, supply chain shortage problem will be solved earlier, which is also favorable to the gold market upside. Gold remains stuck in the $1,780 - $1,820 zone for the time being

The same will be true before the end of the current year. Today's recommended range is $1794 to $1812.

Hong Kong stocks followed U.S. stocks lower on the lack of good news after China left its December lending rates unchanged last Monday, disappointing expectations of a rate cut.

With the Hang Seng still struggling between its 10-day and 20-day averages last week due to holiday sentiment, Chief Executive Li Jiachao's briefing in Beijing on Thursday raised hopes of a turnaround for the mainland

The Hang Seng Index rose 142 points, or 0.73 percent, to 19,593 last week after Hong Kong sent New Year greetings and eased customs clearance restrictions with the mainland. Inland affairs

The government also understands Western etiquette and announced to the world on the day of opening gifts that it has downgraded the novel coronavirus to Class B and will completely lift restrictions on the epidemic on January 8 next year.

Hong Kong stocks are expected to rise today.

 
Europe's energy crisis eased last week when EU countries agreed to cap wholesale gas prices, while Germany's latest IFO business climate index was released

Improved to 88.6 from 86.4 in November, better than expected, and European consumer confidence improved from a month earlier

All three major European indexes posted gains last session, with Germany's DAX up 0.34 percent; France's CAC index in Paris rose 0.81 percent and Britain's FTSE 100

That's 1.92% higher. Last week, U.S. chip stocks reported their latest earnings, and several investment bank reports downplayed the economic outlook for next year, coupled with U.S. economic data

Strong, particularly in the compensation data, which beat market expectations, buoyed consumer sentiment and the specter of a Fed rate hike

Leading technology stocks fell more than 2 percent on Thursday, leading to a mixed week on Wall Street, with the Dow up 0.86 percent. standard

The S&P 500 was down 0.02%; The Nasdaq composite index fell 2.18%.

Last week, the boj unexpectedly raised its ceiling target for government bond yields to 0.5% from 0.25%, a surprise move that defied years of easy policy.

The move sparked speculation about the Bank of Japan's exit from its curve control policy and sent the yen sharply higher, dragging the dollar index down to 103.7 and gold at its highest

Us $1,820.5, followed by the release of stronger US economic data, including GDP growth on a quarterly basis of 3.2%, about 10% higher than market expectations, and nuclear

The index also came in above market expectations, and while new claims for jobless benefits rose last week, they were still below market expectations amid renewed concerns about the Federal Reserve's rate hike

In action, the dollar index rose to the 104-point level and gold retreated from last week's low of $1783.9. Gold closed Friday at $1798.4, up on a one-week basis

It's $5.30.

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