Weekly

On February 2nd

Today's range

As expected, the Fed, subject to recent poor economic data, announced a 25-point rate hike this morning in order to avoid a hard landing by pushing too hard. After the meeting, Powell softened his words and said after the meeting that there would be a pause in rate hikes this year, which immediately set off a shock in the market. Gold hit $1,950 and edged closer to the $2,000 mark. Today's recommended range is $1,948 to $1,960.

Us stocks surged 1% in the evening, while Hong Kong stocks followed the trend to open 78 points higher. The mainland manufacturing purchasing managers' index missed expectations, and Hong Kong's income contracted again last quarter, which was also lower than the government's expectations. The market turned downward, down by as much as 180 points, but the low now supported, and the Hang Seng index returned to the 22,000 level. The Hang Seng Index rose 229 points or 1.05% to 22,072.

On the eve of the Fed's interest rate hike, investors focused on the outcome of the meeting, and Fed Chairman Powell's comments after the meeting, the market attitude became very cautious. The three major European stock indexes finally developed respectively, Germany's DAX index rose 0.34%; France's CAC index in Paris was down 0.07%, while Britain's FTSE 100 was down 0.12%.

The US yesterday released January non-farm payroll change significantly below market expectations, the latest number of 104,000, from December 256,000 down 60%, also below market expectations of 178,000, the economic environment has turned the New York stock market lower; Stock markets turned after the announcement of the Fed's decision, Fed Chairman Colin Powell announced after the meeting that the administration will raise interest rates two or three more times this year will pause the action, Wall Street's three major indexes reversed the bottom, the Dow Jones Industrial average up 0.02 percent, the S&P 500 up 1.05 percent, Nasdaq Composite index up 2.16 percent.

The Federal Reserve announced an interest rate hike this morning, as expected by the market, the board is subject to the recent poor economic data, in order to avoid too hard, the decision officials decided to raise rates by 25 points, then Powell announced after the meeting that this year will temporarily end the hike tour, the market immediately set off, gold as high as $1954.6, gold as low as $1920.6. It closed at $1,950.1, up $21.9.
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