Weekly

Continuing Trump's good news, the European and American stock markets were full of scenery yesterday. Trump confirmed in his media interview yesterday that he was willing to sign a $1,200 national stimulus check to the public.

He also supported the airlines and the new relief plan for small businesses, saying that the negotiations were progressing well and he was confident that an agreement would be reached. On the other hand, Pelosi, the Speaker of the House of Representatives and a Democratic Party member, threw cold water on it.

Reiterate that there is only a new round of fiscal stimulus package as a whole, and will not support any part of the aid package. However, Federal Reserve Chairman Powell warned earlier that the US economy has not fully recovered, and called on the government to provide more help to enterprises and families.

The market interprets the new aid program as a political bargaining chip, and will eventually reach an agreement.

Back to the Brexit negotiations, both sides said they intended to resolve their differences. However, because both sides have to protect their own interests, there is still no progress. British Prime Minister Johnson said that if the problems between the two sides cannot be resolved before October 15,

Britain will leave the EU without agreement; However, the Bank of England is willing to provide assistance for bank liquidity and avoid the capital gap when leaving the EU, indicating that it is necessary to study open-end funds, including money market funds. After leaving the European Union,

Britain will also need to maintain at least the same level of quantitative easing as at present, and the central bank will also need to respond to market needs and make its policies more flexible. Words put pressure on the European market, and the pound fell back.

When investors are focused on the news of the new round of fiscal stimulus plan in the United States, there is another good news; When US President Trump was admitted to Walter Reed National Military Medical Center for treatment of COVID-19 pneumonia,

The pharmaceutical company that provides an antibody cocktail therapy that is still in the experimental stage: Regeneration Yuan announced yesterday that it has applied to the US Food and Drug Administration for emergency use authorization for its antibody therapy in SARS-CoV-2.

It is reported that Trump promised earlier that if he applied for emergency authorization, the government would provide the American people with the initial dose free of charge and be responsible for the distribution. New york stock market was supported at the beginning.

Yesterday, the price of gold tried to challenge the 1900 level, but at around 22:00 Hong Kong time, the price of gold suddenly retreated by US$ 10. Some people think that the number of people who applied for unemployment benefits for the first time in the United States came out last week. Although the number of 840,000 was less than the last published record,

But it was worse than expected. However, the real reason should also be related to vaccines, which is related to the statement made by US Health Secretary Azar at that time that emergency use authorization is appropriate only when sufficient doses of vaccines have been produced.

It is predicted that by the first quarter of next year, every American in need will get enough dose of COVID-19 vaccine. His speech seemed to imply that the application for approval of "renewable yuan" was a mass production issue, not a safety issue.

Investors immediately sold gold with strong safe-haven ability, which caused the price of gold to drop sharply during that period. Finally, it closed at $1,893 per ounce, up $5.

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