Weekly

When attending the annual meeting of the International Monetary Fund, European Central Bank President Lagarde said that he noticed that many countries in Europe have recently adopted new epidemic prevention measures to control the rebound of COVID-19 epidemic in various countries.

This offset some of the European Central Bank's stimulus plan that had previously passed the emergency asset purchase plan of 1.35 trillion euros to support the rescue measures of member governments.

We call on all governments to continue to provide financial support to help the economy recover from the new epidemic, warn against withdrawing the relief measures too early, and hope that all governments can understand that even if the economic recovery continues,

The relief measures must also be maintained for some time. Finally, Lagarde said that the central bank will continue to provide support. The market expects that the European Central Bank may increase its emergency asset purchase program.

Major stock markets in the euro zone benefited from the above news and performed well, with German and French stock markets both rising by about 0.7%. The London stock market fell, and British Prime Minister Johnson announced a new round of restrictions to deal with the spread of the epidemic.

In addition, the deadline for the negotiation of the trade agreement between the UK and the EU expired on Thursday, and investors' attention to the results of the negotiations made the investment atmosphere cautious, dragging down the FTSE index by 0.25%.

The market hopes that the United States will reach an agreement on a new round of fiscal stimulus plan, and looks forward to the improvement of corporate performance in the new quarter. US stocks did well in the early part of Monday, and the Dow Jones index closed at 28,837 points.

Up 250 points or 0.88%; The Standard & Poor's 500 Index reported 3537 points, up 57 points or 1.64%; Nasdaq index performed best, because Apple will hold a press conference and is expected to announce the iPhone 12 sales arrangement.

Apple's share price rose 6% and led other technology stocks to rise. Finally, Nasdaq index closed at 11876 points, up 296 points or 2.56%.

The US dollar index fell, which was affected by the European Central Bank's emergency asset purchase plan, and the Bank of England sent a letter to the banking industry to inquire about the preparations for the implementation of zero interest rate or negative interest rate; The Bank of England announced last month that,

Considering that a negative interest rate policy will be introduced when necessary, this inquiry increased the UK's interest rate reduction intention and constituted the reason for the decline of the British pound. The US dollar index rose from a low of 93.04 to close at 93.15.

Gold prices retreated yesterday after rising by $37 on Friday, closing at $1920 per ounce, down $3. Yesterday, the highest price of gold was $1926 per ounce, and the lowest price was $1919 per ounce, with a volatility of only $7.
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