Weekly

Last week, the three major central banks discussed interest rates, which was a global economic super week. The Bank of England and the Bank of Japan held their interest rates unchanged for the time being. However, the Federal Reserve, which was the most concerned in the world, announced that it would cut interest rates by half a percentage point after discussing interest rates, which was the first time in more than four years, and the rate cut was within the expected upper limit. In the statement after the meeting, Chairman Powell said that if he knew that the labor market was so weak in July, he would start to cut interest rates ahead of schedule, but he said that he should not expect this pace every time to cut interest rates.

After the interest rate cut was announced, the price of gold rushed to the 2600 mark for the first time, and profit-taking occurred that night, once falling back to the level of 2550. After the profit-taking, the price of gold immediately rose again, reaching a new high on Friday night, reaching a maximum of 2625.73, and stabilizing the market above 2600. Many big banks raised their year-end target prices one after another. Most traders on Wall Street accepted the arrival of the golden bull market, and the market sentiment was very optimistic.

In terms of the US dollar, since Britain and Japan have not cut interest rates, and the United States has cut interest rates again, it will have a certain impact on the US dollar index. Although it narrowly guarded the 100 mark last week, I believe there is still downward pressure. Looking forward to this week, the United States will announce the PCE price index. I believe that inflation has begun to be controlled, and it is expected to fall further. It is expected to continue to support the pace of interest rate cuts by the Federal Reserve. The market situation is a bit bleak. Let's refer to each other.