Weekly

The long-rumored news of Cathay Pacific layoffs in Hong Kong was finally confirmed yesterday. A total of 8.5 thousand people were laid off in the world, while Hong Kong accounted for 62% of the number of president reductions, close to 5.3 thousand people.

Staff who can stay in office are also required to accept the pay reduction arrangement. An industry, which once attracted many Hong Kong university graduates, has now degenerated into the largest single-company layoffs in Hong Kong history.

It's unfortunate! However, the cause is that COVID-19 pneumonia broke out all over the world, and the epidemic prevention and isolation measures in various countries have greatly hit the aviation industry. Take Hong Kong as an example, the average daily flight times in the worst time are less than 10% before the epidemic!

However, it seems that the epidemic can't be suppressed, and it has become more serious in Europe. In just two weeks, the number of newly infected people has doubled, with more than 1 million cases in COVID-19, Spain, becoming the country with the most cases in Europe.

In France, more than 900,000 people have been infected, and many European countries have to implement stricter and longer-term epidemic prevention measures. The only consolation is that the market spread that before the end of this year,

Two COVID-19 vaccines will be approved for marketing by the US Food and Drug Administration.

There seems to be a turning point in the issue of Brexit. British Prime Minister Johnson said that he has agreed to continue to discuss with the EU, but does not guarantee the success of the negotiations. It is reported that the representatives of the UK and the EU will discuss controversial issues in a close manner in the future.

I hope to reach a consensus within three weeks. The news caused the pound to soar by 1.6% against the US dollar, while the euro also rose by about 1% against the US dollar. The major European stock markets developed individually, and the German DAX index fell by 1.4%; French CAC index fell 1.5%;

The FTSE 100 Index fell about 2%. In the United States, the new round of fiscal stimulus package also sent good news. US House Speaker Pelosi continued to discuss with US Treasury Secretary Mnuchin, pointing out that differences are narrowing.

Will continue the discussion tomorrow. With the progress of the market closure plan, the new york stock market repeatedly fell, and the Dow Jones index fell by 0.35%; The Standard & Poor's 500 Index fell 0.22%; Nasdaq index fell 0.28%.

The new round of US fiscal stimulus plan is expected to be passed, coupled with the strong trend of British pound and Euro, and the pressure on the US dollar, the US dollar index fell below 93 points, and the lowest fell to the low of 92.47 points in two months, closing at 92.64 points.

The price of gold rose repeatedly yesterday. Affected by the weakening of the US dollar index and the unstable political situation in the US presidential election, the price of gold began to exert its strength from the opening price of 1907 US dollars per ounce, reaching a maximum of 1914 US dollars per ounce.

The highest price was $1931 per ounce, and finally closed at $1924 per ounce, up $17. If it stabilizes at $1,920 in the short term, it is still expected to challenge yesterday's high, otherwise, it will break through and be consolidated from the recycling triangle.

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