Weekly

Banier, the chief negotiator of the European Union, arrived in London yesterday to restart the Brexit trade negotiations, and both sides took a positive attitude. The joint statement in the signed memorandum mentioned that,

"Unless agreed by both parties, negotiations will be conducted every day, including weekends. Unless a final comprehensive agreement is reached, nothing agreed in the negotiation process will count. 」

However, Britain knows the way of negotiation and is very playful. First, Prime Minister Johnson said that he was ready to leave the EU without agreement, and set a dead line for negotiations, putting pressure on the euro zone by hard Brexit.

Before the EU representatives returned to the negotiations, the British Department of International Trade took the lead in revealing yesterday that they had reached temporary trade agreements with four non-EU European countries such as Switzerland; In this way,

Britain has more bargaining chips, which is beneficial to Britain.

Major European stock markets developed individually, and the German DAX index fell 0.1%; The French CAC index fell by .05%; Britain introduced new economic aid measures to provide billions of pounds of financial aid to enterprises hit by the epidemic.

Britain's FTSE 100 Index rose about 2%. Foreign exchange investors took profits, with the pound falling by about 1% against the US dollar from a six-week high, while the euro dropped slightly by about 0.4% against the US dollar.

The economic data released by the United States yesterday showed that the local economy continued to improve. The number of people claiming unemployment benefits for the first time in the United States last week was 787,000, which was better than the expected 860,000, and it was the first time since February that it was lower than 800,000.

The number of people who continue to apply for unemployment benefits has also decreased from 9.39 million in the previous statistics to 8.37 million. Improving the employment figures is the most powerful tool to boost the economy and raise various consumption budgets in the future.

Another data is that the sales of finished houses in the United States reached 6.54 million last month, breaking the record of 5.98 million in August again. Housing is a long-term investment, and besides home buyers have full confidence in the future economy,

It also depends on the current low interest rate environment. Economic data makes the dollar stronger.

Gold is sensitive to the trend of the US dollar. Yesterday, due to profit-taking by foreign exchange investors, both the British pound and the US dollar and the euro softened. The ideal US economic data released yesterday also made the US dollar appreciate.

Compared with other non-US dollar currencies, the price of gold is not cheaper. In addition, the Remdesivir of Gilead Pharmaceutical Factory has been approved by the US Food and Drug Administration, officially becoming the world's first drug to treat COVID-19 pneumonia.

Yesterday, the gold price fell below the 1900 level at worst to see $1,895 per ounce. Fortunately, investors hoped that a new round of US fiscal stimulus plan could reach an agreement, which limited the decline of gold price, and finally the gold price fell by $20.

It closed at $1904 per ounce. In the trend, gold is also consolidated from the recycling triangle.

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