Weekly

The U.S. presidential election was officially held last night at local time. However, due to the COVID-19 epidemic, due to the health and safety of the people, arrangements were made for early voting and mailing of votes.

The number of voters who voted in advance reached a record high, with more than 98 million voters voting. However, due to their similar support and the different arrangements for mailing votes in each state,

Experts generally believe that the election results will not be known immediately after the voting is over. Many experts pointed out that whether Trump is re-elected or Biden is in the White House, it will benefit the US economy in the near future.

The new White House owners will strengthen the strategy of stimulating the US economy. The difference is that the handling methods are different. Trump will continue its low tax rate and even cut taxes again, while Biden will increase a lot of concessions and taxes; What experts are worried about is that they have similar votes.

It will take time to recount the votes, and even the Supreme Court will make a judgment in the end. However, this may lead to dissatisfaction among the defeated voters, resulting in social unrest and internal friction. In fact, shops in many areas have closed early and closed their shops.

More people buy guns to protect themselves, and some districts send more police officers to patrol. It can be seen that once the election situation changes, the United States needs more time or resources to solve the social unrest and division caused by the election, which will eventually lead to internal friction.

Yesterday, the Reserve Bank of Australia announced the result of interest rate decision, and lowered the discount rate to 0.1%, a record low. The Reserve Bank of Australia also announced a 100 billion Australian dollar quantitative easing plan, which made the Australian dollar lower. Seeing the depreciation of cash shortage and the arrival of negative interest rate era,

Investors chase risky assets, and Asian stock markets generally rise by 1-2%. The major European stock markets continued the upward trend in Asia, and the German DAX index rose by 2.6%; French CAC index rose by 2.4%; The FTSE 100 Index also rose 2.3%.

The new york stock market also continued to rise, and the Dow Jones index rose 2.2%; The Standard & Poor's 500 Index rose 1.8%; Nasdaq index rose 1.6%. The market adjusted the risk bias, and the US dollar became the target of selling. Yesterday, the US dollar index fell below the level of 94 points.

It closed at 93.42, while the depressed US dollar benefited gold. In addition, faced with the uncertainty of the US presidential election results, gold became a safe-haven asset, which recorded three consecutive rises and returned to the 1900 level, closing at yesterday's high of 1909 US dollars per ounce.

There is uncertainty in the results of the US presidential election, which is now highly volatile. However, it is expected that the new White House owner will strengthen the strategy of stimulating the US economy. After the announcement of the president's name, the short-term is still beneficial to the trend of gold price.

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