Weekly

Today's volatility range:

The US dollar continued to weaken, and the gold market did not fear the news that the vaccine was officially launched in the UK. The gold price continued to rebound yesterday. After Yellen took office, a larger post-epidemic economic stimulus plan may be launched.

By then, the gold price will have a better understanding of resisting inflation and currency depreciation. Today's major volatility is 1811 to 1840 dollars.

Australia announced the third quarter GDP yesterday, which rebounded by 3.3% quarter by quarter, which was better than the expected 2.5% increase and exceeded the upper limit of 2% to 3% set by the Federal Reserve Bank of Australia last month.

This quarterly report is the strongest increase since statistics were made in 1976. The main reason is that the Australian government has properly controlled the epidemic and the authorities relaxed social distance restrictions, which caused a sharp increase in consumer spending;

It also depends on the Australian Federal Reserve's decisive decision to implement monetary and fiscal policies. In addition to drastically reducing the central bank's interest rate to 0.1%, it also participated in the quantitative easing policy of up to 260 billion US dollars for the first time.

And provided commercial banks with a credit line of up to 200 billion U.S. dollars to increase currency liquidity to ease the repayment pressure of small and medium-sized enterprises. However, the report also pointed out that net exports fell in the third quarter,

This is mainly due to the decline in the demand for tourism and education services caused by customs closure, the deterioration of Sino-Australian trade relations, and the decrease in exports of minerals and agricultural products, which pose obstacles to Australia's recovery.

In Europe, the Brexit issue is still deadlocked, and there are barriers in three major issues: fisheries, fair competition and complaint handling mechanism. Some representatives of EU member States have indicated that they will not reach an agreement at any cost.

Banier, the chief negotiator of the European Union, called on both sides to calm down, and remained optimistic but expert in the negotiations. On the other hand, the EU "Recovery Fund" is expected to be approved.

Previously, Hungary and Poland forced the political topic of human rights expression into the examination and approval conditions, but yesterday, someone close to the European Central Bank President Lagarde said,

The EU may bypass Hungary and Poland to help the remaining 25 EU member States through a "recovery fund" of 750 billion euros.

Another heavy news yesterday was about the COVID-19 vaccine. The British Drug and Health Products Supervision Bureau said that the COVID-19 vaccine jointly developed by Pfizer Pharmaceuticals and German Biotechnology "satisfied its strict safety,

Quality and effectiveness standards ",approved Pfizer's application for emergency empowerment, and Britain became the first western country to approve COVID-19 vaccine, and can start to arrange vaccination next week. The market expects more capital inflow,

Coupled with the optimism of the official use of vaccines in the UK, the UK FTSE 100 index rose by 1.23%, and the other major European stock markets developed individually, and the German DAX index fell by 0.52%; The French CAC index rose by 0.02%.

According to the Beige Book published by the Federal Reserve Board of America, due to the sharp rise of new pneumonia cases, schools are closed again, which affects the ability of citizens to go out to work. The report points out that among the 12 Fed areas, 4 areas have hardly increased in recent weeks.

In other regions, there was only a slight increase, and the rapid spread of the epidemic and the economic recession dragged down some enterprises and families. Federal Reserve Chairman Powell urged Congress to pass the second round of epidemic relief measures as soon as possible.

House Speaker Pelosi made concessions for the first time. It was reported that she and Senate Democratic leader Schumer supported the $908 billion bipartisan plan as the basis for a new round of negotiations with congressional Republicans and the White House on Wednesday.

The introduction of epidemic relief measures is expected to benefit risky assets, and the Standard & Poor's 500 Index broke the market high for two consecutive days, up 0.18%; The Dow Jones index fell first and then rose, eventually rising 0.2%; The Nasdaq index failed to rise for five consecutive years and fell by less than 0.05%.

The gold market is not afraid of the news that the vaccine was officially launched in the UK. The data released by the United States yesterday was worse than expected. The number of non-agricultural employment in the United States increased by 307,000 last month, and the market expected 410,000;

Last week, US crude oil inventories decreased by 0.68 million barrels, while the market expected to decrease by 2.4 million barrels. The data made the US dollar even weaker, and the US dollar index hit a new low in three weeks, approaching 91 points and closing at 91.11 points.

Gold continued to rebound yesterday, closing close to the highest level of $1,832 per ounce, and closing at $1,831 per ounce, up $16.

Bitcoin fell to about $18,300 at worst yesterday, but mainly fluctuated between $19,100 and $19,300, closing at about $19,200 per bitcoin. I believe we are still waiting for an opportunity to create a record high of $20,000.

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