Weekly

Today's volatility range:

There is positive news from the Brexit negotiations. The market reports that Congress will approve the second round of epidemic stimulus bill with a scale of 900 billion US dollars by the end of the year. Investors look forward to the further decline of the US dollar and support the turning point of gold price rising to 1853 US dollars.

It is expected that the price of gold will hover at the current price before the US interest rate meeting tomorrow. Today, the main volatility is between $1843 and $1863.

Yesterday, the Reserve Bank of Australia released the minutes of its monetary policy meeting, and predicted that it would not raise the cash interest rate for at least three years. The RBA said that it will not raise interest rates until it reaches the target of keeping inflation at 2-3%, and is prepared to buy any amount of bonds.

To maintain the 3-year yield target. He also said that the economy has improved, seeing that household consumption is rebounding smoothly and basically meeting expectations, but it will take some time to return to the economic level before the epidemic, because the expected economic recovery is not balanced.

A large amount of idle capacity continues to appear in the labor market and the overall economy, so it is necessary to give priority to solving the prospect of long-term high unemployment rate. Finally, it is added that economic recovery depends on major policy support, so we will continue to pay close attention to economic changes.

And maintain monetary and fiscal policies to stimulate the local economy in a timely manner.

At the beginning of this month, Australia announced that its GDP in the third quarter rebounded by 3.3% quarter by quarter, which was the strongest increase since statistics were made in 1976. The main reason was that the Australian government controlled the epidemic properly, and it also relied on the RBA to implement monetary and fiscal policies decisively.

In addition to drastically reducing the central bank's interest rate to 0.1%, it participated in the quantitative easing policy of up to 260 billion US dollars for the first time, and increased the liquidity of money to ease the repayment pressure of small and medium-sized enterprises. After the negotiations on Brexit were extended, there was further progress yesterday.

German negotiators revealed that the EU and Britain will reach an agreement by the end of this week at the latest. According to reports, the atmosphere of yesterday's meeting was good. The two sides discussed two major issues of disagreement, including fishing rights and fair competition provisions.

All of them are tolerant of the bottom line mentioned before. It is reported that the EU will set up a complaint mechanism with the UK to solve unfair competition and avoid frequent international legal proceedings. As for the UK, apart from emphasizing the sovereignty of British waters,

It is also possible to open EU fishing boats to fishing in British waters., The problem is the amount of catch distribution, and Britain is also considering granting quotas to EU fishing boats to protect Britain's interests.

The news is good for the European stock market, and the German DAX index rose by 1.06%; French CAC index rose 0.04%. The British stock market is still affected by the tightening of epidemic prevention restrictions, with the FTSE 100 index falling for two consecutive days, with a loss of 0.28%.

The United States is defusing two political and virus bombs, and the Democratic presidential candidate Biden has been finalized as the new president. Although more than 170,000 people in the United States are infected with SARS-CoV-2, the United States has also begun to vaccinate American nationals against COVID-19.

The virus pandemic will always be solved in the near future. The new york stock market rose across the board, and the Dow Jones index rose 1.13%; Standard & Poor's 500 Index rose by 1.29%; Nasdaq index hit a new high, up 1.3%. Positive news came from the Brexit negotiations.

Stimulated the euro and pound to rise against the US dollar. The US dollar index hovered at a two-year low and closed below 90.5 points. Gold became more attractive under non-US dollar pricing.

More importantly, the market reported that Congress will approve the second round of epidemic stimulus bill with a scale of 900 billion US dollars by the end of the year. The market expects the US dollar to fall further, and the gold price rose yesterday, closing at 1853 US dollars per ounce, up 26 US dollars.

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