Weekly

Today's volatility range:

The virus is now mutated in Britain, and the capital flows to the US dollar to avoid risks. The rising trend of the US dollar index has been set at 90.5. The President-elect has hinted that the direction of quantitative easing policy will be expanded to benefit the gold price. Today's major volatility is expected to be between $1858 and $1878.

Britain was surprised to see the COVID-19 pneumonia variant virus strain, and the epidemic situation worsened. More than 36,000 people were infected yesterday. The United Kingdom has extended the Level 4 epidemic prevention measures to more areas in England, while Scotland has fully implemented the Level 4 epidemic prevention measures.

Britain's transition period from Brexit is just around the corner, which may be threatened by the epidemic. She is eager to solve the Brexit problem and leave her energy to deal with the runaway epidemic. British Prime Minister Johnson once again spoke with European Commission President Ursula von der Leyen.

It is said that concessions can be made on the catch, and the proposed tax rate will be reduced from 60% to 30%. However, the EU has refused and said that it only accepts 25% of the tax rate. German biotechnology said that the vaccine is still effective against variant viruses, and major European stock markets rebounded comprehensively yesterday.

The German DAX index rose by 1.44%; French CAC index rose by 1.36%; The FTSE 100 Index rose 0.57%. The euro and the pound against the US dollar also fell sharply yesterday. The pound against the US dollar once fell by more than 1%, and the market closed down to about 0.5%.

US President-elect Biden made a speech on the epidemic situation and economy. He described the COVID-19 epidemic in the United States as the darkest moment before Leon Lai Ming, and would consider invoking the national defense production law to increase vaccine production, so that more people could be vaccinated faster.

Regarding the economy, Biden said that the current economic rescue bill is the result of cross-party cooperation, but it is far from perfect. The United States needs more funds to fight the COVID-19 epidemic and needs to extend relief measures. And promised that his COVID-19 rescue plan would include cheques for direct payment.

His remarks imply that quantitative easing will be expanded. However, distant water can't save the near fire. Investors are worried that the mutant virus will hit the US economy again. In addition, the economic data released yesterday is unfavorable to the stock market. The American Consulting Association's consumer confidence index survey recorded 88.6 points worse than expected.

Last month, the sales volume of finished homes in the United States fell for the first time in nearly four months, which was unfavorable to the stock market. The new york stock market developed individually, and the Dow Jones index fell by 0.67%; The Standard & Poor's 500 Index fell 0.21%; News of research and development of trams in Apple's public market supported Nasdaq index, with Nasdaq rising 0.51%.

The US dollar continued to strengthen yesterday, and the US$ 900 billion bailout bill was digested. The European variant virus put investors' funds in the US dollar to hedge. The US dollar index rose to 90.6 points, and gold was under pressure again. The price of gold opened higher during the Asian market, reaching a maximum of 1884 US dollars per ounce.

When entering the European market, it turned down, and even fell to $1858 per ounce in the US market, and finally closed at $1860 per ounce, down $16.  

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