Weekly

January 14 th

Today's volatility range:

The strength of the US dollar completely dominates the rise and fall of gold price, which has found support near the current price since last Friday's sharp fall. It is expected to still fluctuate today, and the suggested volatility is between 1835 and 1858 US dollars.

European Central Bank President Lagarde spoke for the first time this year, referring to the current situation and prospects of the Eurozone economy. She said that although the COVID-19 epidemic is still severe at the present stage and vaccine distribution is still difficult at the early stage, it is expected that there will still be enough vaccines to be used in the future. Lagarde added,

Some uncertainties that plagued the global economy last year have been eliminated, such as Brexit, US election, vaccine approval, etc. She believes that the prospects this year are more optimistic, assuming that the epidemic situation is gradually controlled, most European countries will be able to lift the blockade measures before the end of the first quarter of this year.

It is predicted that the economic growth of Yuanqu in 2021 will be 3.9%, which is more optimistic than the forecast of 3.6% in the economic report issued by the World Bank earlier. Driven by remarks, the two major stock markets in the Eurozone reported success yesterday, and the German DAX index rose by 0.11%; French CAC index rose by 0.21%;

Britain's FTSE 100 index fell by 0.13%. The US House of Representatives passed the impeachment bill against President Trump due to the Capitol Hill incident. Trump was accused of abusing his power in December 2019 and pressured Ukrainian President Zelenski to investigate the Democratic presidential candidate Biden and his son.

It was the first time that he was impeached. Trump has a high-profile personality and likes to make a name for himself. This time, he is regarded as seeking benevolence and becoming the first president to be impeached twice in American history.

House Speaker Pelosi criticized Trump for inciting rebellion, which obviously posed an immediate danger to the United States and must be impeached, obviously putting pressure on the Republican Party. Ten Republican congressmen defected and supported impeachment, but there were also opposition voices in the Republican Party, saying that Trump had agreed to transfer power to President-elect Biden.

The present stage is a good time to show peace and unity of the country, and Senate Republican leader McConnell has indicated that he will not use emergency power to review the impeachment bill submitted by the House of Representatives this week, that is, the Senate will not resume its session until January 19th, which means that Trump has little chance of being removed from office by Congress before the end of his term.

Having said that, yesterday, new york Mayor Bill de Blasio announced that new york would terminate all contracts with Trump's group on the grounds of "criminal activities", and Trump would lose more than 10 million profits every year, which became an alternative punishment. In terms of US data, the US core consumer price index increased by 0.1% last month in line with expectations.

The decrease of 3.25 million barrels of crude oil inventories in the United States last week was better than expected. The new york stock market performed repeatedly yesterday, and investors had no direction. Eventually, the stock market was mixed and the Dow Jones index fell 0.10%; The Standard & Poor's Index rose by 0.23%; Nasdaq index rose 0.43%. Federal Reserve officials spoke again yesterday,

The Federal Reserve will not raise interest rates until inflation reaches the 2% set by the Federal Reserve earlier, but investors are still worried about Biden's coming on the stage and even launch a big quantitative easing plan. Yesterday, the US dollar index continued to rise, and the gold market fluctuated yesterday. The trend of the US dollar still dominated the gold, which once made a maximum of 1,863 dollars per ounce.

The lowest price dropped to $1842 per ounce, with fluctuation of $21, and finally closed at $1845 per ounce, down $10.

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