Weekly

February 25 th

Today's volatility range:

After the gold price rises above the psychological barrier of 1800, it will be consolidated and will be contended at the current price. The US dollar will weaken as the Federal Reserve will continue to buy bonds, and gold is still promising in the medium and long term.

Today's proposed volatility is between $1792 and $1815.

After more than a year of the new epidemic, when the unemployment rate in Hong Kong climbed to 7%, the public expected the new budget to help solve the problems, but the budget released yesterday was less sweet and spicy.

Disappointing the public. The most important relief measure in Financial Secretary Chen Maobo's Budget is to distribute $5,000 electronic coupons to eligible citizens over 18 years old and new arrivals in Hong Kong in five months.

Compared with the cash of 10,000 yuan in the previous year, it has shrunk by half; At the same time, the distribution of electronic coupons will involve 600 million administrative expenses, which is more than 400 million administrative expenses compared with the cash distribution measures of the previous year.

In any case, it is better to distribute cash. In addition, the Financial Secretary, Chen Maobo, proposed in the Budget yesterday that the tax rate of the first registration tax for private cars should be increased by 15%.

However, the increase of the licence fee by 30% is ostensibly aimed at the congestion of vehicles on the road, but it is still a treasury for the benefit of the government.

Hungary, which has a good relationship with the motherland, began to vaccinate the people with Chinese medicine SARS-CoV-2 vaccine, and was the first EU member to use Chinese vaccine.

Hungarian Prime Minister Orban said earlier that he trusted Chinese vaccines most, and said that he would choose Chinese medicine vaccines. Germany announced the fourth quarter GDP growth of 0.3% yesterday, which was better than the market expectation.

Driven the stock market to rise, the three major European stock markets all rose, and the German DAX index rose by 0.812%; The French CAC index rose slightly by 0.31%; The FTSE 100 Index rose 0.55%.

Powell, chairman of the Federal Reserve Board of the United States, continued to speak in the Financial Services Committee of the House of Representatives. He reiterated the statement made in the Senate Supervisory Commission the day before, that is, the US interest rate will remain low.

The Federal Reserve will continue to buy bonds to support the US economy.

On the issue of raising interest rates, Powell clearly pointed out that the Fed needs to meet the following three conditions before raising interest rates: 1) The inflation rate has reached 2%;

2) It can be predicted that the inflation rate will remain stable at this level or higher; 3) All economic indicators can show that the employment market is at the maximum intensity. When asked about the asset bubble from broadband, Powell responded,

Some asset prices are on the high side. As soon as this came out, the three major indexes of the new york stock market fell first and then rose to the new york stock market, and the Dow Jones index maintained its upward trend, rising for 6 days and rising by 1.35%; The Standard & Poor's Index rose by 1.14%;

Nasdaq index fell 0.99%. Yesterday, the price of gold rebounded to the highest of $1,814 per ounce, but Federal Reserve Chairman Powell's remarks in response to the asset bubble caused the dollar to fluctuate sharply by $25.

The US dollar index rose to 90.44 points, but it quickly softened. The gold market also fluctuated with the US dollar. The lowest price of gold fell to 1783 US dollars per ounce, and almost all lost ground was recovered.

It finally closed at $1803 per ounce, down $3.

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