Weekly

March 3 rd

Today's volatility range:

Gold price reversed its daily decline yesterday. Biden's $1.9 trillion economic stimulus plan will eventually stimulate inflation. Whether the US dollar turns first will affect gold price. Pay attention to the Fed's decision and remarks on raising interest rates.

Coupled with the non-agricultural figures in the United States this week, gold prices are expected to fluctuate within a narrow range today. The suggested volatility is between $1728 and $1743.

When interviewed by foreign media yesterday, Financial Secretary Chen Maobo said that increasing stamp duty would not affect the competitiveness of the Hong Kong stock market because stamp duty only accounted for a small part of the cost.

And pointed out that the increase in stamp duty was moderate. However, stamp duty on stocks in Hong Kong is already the biggest cost in the whole stock trading process, so I don't understand the remarks made by Financial Secretary Chen.

The market even interpreted it as an opportunity to increase stamp duty and immediately turned around and fell. Although Chen Maobo later clarified that there was no plan to withdraw stamp duty, the market did not sell accounts. The Hang Seng Index fell nearly 500 points.

The whole day fell 356 points, and it narrowly kept 29,000 levels. Although the epidemic situation in Europe has not subsided, it has gradually relaxed the quasi-social restrictions. German Chancellor Merkel pointed out that it is necessary for Germany to partially lift the blockade.

France plans to reopen the campus, and investors are eager to revitalize the economy. Yesterday, all three major European stock markets rose, and the German DAX index rose by 0.19%; French CAC index rose by 0.29%; The FTSE 100 Index rose 0.38%.

Valensky, director of the US Centers for Disease Control and Prevention, warned that variant novel coronavirus may lead to the fourth wave of outbreaks in the United States, saying that about 70,000 confirmed cases were added every day last week, which is a very high number.

Remind people not to relax. Yesterday, the United States began to vaccinate its citizens against Johnson & Johnson's single dose of COVID-19 vaccine, while the US government announced that Merck will assist Johnson & Johnson in producing and packaging vaccines to speed up the production and supply of vaccines.

The fourth wave of epidemic affected investor sentiment. In addition, Fed official Daley paid attention to the rise of assets, and the three major indexes of new york stock market rose first and then fell, and the Dow Jones index fell 0.46%;

Standard & Poor's index fell 0.81%; Nasdaq index was the worst, down 1.69%. The nominee for the chairman of the US Securities and Exchange Commission said at the hearing of the US Senate,

It is necessary to ensure that cryptocurrencies are free from fraud and manipulation. The market is worried that Gaenssler will supervise cryptocurrency after taking office, which will drag down Bitcoin from rising to falling, and Bitcoin will lose the $50,000 mark again.

Yesterday, the price of gold reversed its daily decline. In the early period, the lowest price of gold fell to US$ 1,707 per ounce, but the US dollar weakened, and the price of gold gradually recovered during the US market. Gold reversed its daily decline.

Finally, it closed at an all-day high of $1,739 per ounce, rising by $14.

For detailed analysis and operational suggestions, please CLICK the following link to join the group and check with the administrator
https://t.me/mingtakchat