Weekly

June 8 th
 
Today's volatility range:

The US dollar fell due to the spread of dollarization in Russia, and the gold market was supported again. The gold price really challenged the psychological barrier of US$ 1,900 yesterday and closed close to this position. It is expected that a breakthrough will still be made above US$ 1,900.

Today, it continues to fluctuate, because it is optimistic about the performance of the market outlook, so it gradually pushes up the resistance and support position. Today, the proposed amplitude is 1888-1907.
 

The infection group of new varieties of viruses in Hong Kong continues to expand. Experts point out that there are loopholes in the inspection of inbound tourists by the Hong Kong Government, which leads to the entry of viruses into the community. However, the vaccination progress in Hong Kong is still slow.

The government only hopes to raise the vaccination rate continuously to build up the group immunization effect, and often stresses that the public must rely on extensive vaccination of COVID-19 before the economic activities in Hong Kong can resume.

People's life and travel have returned to normal, but their actual actions are zero. Do Hong Kong officials govern Hong Kong with Buddhist thoughts? In addition to the epidemic obstructing Hong Kong's economy, the changes in the business environment in recent rows have also caused foreign businesses

Choose to reduce investment in Hong Kong, and even choose to leave Hong Kong permanently. According to the report of a large survey bank, since 2019, the vacancy rate of Hong Kong offices has reached a 15-year high, and 80% of the rented floors have been retired

The financial sector, which is one of the lifeblood of Hong Kong's economy and comes from multinational companies, has also experienced a wave of foreign capital withdrawing from renting. The main reason for these big banks to withdraw from renting is the recent changes in the political behavior and ideas of the Hong Kong government.

So that investors no longer feel as safe as before, the government has really not done a good job!

 
Hong Kong stocks fell for the third consecutive day yesterday, and Hang Seng Index continued to fall by 0.45%. German industrial orders fell by 0.2% month by month in April, and the three major European stock markets were mixed. The German DAX index fell by 0.11%;

The CAC index in Paris, France rose by 0.43%; The FTSE 100 Index rose 0.03%. US Treasury Secretary Yellen said in the media after attending the G 7 finance ministers meeting in London that he is not worried about US President Biden' s

The $4 trillion spending plan will trigger inflation and raise interest rates. She believes that this spending level is not enough to cause excessive inflation, and said that if the final interest rate level rises slightly,

From the perspective of society and the Federal Reserve, this is actually a good thing. Yellen's remarks made the market worry that the Fed will speed up the pace of interest rate hikes. The three major indexes of Wall Street stock market developed independently, and the Dow Jones index fell by 0.36%.

The S&P 500 index fell 0.07%, while the Nasdaq index rose 0.49%.

 
In a statement issued yesterday, the Russian Ministry of Finance said that due to the US sanctions against Russia, the trade settlement gradually shifted from the US dollar to other currencies, and the Russian Ministry of Finance decided to support this change.

And will rely on economic means to encourage enterprises, whether private or state-owned, to switch from dollars to euros, but it is not intended to restrict the use of dollars. The Russian Ministry of Finance will create regulatory incentives to encourage the whole process.

The first goal is to make Russia a Europeanized country and let the euro completely replace the US dollar. Russia's Ministry of Finance added that such regulatory stimulus measures cannot include any ban, only economic measures.

At the same time, two important Russian media have withdrawn the expression quoted by the Ministry of Finance officials earlier. The official said that the Ministry of Finance may issue instructions to Russian state-owned enterprises, making them pioneers of de-dollarization.

But afterwards, the official retracted his statement.

 
Russian Finance Minister Siluano said last week that he is planning to sell out the US dollar assets of Russian sovereign funds and shift his focus to RMB, Euro and gold, and expects to be within one month at the earliest

After completing the warehouse transfer, and now adding the above reports, we can see how determined Russia is to dollarize; Although the Russian official withdrew his wording this time, the official is in charge of the iron curtain country like Russia

All powers, the ones below, will feel on their own. It's a piece of cake to achieve the will of the chief executive! Yesterday, the price of gold really tried to rush to the psychological barrier of 1900. The price of gold saw a minimum of 1882 US dollars yesterday, and the US dollar index was passed down

Russia fell after de-dollarization, and the gold market rebounded after being supported again, reaching a maximum of $1,900, closing close to yesterday's high of $1,899, rising by $8.

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