Weekly

June 10 th
 
Today's volatility range:

Yesterday, the price of gold continued to fluctuate, but it turned back before it reached the psychological barrier of 1900. It is still expected to be in a pattern of contention. The core consumer price index of the United States will be released tonight, and there will be a big market then.

Maintain the suggested amplitude in 1882-1904.

The results of the salary trend survey were announced earlier. After deducting the incremental salary expenditure ratio, the net salary trend indicators of civil servants were all required to reduce their salaries, but the Executive Council approved 180,000 civil servants

This year's salary freeze is also the second consecutive year after last year. A number of civil service unions welcomed the decision to freeze wages. Civil servants claim that the frozen salary last year shows that they have weathered the storm with the public,

Freezing wages again this year will definitely hurt the morale of civil servants as a whole. However, after careful consideration, civil servants holding golden rice bowls stayed at home and worked for a long time during the epidemic, and the time and money saved were a salary increase in disguise.

At present, ordinary wage earners do not talk about salary increase, that is, it is difficult to keep a job. While the unemployment rate in Hong Kong is as high as 6.8%, people are still in dire straits. What is meant by going through the difficult times together? Besides, since 2013,

Civil servants have accumulated a salary increase of nearly 30%, which is hard for ordinary people to expect. It seems that the morale of the public has been hit more than that of the civil service team!

 
Hong Kong stocks fell for five consecutive days, while Hang Seng Index continued to fall by 0.13%. The European Central Bank will also announce the interest rate decision today, and the market is expected to maintain the zero interest rate decision. Earlier, European Central Bank President Lagarde has definitely pointed out that,

We can't withdraw the monetary and fiscal policy support too soon. Therefore, the daily interest rate negotiation will not have a greater impact on the market. The three major European stock markets are mixed. The French stock market rose alone, and the DAX index fell 0.39%;

The CAC index in Paris, France rose by 0.19%; Britain's FTSE 100 index fell 0.22%. It is reported that millions of doses of COVID-19 vaccine produced by Johnson & Johnson have not been used in all parts of the United States, and will expire in parallel, causing waste.

State health officials called on the federal government to co-ordinate and coordinate the redistribution of vaccines. U.S. President Biden arrived in Britain to attend the G-7 Leaders' Summit, which will be held for three consecutive days from Friday.

According to the report, the Biden administration plans to donate 500 million doses of Pfizer's COVID-19 vaccine to the world, and may officially announce the plan at the G-7 meeting, while responding to the previous World Bank appeal.

 
The three major indexes of Wall Street stock market fell across the board, with Dow Jones index falling 0.44%, Standard & Poor's 500 index falling 0.20% and Nasdaq index rising 0.09%. The Bank of Canada announced yesterday that the interest rate will be decided.

Maintain the benchmark interest rate unchanged at 0.25%, and at the same time, announce to maintain the reduction of weekly bond buying scale of 3 billion Canadian dollars since April. Although Canada has not adjusted the interest rate and bond buying scale again,

But inflation is expected to continue to rise in the future. Earlier, the Bank of Canada predicted that if the inflation rate continued to reach 2%, it would consider adjusting interest rates, suggesting that the period of raising interest rates is not too far away. And in America,

The inflation rate has exceeded 2%. The reason is that the vaccination progress is ideal, and the epidemic prevention measures are gradually lifted. The US economy is stimulated by consumer behavior, and consumer prices are growing rapidly. The US core will be released tonight

According to the consumer price index, the price in May will increase by 0.4% more than that in April, and the annual rate will increase by 3.4%. This inflation rate cannot be considered moderate by any means! Yet the Fed still believes in inflation

It is temporary. I try to analyze their ideas from the perspective of Fed officials. Today, the employment situation in the United States is still not ideal, the high unemployment rate lies in about 6%, and the traditional idea is that the income of citizens increases.

Only when we have confidence in the future can we speed up expenditure, thus pushing up prices and causing inflation. Now inflation is caused by the retaliatory consumption of Qing consumers in the post-epidemic era, so it is temporary.

 
The views of Fed officials are not unreasonable, and some data need time to digest. For example, the leisure and hotel industry provided the most jobs in the ADP report last month, with a total of 292,000 jobs.

These new jobs are permanent or temporary, which is really difficult to predict and can only be proved by time. However, some experts put forward different views. In the Biden administration of the Democratic Party, welfare will continue to favor the poor.

When the unemployment assistance is enough to support daily life, it will make some people think about work, so the unemployment rate will be higher than the previous level, and enterprises will naturally raise their wages in order to win employees.

The general income of the public will still increase when the unemployment rate is too high, which will eventually lead to inflation. Cooked or cooked will be known at the latest next year, and the core consumer price index of China will be released tonight.

Yesterday, the price of gold continued to fluctuate, but it was generally flat, with a high and low volatility of only US$ 12. The price of gold rose by US$ 1899, reaching a minimum of US$ 1887, and finally closed at US$ 1889, down by US$ 4.

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