Weekly

June 21 ST
 
 
Today's volatility range:
Under the gloom of shrinking the table and raising interest rates, the gold market fell for three consecutive weeks. The already exhausted market situation was affected by the intention of the Federal Reserve Open Market Committee to raise interest rates early on Wednesday morning, and the gold price began to drop sharply.

Dropped $114 every week! From the trend point of view, the gold market plunged for three consecutive days, which has exhausted the long-term rising momentum from March to April. The next step is to test the support of 1725/56. On the optimistic side,

The price of gold has fallen close to the rising support track in the great era of 2019. If it is stable at 1760, it can rebound again. Today, the proposed amplitude is 1760-1783.

Federal Reserve Chairman Powell will continue to deliver his speech next Tuesday, and his words will surely attract market attention again. The United States will have the first quarter GDP of the United States and the last month of the United States next Thursday and Friday, respectively

The core personal consumption expenditure deflator is released, which is another data to measure the inflation index of the United States.
 
 
Since the launch of the vaccination program, the Hong Kong Government has been calling on the public to accept the vaccination program, but the response has been mediocre. However, since some merchants paid money to encourage more incentives, the vaccination rate in Hong Kong has obviously increased.

The Hong Kong Health Bureau announced yesterday that it had come to Hong Kong to vaccinate the public with a total of about 3.22 million doses of vaccines. The vaccination program is getting better and better, which is also reflected in the situation. There have been no confirmed cases in Hong Kong for 13 consecutive days.

The Health Bureau announced yesterday that starting from this Friday, the period of compulsory testing for staff in residential care homes will be relaxed from the current 14 days to 5 days. It seems that the people of Hong Kong, whether given injections or not, have done their part to keep the epidemic.

It is no longer going up, but whether we can see the dawn and get through this long winter depends on the control of the Hong Kong government.

 
On Friday, the market reported that HSBC sold its international business again. The plan is to sell the French retail banking business at a symbolic price of 1 euro. After that, the buyer is required to undertake French local assets with a net value of 2 billion US dollars

And related businesses. This is HSBC's move to internationalize again after it announced its withdrawal from the US retail and SME banking markets on the 27th of last month. Although HSBC management stressed that this arrangement will focus on developing the Asian market,

But to put it bluntly, HSBC has been betting its future on the Chinese market since Mr. Wang Dongsheng, their former Asia-Pacific chief executive, appeared in the street station in June last year and signed in support of the national security law of the port area.

Hong Kong stocks fell for three consecutive days at the beginning of last week, and recorded continuous increases in the last two trading days before the end of the week, but they were still red in the whole week, and the Hang Seng Index still fell by 0.14% in a week. It's only over a week away from the end of June.

It seems that Hong Kong stocks have escaped the five poor, but they can't escape the six unique ones!

 
With China's comprehensive ban on virtual currency, financial and payment institutions are forced not to carry out business related to virtual currency, and Bitcoin has continuously fallen below the US$ 40,000 and US$ 30,000 mark for the first time in more than five months.

Last Wednesday, it was as low as $29,625, which caused a ripple effect. Ethereum plunged 43% to as low as $1,905. The cryptocurrency is going up and down rapidly. What's the prospect? I hope to have a chance to analyze it again.

Last week, the most important interest settlement was the announcement of the interest rate decision by the Federal Reserve in the morning of the last issue. Although the results were as expected by the market, the Federal Open Market Committee voted to keep the interest rate unchanged at 0.25%.

However, the bitmap shows that more officials prefer to raise interest rates earlier, and members expect to raise interest rates twice in 2023, which will be faster than market expectations. Federal Reserve Chairman Powell even said that,

If the U.S. economy continues to make progress, it will consider the scale-down plan at the next meeting.

 
The sound of raising interest rate caused the stock market to fluctuate greatly, and the Dow Jones index fell by 4.91% three days after the Federal Reserve announced the results of interest rate decision. Under the haze of shrinking the table and raising interest rates, the gold market fell for three consecutive weeks, and the price of gold last week

The highest price is $1,878. The already exhausted market situation was affected by the intention of the Federal Reserve Open Market Committee to raise interest rates early on Wednesday morning, and the price of gold began to drop sharply, dropping by $114 every week! It is 2020

The biggest weekly decline since the beginning of March, even if the labor and manufacturing indexes released on Thursday were worse than the market expectations, it was still not enough to reverse the market's fear of the Fed's expected interest rate hike, and the gold price could not be bounced.

On Friday, the price of gold rebounded to 1797 US dollars, and the US dollar rose above 92.2. The price of gold rose first and then fell, and finally closed at 1878 US dollars, down 9 US dollars every day.

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