Weekly

June 23 rd
 
Today's volatility range:
Gold price fluctuated yesterday, Federal Reserve Chairman Powell gave a mild testimony for the second consecutive day, and the US dollar exchange rate weakened. The US dollar index fell for the second consecutive day yesterday, falling nearly 91.6 points.

The yield of U.S. 10-year Treasury bonds also dropped slightly, which should benefit the gold price. However, investors had locked in profits before Powell's testimony today, and the gold price rose first and then fell. It is expected that today will still be turbulent,

Today, the proposed amplitude is 1770-1788.

A European investment bank published the Global Wealth Report, which pointed out that because Covid-19 hit the global economy hard, local governments and central banks kept printing money, which caused a flood of hot money all over the world.

The global stock market has also skyrocketed, and the number of wealthy people with over one million dollars in the world has increased by more than 10% year-on-year; However, the report also pointed out that the richest people in Hong Kong in the same period failed to benefit from the wave of asset appreciation.

On the contrary, it has become poorer. According to the report, the per capita wealth of adults in Hong Kong last year was US$ 503,400, shrinking by US$ 26,400 year-on-year. In terms of amount, the decline is the highest in the world! Sitting over during the period

Hong Kong millionaires with a net worth of $1 million also decreased by 7.14%. Under the report, Hong Kong has once again become the number one. I wonder if anyone will be ashamed.

Some experts pointed out that there are several main reasons for the decline of millionaires in Hong Kong. First, there are social events, which have significantly reduced the number of people coming to Hong Kong from the Mainland, and the income of people who depend on mainland customers for food has naturally decreased.

Coupled with the outbreak of the epidemic in Hong Kong in the 21st century, the Hong Kong Government has failed to take effective measures to suppress the epidemic for a long time. Customs clearance in the Mainland is far away, and business is getting harder and harder, which makes it possible for companies to close down. The Sino-US conflict,

Hong Kong has become a grinding heart, and even its status as a special customs territory is not guaranteed. What is even worse is that on July 1 last year, Hong Kong enacted the National Security Law and made a second return. Foreign investment tends to reduce investment or even withdraw funds.

Many families choose to leave Hong Kong and emigrate overseas, and those who have the ability to leave first are exactly the targets mentioned in the report. Therefore, it is normal for the report to say that the number of millionaires in Hong Kong has dropped.

The performance of Hong Kong's stock market was not good, and the external reaction could be described as falling but not rising. The Hang Seng Index rose first and then fell, and fell to almost yesterday's lowest level, with a drop of 0.63%, hitting a new low for more than one month.

 
The British Ministry of Health announced that the blockade in England could be completely ended on July 19th as planned, because the newly added cases did not lead to death, indicating that the vaccine was working. In addition,

As the epidemic situation has improved, the Italian government will lift the requirement of wearing masks outdoors from Monday. With the decline of European fatigue, the three major European stock market indexes all rose, and the German DAX index rose by 0.21%;

The CAC index in Paris, France rose by 0.14%; Britain's FTSE 100 Index rose 0. 39%. Federal Reserve Chairman Powell expressed his views on inflation when attending the congressional witness for the second consecutive day, saying that the Fed

I will not raise interest rates preemptively because I am worried about inflation. I still have some confidence in the current forecast that inflation is temporary. Moreover, the Fed is fully prepared and will use its tools

Keep the inflation rate near 2%.

When referring to another factor that affects the Fed's rate hike: the US job market, Powell said that employment recovery still has a long way to go, although seeing the US labor market,

Being out of trouble, the actual number of recruits is at a high level, but this part of the increase is offset by the number of resignations and retirees, and the temporary factors are affecting employment and extending unemployment benefits

May be one of the factors. Finally, he reiterated that the Federal Reserve will not raise interest rates until the job market and economy show broad and comprehensive signs of recovery. Powell's testimony the next day can be said to be fair,

No more hawkish information was disclosed, but for venture capitalists, no news is good news. The three major Wall Street indexes rose across the board, with Dow Jones index rising 0.20% and Standard & Poor's 500 index rising 0.51%.

The Nasdaq index hit a record closing high, up 0.79%. Federal Reserve Chairman Powell gave a mild testimony for the second consecutive day, and the US dollar exchange rate weakened. The US dollar index fell for the second consecutive day yesterday.

It fell nearly 91.6 points, and the yield of US 10-year Treasury bonds also fell slightly. The price of gold fluctuated yesterday, rising first and then falling, with the highest value reaching $1,790 and the lowest value reaching $1,772, and finally closing at $1,779, down $4.

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