Weekly

June 25 th
 
Today's volatility range:

Gold price fluctuated again yesterday, with the volatility of USD 15 narrowing from the previous day. The price of gold rose yesterday with the announcement of poor employment data by the United States, but the market reported that US President Biden was $579 billion

The infrastructure expenditure plan reached a preliminary agreement with the two major parties. The news benefited the risky market, and the gold market was suppressed, turning from rising to falling, with a loss of US$ 4 to close. It is expected to fluctuate today.

Maintain yesterday's suggested volatility at 1766-1785.
 
 
Yesterday, Hong Kong recorded a case of Covid-19 infection of unknown origin, which broke the local record of "zero diagnosis" for 16 days, and Hong Kong people had to start again. It is reported that the patient is a

For airport employees, their close contacts were temporarily reported to be negative after being tested, and the Health Bureau estimated that the employee was infected by contact with people with virus in the workplace. This new case clearly shows that

There are loopholes in Hong Kong's handling of foreign defense importation. In view of the continuous rebound of the epidemic situation in Britain and the wider spreading power of the new variant virus strain. The Hong Kong government announced that it would tighten quarantine requirements for people entering Britain.

Starting from next Monday, people arriving from Britain will have to undergo 21-day compulsory quarantine inspection at designated hotels, whether vaccinated or not.

 
With the advantages of Hong Kong's legal system and free flow of capital, HKEx has continuously absorbed mainland giant enterprises to list in Hong Kong. In the first half of this year, the amount of new shares raised reached a new high in 10 years, reaching HK$ 210.8 billion.

However, some securities people criticized that the attraction of the mainland new stock market to mainland enterprises is increasing day by day. If Hong Kong still only continues to eat its old money, it will be overtaken by domestic exchanges sooner or later. Hong Kong's stock market has two consecutive bombs,

The Hang Seng Index was cowhide, and finally rose by 0.23%. The Bank of England announced the interest rate decision yesterday, which remained unchanged at 0.1%, maintaining the existing scale of debt purchase, which was in line with market expectations. According to the Bank of England,

Mainly affected by the rise in energy prices, it is expected that the consumer price index will be further higher than the preset target level. The annual inflation rate in the UK is likely to exceed 3% in a short period of time, but commodity prices are expected to rise

The direct impact on inflation is only temporary, and it is emphasized that before there is clear evidence that the economy can continue to heat up and finally reach the inflation target after removing the hot money to push up inflation,

Bank of England will not tighten monetary policy.

European data is also favorable for economic news. The Ifo business climate index of Germany is 101.8 points better than expected, which shows that there is a good prospect for doing business and opportunities to increase investment, thus accelerating economic recovery.

The three major European stock market indexes rose across the board, and the German DAX index rose by 0.86%; The CAC index in Paris, France rose by 0.12%; The FTSE 100 Index rose 0.51%. The media reported that US President Biden and the Democratic Party and the Republican Party

Senators reached a preliminary agreement on a $579 billion infrastructure spending plan. U.S. President Biden said that this plan will create millions of jobs and realize a crucial part of Biden's economic agenda.

He expects to vote on the infrastructure agreement before the end of this fiscal year. If the infrastructure and budget bills are out of sync, they will not be signed. However, judging from the reaction of spokespersons of both parties, the plan is in the bag.

Schumer, the majority leader of the US Senate, said that the outline of supporting the bipartisan infrastructure bill is waiting for details. On the contrary, Republican Senator Portman made it clearer that although the Republican Party did not get them,

I wanted everything, but I still came up with a good compromise. Both the Republican Party and the Democratic Party promised to cross the finish line.

 
Biden's infrastructure spending plan stimulated infrastructure and resource stocks, with Wall Street's three major indexes rising across the board, Dow Jones index rising 0.95%, Standard & Poor's 500 index rising 0.59%, and Nasdaq index hitting a record high, rising 0.69%.

In terms of data, the US GDP in the first quarter of last night increased by 6.4%, as expected by the market, but the employment data was weak. The number of people applying for unemployment benefits for the first time in the United States increased by 411,000 last week, which was worse than expected. Poor employment data made the US dollar

Slightly soft. The price of gold fluctuated again yesterday. The price of gold started to rise yesterday because of the poor employment data announced by the United States. However, the market reported that US President Biden had reached a preliminary agreement with the two major parties on the $579 billion infrastructure expenditure plan

According to the agreement, the news benefited the risky market, and the gold market was suppressed. The gold price turned from rising to falling, and finally reported to 1775 US dollars, down 4 US dollars to close. Yesterday, the highest price of gold was $1,788, and the lowest price was $1,773, with the volatility of $15 narrowing from the previous day.

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