Weekly

June 28 th
 
Today's volatility range:

The gold market entered a correction period last week after experiencing a big slump a week earlier. It rose and fell in different trading days, but it was still in a volatile pattern. The price of gold was depressed several times when it approached $1,790.

Obviously subject to the psychological barrier of $1,800, but when it reaches $1,770, it won't fall. Recently, the price of gold has been significantly affected by the trend of the US dollar. This week, there are US non-agricultural data.

This is the employment data that even the Federal Reserve keeps a close eye on. The quality of the data can influence the thinking of Fed officials, and it will also provide the direction for the trend of the US dollar in advance. Today, the proposed amplitude is 1768-1790.

 
In order to prevent overheating of the economy, the central government introduced measures to regulate the flow of banks at the end of May, hoping to crack down on speculation, and announced that it would raise the foreign exchange deposit reserve ratio of financial institutions by 2 percentage points in mid-June.

That is, the current deposit reserve ratio will be raised from 5% to 7%. At that time, it was predicted that Beishui would flow backwards. Although Hong Kong stocks broke the traditional curse of five poor months, six must be possible.

However, at present, the results are hard to predict, because the Hang Seng Index rose continuously in the last three trading days last week, and now it is increasing compared with the market opening on June 1! Is it a traditional curse of poverty and poverty

Has been broken? Also look at the north water trend this week. The Hang Seng Index rose 487 points or 1.69% in one week.

 
Last week, the Bank of England announced its interest rate decision, which remained unchanged as expected by the market. The Bank of England said that due to the increase in energy prices, the consumer price index is expected to 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 it is reiterated that the Bank of England will not tighten monetary policy when the economy continues to heat up.

Earlier, European Central Bank President Lagarde said in his speech that financial support is still necessary, and if necessary, the European Central Bank still has room to cut interest rates. Combine that two statements,

Investors believe that there is still room for the EU and the UK to tighten their bond purchases. The major stock markets in Europe all rose last week, and the German DAX index rose by 1.04%; The CAC index in Paris, France rose by 0.82%;

The FTSE 100 Index rose 1.69%.

 
According to the results of the Federal Reserve's interest rate announcement last week, more members tend to raise interest rates early, which has impacted the gold stock market. Federal Reserve Chairman Powell released pigeons at the congressional witness for two consecutive days last week.

It is acknowledged that inflation has risen significantly in recent months, but the new variant virus is still one of the risks. And he expects inflation to fall back to the Fed's target level, saying that the Fed will not be worried

There may be inflation, and the Fed will raise interest rates preemptively, saying that it is fully prepared to use its tools to control the inflation rate around 2%. The other affects the pace of the Fed's interest rate hike

It is the American job market. Powell said at that time that there is still a long way to go for employment recovery. Although the American labor market is getting out of trouble, the actual number of recruits is at a high level.

However, this part of the increase was offset by the number of resignations and retirees, and 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.

 
In addition to Powell's testimony, there was no eagle again; The media reported that U.S. President Biden reached a preliminary agreement with Democratic and Republican senators on the $579 billion infrastructure spending plan.

Biden is expected to vote on the infrastructure agreement before the end of this fiscal year, although Biden said that if the infrastructure and budget bills are out of sync, they will not be signed. But judging from the reaction of spokesmen of both parties,

The plan is in the bag. The news once again stimulated the risk market, and the new york stock market had a bumper harvest; The three major Wall Street indexes rose across the board last week, with Dow Jones index rising 3.37% and Standard & Poor's 500 index rising 2.57%.

Nasdaq index hit a new record closing high, up 2.23%. After experiencing a big slump a week earlier, the gold market entered a correction period last week, and it rose and fell differently in five trading days, but it was still in a volatile pattern.

When it approached $1,790 several times, it was suppressed, which was obviously subject to the psychological barrier of $1,800, but it was supported again when it reached $1,770. The price of gold fluctuated and rose on Friday, finally reaching $1,782.

It closed at $7, up $18 on a weekly basis.

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