Weekly

July 16 th
 
Today's volatility range: US Federal Reserve Chairman Powell attended the Senate hearing for the second consecutive day yesterday, saying that this high inflation is unique and hinted that it will not shrink before the end of 2022.

Powell's continued pigeon release is beneficial to gold price performance. Best of all, under high inflation, the yield of 10-year U.S. Treasury bonds fell, supporting gold, a technology tool that won't earn interest. The gold price difference was only $0.8 before yesterday

The proposed short-term target is $1,835, but it is only $1,820 to stabilize and $1,835 is just a stopover. It is expected that the price of gold will be consolidated before breaking through. Today, the proposed amplitude is between 1820 and 1836.

Earlier, China Cyber Security Regulatory Bureau conducted anti-monopoly regulatory review on leading technology companies, and investors were worried that the whole high-tech industry would be purged and suppressed, and its performance would stagnate.

Yesterday, it was reported by the media that 33 Internet companies in the Mainland, including Alibaba and Tencent, jointly signed the Industry Anti-monopoly Self-discipline Convention. Their automatic dedication this time is in response to the central government's "strengthening anti-ridge."

Break and prevent disorderly expansion of capital ",followed by avoiding suspicion. However, it is said from the market that Alibaba and Tencent have come up with an excellent bridge to resolve the crisis brought by anti-monopoly and turn it into an opportunity!

It is reported that the two leading technology companies will allow each other to enter some of their own software platforms to avoid the suspicion of monopoly. Although the news has not been confirmed, it has stimulated the Hong Kong stocks Alibaba to open higher and Tencent to rise sharply.

Leading the overall atmosphere of the market yesterday, Hang Seng Index rose 0.75% to close yesterday.

 
The epidemic hit European stock markets, and the performance of many companies was not satisfactory. The three major indexes of European stock markets fell for the third consecutive day. The DAX index in Germany fell by 1.01% and the CAC index in Paris, France fell by 0.99%; Britain's FTSE 100 index fell 1.12%.

In terms of US data, the number of people applying for unemployment benefits for the first time in the United States fell to a 16-month low last week, with a figure of 360,000, which was in line with market expectations, reflecting the increased motivation of the job market, but the shortage of workers led to an increase in wages.

It will hinder enterprises from raising production costs to meet demand and aggravate investors' worries about rising inflation. After the data was released, the US dollar index once climbed to 92.7 points yesterday. US Federal Reserve Chairman Powell attended yesterday

At the Senate hearing, it was bombarded by members, questioning whether Powell's commitment to controlling inflation could be fulfilled. Some members ridiculed that the Fed could not predict the inflation level, and could it be believed that the Fed could predict it

Duration of inflation. Powell seems to be under pressure in the face of sharp criticism, but everyone with discerning eyes knows that the biennial election of the Senate will be held in 2022, and Members have taken the opportunity to pump water, which is nothing more than a political gesture to win votes.

 
Powell added yesterday to Wednesday's statement that the road to economic recovery is still long. He said that inflation and the rate of employment growth will determine the Fed's monetary stance. When the Fed issued a tightening monetary policy,

The market tends to fluctuate violently. Therefore, by November 2022, the timing of any possible reduction or interest rate increase may play a decisive role. And said that he would continue to hold active discussions in future meetings on interest rates.

The Federal Reserve continued to be biased towards pigeons, and hinted that it would not shrink its table before the end of 2022. The yield of 10-year US Treasury bonds fell to 1.30%. The number of new claims for unemployment benefits in the United States fell last week, but the shortage of workers led to an increase in wages.

It will hinder enterprises from raising production costs to meet demand and aggravate investors' worries about rising inflation. Triggered investors to sell shares in the new economy, the three major Wall Street indexes developed individually yesterday, and the Dow Jones index rose by 0.15%.

The Standard & Poor's 500 Index fell 0.33%, and the Nasdaq Index fell for three consecutive days, losing 0.7% to close. Federal Reserve Chairman Powell released pigeons for the second day in a row, and the gold market turned upward. Yesterday, the price of gold was as low as $1,820 and as high as $1,834.

It hit a new high this month for two consecutive days, and finally closed at $1,829, up $2.

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