Weekly

October 4(th)

Today's volatility range:

China is facing an economic crisis, and the poor employment data of the United States have become good news for the gold market. The risk is that the Fed will withdraw from the market soon, and once the Fed starts to shrink its table, it will be detrimental to the future trend of the gold market.

However, the news of the Fed's water collection has spread for too long and should have been digested by the market. Last week, the price of gold got rid of the trend of falling for three consecutive weeks, and it is expected that the price of gold will continue to rise this week. Wednesday focused on non-agricultural data of the United States, which may fluctuate greatly. Today, it is suggested that the amplitude is between 1755-1766 US dollars, the upper break can chase more, and the erosion can be stopped at 1764 US dollars, and the stroke can be seen at 1730 US dollars. Two mosquitoes beat four mosquitoes, with a worthwhile stroke rate.

Last Friday was China Goodsky Day, and the Hong Kong stock market was closed. In the past week, the Hang Seng Index rebounded by 385 points or rose by 1.59%. However, to sum up, in September, under the policy of "common prosperity" put forward by Chairman Ji, many mainland sectors were hit.

In addition, the debt default of Evergrande Real Estate caused poor performance of Chinese stocks. The Hang Seng Index dropped by more than 1,300 points, a drop of 5.3%, and fell for four consecutive months, underperforming the world stock markets.

Rising energy prices and supply bottlenecks have led to an intensification of the economy in the euro zone, and the market is worried that the rising economy will increase the operating costs of enterprises.

However, the job market is still poor, and all the increase cannot be passed on to consumers, which will eventually affect the profits. Venture investors reduced their holdings of European stocks. In addition, Bank of England Governor Bailey said last week that "if the policy is changed, his preferred tool is interest rate adjustment", and the market expects that the UK will speed up the adjustment of the current interest rate.

The three major European stock markets fell across the board, and the German DAX index fell 2.42%; France Paris CAC index fell 1.82%; Britain's FTSE 100 index fell 0.35%.

Members of the U.S. Senate and House of Representatives approved the short-term appropriation bill before the death line until the end of the year, which successfully avoided the shutdown of the U.S. federal government and stopped the operation of the federal government due to the emptiness of the treasury. In addition, with the coming out of oral drugs to treat COVID-19, U.S. stocks rebounded on Friday.

Federal Reserve Chairman Powell spoke last week, saying that the United States is still far from full employment, while inflation is much higher than the target. The news that the Federal Reserve proposed to reduce its debt purchase in October was sung into the clouds, and the market generally believed that the Fed would speed up its interest rate hike.

To sum up the week, the three major Wall Street indexes fell across the board yesterday, with Dow Jones index falling 1.4% and S&P 500 index falling 2.2%. Nasdaq index closed down 3.2%.

Powell's speech yesterday also pointed out the pain point of the American economy, that is, the employment situation is "contrary to inflation". The number of people who applied for unemployment benefits for the first time in the United States last week was announced, and the number rose again to 362,000, which has risen for three consecutive weeks. After the figures were released, the risk market was flooded.

The three major indexes on Wall Street fell across the board yesterday, with Dow Jones index falling 1.59% and S&P 500 index falling 1.25%. Nasdaq index closed down 0.44%.

Last week, the gold market was low and then high. The market expected the Fed to raise interest rates faster, and the price of gold fell on Tuesday and Wednesday.

However, Powell said in his speech that the pain point of the US economy was that the employment situation was "contrary to inflation". The US dollar index dropped from a high level, and the bulls made counter-attacks.

The gold market once rose sharply by more than 40 dollars. On Friday, the gold price still went up, rising by 4 dollars. Last week, the highest price of gold was $1,764, and the lowest price was $1,722. It closed at $1,761 and rose by $10 in a week.

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