Weekly

October 6(th)

Today's volatility range:

The U.S. economic data is improving, and Dee expects the U.S. Congress to pass the debt ceiling bill to maintain the AAA rating of U.S. Treasury bonds, which has stabilized the stability of the US dollar in the foreign exchange market.

The US dollar index has returned to the 94-point level to suppress the price of gold. Yesterday, the price of gold retreated from Monday's increase in the direction of deficiency. Small non-agricultural data came out tonight, and the market expects about 428,000 jobs to increase.

Since April this year, the published figures are all worse than expected. If this is the case in the future, it will help the gold price to break through the level of $1,770. Today's suggested volatility is between $1750 and $1774.

Today, the current government announced its last Policy Address, and Chief Executive Carrie Lam Cheng Yuet-ngor will read the full text in the Legislative Council later today.

However, when she was interviewed by the media yesterday, she took the lead in revealing some key points, saying that the policy address would focus on the housing and land supply that the public cares about, but she said that the relief measures had already been released, so the new policy address would not mention the support measures under the epidemic.

Some experts pointed out that the government will reorganize the Housing Transport Bureau in order to speed up the land examination and approval procedures. In terms of land supply, attention will be paid to the development of New Territories North and the links with Shenzhen will be strengthened. Suggestions such as loosening ancestral halls and forcing the auction threshold will also be put forward in this policy address.

Back to yesterday's performance of Hong Kong stocks, technology stocks are still under pressure. The Hang Seng Science and Technology Index started from the algorithm that the Bureau of Industry and Information Technology wanted to supervise Internet information services, and has fallen for four consecutive days, with a cumulative decline of 4%.

Yesterday, Alibaba hit a new low in listing in Hong Kong. Together with Tencent Holdings and Meituan, it fell by more than 1%, and the Hang Seng Index fell by nearly 350 points at most.

However, financial stocks and resource stocks did well to make up for the losses caused by technology stocks, and 24,000 shares of Hang Seng Index were recovered. In the absence of Beishui, the turnover of Hong Kong stocks was less than 100 billion yuan, which eventually rose by 67 points or 0.28%.

Three major European stock markets rebounded after falling for three days. European economic data is going forward, and European Central Bank President Lagarde expects the European economy to continue to recover, indicating that although the virus still plagues Europe, she expects the economy to return to the level before the virus pandemic before the end of the year!

The three major European stock markets rose across the board, and the German DAX index rose by 1.05%; The CAC index in Paris, France rose by 1.54%; The FTSE 100 Index rose 0.92%.

The institute for supply management non-manufacturing purchasing managers' index released yesterday performed better than the market expectation, and the market was optimistic about the economic prospects of the United States, benefiting the investment atmosphere.

The three major indexes on Wall Street rebounded after falling for three consecutive days, and the Dow Jones index rose by 0.92%. The S&P 500 Index rose by 1.01%; Nasdaq index rose 1.25%.

Moody's, the rating agency, expects the US Congress to pass the debt ceiling bill to maintain the AAA rating of US Treasury bonds, reflecting that the US will be able to fulfill its debt service obligations on time.

Moody's expectations promoted the stability of the US dollar in the foreign exchange market, and the US dollar index returned to the 94-point level.

The rising US dollar suppressed the safe-haven demand for gold, and with the announcement of small non-agricultural enterprises coming soon, the gold market completely retreated its gains on Monday.

The lowest price of gold was once at $1,749, and the highest price was at $1,770, closing at $1,760, down $10.

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