Weekly

February 1st

Today's volatility range:

First of all, I wish you all success in the Year of the Tiger in Batas!

After last week's cut of nearly $60 from a high level, the price of gold stabilized yesterday. The United States held talks with Russia to discuss the changes in the situation in Eastern Europe.

The temporary results were unknown, which became a risk factor, and the risk aversion mood in the gold market increased slightly. On the other hand, investors are still observing the non-agricultural data released by the United States this week.

Federal Reserve Baldin made an assessment of the job market, saying that the forthcoming employment report will grow strongly, boosting the gold price yesterday.

Yesterday, the volatility of gold price didn't narrow but rose. Unless the situation in Eastern Europe is tense again, the prospect of gold market is still weak. Maintain yesterday's suggested range of 1,782 to 1,798 dollars.

In the last year of the Year of the Ox, HKEx only provided half-day market, with a total turnover of HK$ 65.1 billion, and the Hang Seng Index closed up by 252 points or 1.1%, which was considered as the last prize. But to sum up the whole Year of the Ox, the performance of Hong Kong stocks is not only bad, but the facts are still very popular!

Due to a system of national economic monitoring policies, the wrestling between China and the United States, and the lingering impact of Covid-19 on the global economy, etc. Hong Kong has become a pain in the neck, affecting its attractiveness in the global economy.

Hong Kong stocks fell by 6,370 points or 21.1% in the Year of the Ox, underperforming the global stock market.

The tension in Eastern Europe has eased slightly, and the performance of the three major European stock markets is different. Investors are worried that the Bank of England will raise interest rates again at Thursday's meeting on interest rates.

On the contrary, the European Central Bank, which announced the results of the meeting on interest rates on the same day, has already indicated that there is no condition to raise interest rates in 2022.

With the interest rates changing, the three major European stock markets are developing separately, and Germany's DAX index rose by 1.01%. Paris CAC index rose by 0.48%; Britain's FTSE 100 index fell by 0.03%.

After Federal Reserve Chairman Powell said last week that he would take more radical measures than expected to fight the strongest inflation in 40 years, many officials spoke yesterday, generally supporting the general plan of raising interest rates in March, but the news seemed to be digested by the market. In addition, the performance of several large-scale companies in the US stock market this week has been publicly announced.

Investors are optimistic about the short-term performance of the US stock market, seeing that Apple and Visa, the credit card issuer, announced their satisfactory performance as soon as possible.

The three major Wall Street indexes rose across the board, with Dow Jones index rising by 1.17%, S&P 500 index rising by 1.89% and Nasdaq index rising by 3.41%.

After last week's cut of nearly $60 from a high level, the price of gold stabilized yesterday. The United States held talks with Russia to discuss the changes in the situation in Eastern Europe, and the temporary results were unknown, which became a risk factor.

Gold market risk aversion increased slightly. On the other hand, investors are still observing the non-agricultural data released by the United States this week.

Federal Reserve Baldin made an assessment of the employment market, indicating that the employment report to be released will grow strongly. Due to the pandemic, many workers are still waiting to see, and it is expected that the employment market will have a stronger performance until spring and summer.

This remark stimulated the rebound of the gold price, which started to rise from the opening price of 1791.7 USD, reaching the highest of 1799.9 USD, closing at 1797.2 USD, up 5.5 USD.

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