Weekly

February 4th

Today's volatility range:

The price of gold fell sharply before the US market opened, with a fluctuation of 20 US dollars, and the lowest price once fell below 1,790 US dollars.

After yesterday's meeting on interest rates, the Bank of England announced that it would raise interest rates by 0.25% again, which was already the move of the Bank of England to adjust interest rates in the first two months of this year. Affected by the UK interest rate hike, the US dollar fell against the British pound, and the US dollar index immediately turned from rising to falling, and the price of gold fluctuated greatly.

Although the price of gold once fell below the psychological barrier of $1,800, it still rose above $1,802, which is the real test of this support position. Tonight, there are non-agricultural data and unemployment rate in the United States, and I believe the market fluctuates greatly.

Today's suggested volatility ranges from $1,800 to $1,815.

On the third day of New Year's Day, Chikou! Sometimes it's really uncomfortable!

The unemployment rate in Hong Kong continues to decline, but last month's data showed that nearly 140,000 people in Hong Kong are still unemployed. Luo Zhiguang, the director of the Labor and Welfare Bureau, said earlier that due to the increasingly severe epidemic situation in Hong Kong, many industries were ordered to suspend business, which would affect the employment figures, which seemed to imply that the unemployment rate would rebound in February.

The most discontented thing is that when people want the government to distribute sugar to relieve people's hardship, some political parties actually hold the opposite view, which is very disappointing to the people!

As expected by the market, the Bank of England announced to raise interest rates again by 0.25% after yesterday's meeting on interest rates.

The Bank of England raised interest rates for two consecutive months this year in order to control the deterioration of consumer price prospects, because last year's inflation in Britain reached 5.4%, the highest in 30 years.

The European Central Bank announced yesterday that it would keep the interest rate unchanged. Even though the inflation rate in the last quarter of last year in the Euro Economic Area increased by 5.1% year-on-year, the European Central Bank still insisted on the promise of gradually withdrawing the pandemic stimulus measures, although earlier European Central Bank President Lagarde thought it was unlikely to raise interest rates this year, but according to media reports, the European Central Bank said it would consider ending the asset purchase plan in the third quarter;

That is, there is an opportunity to raise interest rates in the fourth quarter, but anyway, the interest rate in the euro zone will be much lower than that in the UK this year, because the market expects that the inflation rate in the UK will continue to rise, and the interest rate of the Bank of England will at least rise to 1%.

Britain has announced a rate hike of 0.25% for two consecutive months since the beginning of this year, which is very hawkish! The market has speculated whether Britain will raise interest rates by more than 100 ideas this year;

Some studies have pointed out that the European Central Bank may have to raise interest rates in the fourth quarter of this year ahead of schedule, because it may lose out to the impact of increased inflation. The three major European stock markets were threatened by the expected increase in interest rates, and fell in unison.

The German DAX index fell by 1.63%. Paris CAC index fell by 1.64%; Britain's FTSE 100 index fell by 0.61%.

The former Facebook meta-universe platform announced its results yesterday, and its earnings per share fell by 5% year on year.

As a result, investors were disappointed, the stock price plummeted by nearly 26%, and the market value evaporated by more than 200 billion US dollars, the biggest one-day market value drop in the history of American market. Zuckerberg, founder of Metauniverse Platform, said that the company is facing an unprecedented level of competition, but it is estimated that the revenue in the first quarter of this year will reach US$ 27 billion to US$ 29 billion, but it is still nearly US$ 4 billion lower than that in the fourth quarter of last year.

Affected by the deterioration of the performance of Yuanuniverse, the New York stock market has stepped in, the Wall stock market is close to collapse, and the Dow Jones index falls by 1.46%. Standard & Poor's 500 Index fell 2.38%; The Nasdaq index, which is dominated by technology stocks, fell by 3.74%.

The price of gold fell sharply before the opening of the US market, with a volatility of 20 dollars. After yesterday's meeting on interest rates, the Bank of England announced that it would raise interest rates again by 0.25% to the overall interest rate of 0.5%.

This is the first two months of this year, when the Bank of England adjusted interest rates. Affected by the UK interest rate hike, the US dollar fell against the British pound, and the US dollar index immediately turned from rising to falling, and the price of gold fluctuated greatly.

Yesterday, the highest price of gold reached 1,809 US dollars. After the news of Bank of England's interest rate hike appeared, the price of gold plummeted to 1,788.7 US dollars in half an hour, but then it rebounded rapidly to close at 1,804.9 US dollars, down 2 US dollars.