Weekly

January 23rd
 
Today's amplitude range
 
A number of economic data from the United States show that the economy will slow down, making the trend of the US dollar depressed again. In addition, the countdown of the potential default of the US government has entered the final stages, which has increased the demand for gold hedging. The gold price has exceeded the high of this year, and the gold price has received good support at US $1900. However, the long and short sides are in the middle of US $1930, and the long target has turned to the 2000 mark; But the shock before the breakthrough is inevitable. Today, the recommended fluctuation of last Friday was maintained from $1920 to $1936.
 
I wish you all a good luck in the New Year of the Rabbit!
 
The Chinese New Year is approaching, and the global demand for RMB settlement is gradually coming to an end. Whether the onshore or offshore price of RMB is weakening, Hong Kong stocks fell first and then rose last week. With the decline of the RMB and the pumping tide in the market, investors are afraid that the stock price has peaked, and the Hang Seng Index fell to 21600 points to fight. With the last trading day of the Year of the Tiger, the Hang Seng Index was swept up more than 300 points and returned to 22000 points. In one week, the Hang Seng Index rose 306 points, or 1.41%, to close at 22044.
 
After two consecutive weeks of gains, European stocks adjusted downward last week. The market has largely digested the optimism of China's economic recovery. The rebound of European stock markets is gradually coming to an end, and European stocks are weakening. Last week, President Lagarde of the European Central Bank of Canada said that the central bank would continue to raise interest rates until inflation was reduced to 2%. Investors were disappointed that Lagarde did not put up a pigeon. The three major European stock markets fell across the board last week, and Germany's DAX index fell 0.35%; The CAC index in Paris, France, fell 0.39%, and the FTSE 100 index in Britain fell 0.94%.
 
At the World Economic Forum in Davos, Switzerland, several business leaders expressed their concerns about global inflation, and the impact of the tightening monetary policy of central banks on the market, which infected investors with pessimism. In addition, the results of the two major banks in the United States were disappointed compared with the market; In addition, the manufacturing index of the Federal Reserve of New York of the United States set the worst record since May 2020. After the largest decline in retail sales in the past year in December, the number of new housing starts in the United States fell for five months in a row. The data showed that the market's worries about economic recession gradually increased. The three major stock indexes on Wall Street developed ahead of each other. The Dow Jones Index fell 2.7%, the Standard&Poor's 500 Index fell 0.54%, and the Nasdaq Composite Index rose 4.34%.
 
A number of economic data from the United States show that the economy will slow down and make the US dollar weaken again. In addition, another time bomb in the market is quietly starting. The political conflict in Congress has led to the potential default of the US government, which is in the final countdown stage. The US insiders will make the Biden Group face more difficulties in the governance issues. The demand for gold hedging will increase. The gold price broke the high of this year again last week, and the lowest price last week dropped to 1896.7 US dollars, The market closed at US $1926.7, up US $5.7 in a week.
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