Daily

On January 16th

Today's range

A resurgent China drove other non-U.S. currencies, with the dollar index falling near $102. In addition, U.S. economic data did not support hawkish policy and Federal Reserve policymakers calculated that another steep rate hike this year would push the U.S. economy into a hard spot. The dollar's renewed decline supported gold's four-week rally. Today's US holiday, the volatility may narrow. The proposed range is $1,912 to $1,925.

The Hang Seng Index rose 747 points or 3.56 percent last week, while the Hang Seng Index closed at 21,738 points, as investment banks upgraded their forecast for Hong Kong's economic growth this year and US inflation data recorded its first drop in two and a half years.

Shares of Louis Vuitton Group have been the first to break on the concept of Chinese big money travel, European retail stocks followed the rally, coupled with an unexpectedly positive growth in domestic production in the UK and better-than-expected German income, indicating that the European economy is gradually recovering. The three major European stock markets have surged for two weeks in a row, Germany's DAX index is up 3.26 percent on a weekly basis. France's CAC index in Paris rose 2.87 percent and Britain's FTSE 100 rose 1.89 percent.

The latest US consumer price index released last week showed that inflation fell 0.1% in December on a monthly basis, recording the first decline in two and a half years. The data provided room for the Federal Reserve to slow the pace of interest rate hikes. In addition, the initial claims fell again last week, nearing the lowest level on record. The Dow Jones Industrial average rose 2.01 percent, the S&P 500 rose 2.67 percent and the Nasdaq Composite rose 4.82 percent.

With China on the rise, the yuan surging, the dollar index briefly above 101 last week, and the market focused on last week's weak consumer price index, which contracted 0.1 percent on a monthly basis, the first decline in two and a half years, gold swung sharply on Thursday, hitting a low of $1,870.3, just $4 off last week's low. After topping $1,900 as high, bulls rallied to a near high of $1,920.3 on Friday, up $54.2 in a week to a nine-month high.

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