Daily

June 11 th
 
Today's volatility range:

Yesterday, the price of gold fluctuated greatly due to the inflation rate in the United States, resulting in a double-win situation. Inflation beat expectations, but it still pushed the gold market up to the psychological barrier of 1900 and closed. It can be seen that bulls still have the upper hand.

It is expected to successfully challenge this barrier today. Today, the proposed amplitude is 1894-1908.
 

The Standing Committee of the National People's Congress passed the Anti-Foreign Sanctions Law before the end of the meeting, and President Xi Jinping signed the implementing law for immediate implementation. According to media reports, countermeasures include suspension,

Change or cancel relevant measures. The law can empower domestic official agencies to implement various sanctions against sanctioned persons or institutions, including non-issuance of visas, non-entry,

Cancellation of visa or deportation, sealing and seizure of movable and immovable property and other types of property, and restriction of trading cooperation with sanctioned organizations or persons in China. The provisions also stipulate that any domestic legal person

Anti-sanctions should be implemented against officially announced sanctioned persons and organizations. If they fail to implement or cooperate, they will be investigated for legal responsibilities according to law. If any organization or individual violates regulations and infringes on legitimate rights and interests,

Chinese citizens or organizations may bring a lawsuit to the people's court according to law to stop the infringement and compensate for the losses.

 
Although the provisions did not specifically mention how to implement the Anti-Foreign Sanctions Law in Hong Kong and Macao, earlier Chief Executive Carrie Lam Cheng Yuet-ngor welcomed the establishment of the bill to protect the legitimate rights and interests of the country;

Therefore, President Xi should not worry that the SAR will become a loophole in the law. Efforts to combat foreign forces did not help the performance of Hong Kong stocks yesterday. Hong Kong stocks fell for six consecutive days, and Hang Seng Index continued to fall by 0.01%.

The European Central Bank announced the interest rate decision yesterday, which is in line with the market forecast of zero interest rate. In his speech after announcing the interest rate decision, European Central Bank President Lagarde said that it is appropriate for European countries to use the emergency anti-epidemic bond purchase plan.

The economy of the euro zone is improving one after another, so the central bank raised the forecast of the whole euro zone in 2022 and 2023 by 1.5% and 1.4% respectively. Lagarde said that although inflation expectations will rise in the second half of the year,

However, with the gradual disappearance of temporary factors, the inflation rate will drop, and the overall inflation rate will be lower than the expected level. When inflation officially comes, it is estimated that the market interest rate will rise, and the normal score reflects the economic improvement.

However, the continuous increase may lead to premature tightening, and the European Central Bank will monitor the exchange rate. Lagarde not only expressed that it is not the time to withdraw monetary and fiscal policies, but also predicted inflation and interest.

She also mentioned the delisting arrangement for the first time, saying that there will be discussions about withdrawing from the emergency anti-epidemic bond purchase program "at an appropriate time".

 
At Thursday's meeting, it was reported that three policy makers of the European Central Bank wanted to reduce the purchase scale of the emergency anti-epidemic bond purchase program. The comments of these officials had a slight impact on the stock market in the euro zone.

The British stock market is unique, and the DAX index fell by 0.09%; The CAC index in Paris, France fell by 0.06%; The FTSE 100 Index rose 0.11%. Affected by the low interest rate environment, the epidemic situation is ending and the unemployment rate is high

However, the wealth of American families has been rising, and the net value increased to 5 trillion US dollars in the first quarter of this year, setting a historical record. The report pointed out that the survey results were mainly due to the appreciation of buildings and stocks.

The three major indexes of Wall Street stock market took advantage of the momentum, with Dow Jones up 0.05%, Standard & Poor's 500 up 0.47% and Nasdaq up 0.78%. Yesterday, the gold market fluctuated sharply.

The general account was better than expected. Last month, the inflation rate rose by 0.7%, which was nearly 75% higher than the expected 0.4%. After the figures were released, the gold market became a long-short double-killing development, with a minimum drop of $10 to $1,870.

However, the price of gold rebounded sharply by US$ 20. In addition, the auction of 10-year treasury bonds in the morning of today fell below 1.5% for the first time since May and won the bid at 1.497%, which stimulated the price of gold to rise to the highest level of US$ 1,900.

Finally, it closed close to this high, rising 11 dollars.

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