38 confirmed cases of COVID-19 in Beijing may affect asset prices in Asian markets, The dollar fell to a three-month low, driving gold to rise
38 confirmed cases of COVID-19 in Beijing may affect asset prices in Asian markets
In the past weekend, 38 outbreaks of COVID-19 have been diagnosed in Beijing, and there is concern about the second wave of outbreaks in Beijing. I believe that these worries may affect asset prices in Asian markets this week. As for economic figures, China's industrial production and retail sales figures for May announced today are also worthy of attention.
The dollar fell to a three-month low, driving gold to rise
Although the hope of gradually liberalizing the economy boosted market risk appetite, once US stocks rebounded, the US dollar and US bond yields rose, and gold prices were under pressure, but concerns about the second outbreak of the epidemic still caused gold prices to rise this week. At the same time, the Fed this week hinted that the epidemic may cause permanent damage to the economy, and at the same time promised to continue to buy assets, strengthening the market's expectations of the Fed's continued easing, so the dollar fell to a three-month low, pushing gold to refresh more than a week high.
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In the past weekend, 38 outbreaks of COVID-19 have been diagnosed in Beijing, and there is concern about the second wave of outbreaks in Beijing. I believe that these worries may affect asset prices in Asian markets this week. As for economic figures, China's industrial production and retail sales figures for May announced today are also worthy of attention.
The dollar fell to a three-month low, driving gold to rise
Although the hope of gradually liberalizing the economy boosted market risk appetite, once US stocks rebounded, the US dollar and US bond yields rose, and gold prices were under pressure, but concerns about the second outbreak of the epidemic still caused gold prices to rise this week. At the same time, the Fed this week hinted that the epidemic may cause permanent damage to the economy, and at the same time promised to continue to buy assets, strengthening the market's expectations of the Fed's continued easing, so the dollar fell to a three-month low, pushing gold to refresh more than a week high.
Z. com Bullion is an affiliate of GMO Financial Holdings, Inc., a Japanese listed group. The risk of loss in leveraged foreign exchange trading & margin trading can be substantial. Visit the company website to read full risk warning. https://bullion.z.com/en/about/legal/risk/
