Banda Asia: US Treasury Secretary's Speech Consolidates Bull Confidence Gold refresh3Monthly high

White House officials said yesterday that US President Trump will postpone the release of a new version of the "Muhammad Ban" until next week to continue restricting entry into the United States from seven countries with a predominantly Muslim population. Trump stated that the new version of the "Mu Ban" will be customized according to the court's ruling, and this version will be announced this week. White House officials did not authorize discussions on internal discussions, nor did they provide reasons for delayed disclosure. Last Thursday, Trump stated at a White House press conference that "the ban will be tailored to appeal court rulings that I believe are very bad, and we can also adjust the ban based on the ruling of the House of Lords to achieve the same goal through different means." The ban is expected to be implemented in the future90Within days, citizens of seven countries including Iraq, Syria, Iran, Sudan, Somalia, Yemen, and Libya are prohibited from entering the United States. On Thursday, the Trump administration launched a comprehensive crackdown on illegal immigrants, which will result in more immigrants not needing to be quickly deported through court hearings. As long as they are found to have committed criminal acts or potential criminal risks, they can be deported without waiting for a guilty verdict from the court.


In addition, the Chairman of the Federal Reserve of Australia, Lowe, stated in a statement to the Sydney parliamentary committee earlier that he wants to ensure that Australian households do not accumulate too much debt using low interest rates, forcing them to cut expenses. Currently, most Australian households in debt seem to be able to handle this well. However, the current high level of debt, combined with low nominal income growth, all affect the consumption desire of Australian households, as can be seen from some consumption data. The necessary balance is to support current economic expenditures while avoiding fragile household balance sheets, which may later lead to economic problems. Lowe stated that the global economy is more stable. Australia2016The annual economic growth rate may be2%Nearby, expected2017Year and2018The annual economic growth rate is approximately3%. Lowe said it is difficult to say that the Australian dollar is overvalued, and he hopes that the Australian dollar will weaken rather than strengthen. If commodity prices rise, it is expected that the Australian dollar will also appreciate. He believes that commodity prices will fall again.


The data that needs attention today is France2Monthly Consumer Confidence Index, Italy12Monthly industrial order rate after rose adjustment, UK1monthBBANumber of mortgage loan permits for home purchase, Canada1monthCPIAnnual rate, United States2The final value of the monthly University of Michigan Consumer Confidence Index and the United States1The annualized total sales of new houses after the adjustment of the rose season.


gold/dollar

Gold surged significantly yesterday, refreshing3At a monthly high, the current exchange rate is trading at1250Nearby. In addition to the disappointing Federal Reserve meeting minutes continuing to provide some support for gold, the new US Treasury Secretary Stephen Nuchin stated that this year8The statement that a "very significant" tax reform will be launched in the month is also an important factor supporting the rise of gold. In addition, according to the latest polls, the support for French presidential candidate Le Pen has increased, and the risk aversion sparked by rising political concerns in the eurozone has also provided strong support for gold. Follow Today1260Nearby pressure situation, supported below1240Near.

dollar/Japanese yen

dollar/The Japanese yen fluctuated and fell yesterday, refreshing2Weekly low, spot exchange trading at112.80Nearby. The US dollar index in the disappointing Federal Reserve2Monthly Meeting Minutes and US Treasury Secretary Stephen Nuchin8The weakening of the US dollar under the suppression of tax reform comments in the month is putting pressure on the US dollar/The main reason for the decline of the Japanese yen. In addition, the rising political concerns in the eurozone and the risk aversion triggered by the decline in US bond yields have also put some pressure on the exchange rate. Follow Today113.50Nearby pressure situation, supported below112.00Near.

dollar/Cad

dollar/The Canadian dollar fluctuated and fell yesterday, losing ground at one point1.3100Pass and refresh3Trading day low, spot exchange rate trading at1.3100Nearby. In addition to profit taking which has put some pressure on the exchange rate, the weakening of the US dollar index under the influence of dovish Federal Reserve meeting minutes and the speech of the new US Treasury Secretary Stephen Nuchin is also an important factor in pressuring the exchange rate to fall. In addition,crude oilThe unexpected decline in US crude oil inventories has also put some pressure on the exchange rate as prices rise. Follow Today1.3200Nearby pressure situation, supported below1.3000Near.