The issue of negative interest rates is lingering!
Although the Governor of the Bank of England stated last week that he had no intention to track the ECB or the Bank of Japan to take a negative interest rate policy, the Governor of the Bank of England cannot completely rule out the possibility of negative interest rates. The Central Bank of New Zealand even threatened to exclude the possibility of negative interest rates. As for the Chairman of the Federal Reserve Board, Powell also firmly denied the possibility of negative interest rates, but as seen from the interest rate futures market last week, the market is expecting the Federal Reserve to have a negative interest rate opportunity, although this opportunity is still very small for the time being. On Tuesday, Powell will attend the hearing of the US Congress. The market is concerned about whether his views on negative interest rates will give the market new inspiration.
Gold prices and oil prices have a chance to rise
This week (May 18 to May 24) economic data is mainly concentrated on the initial value of PMI in various countries. The speech of Fed officials is still the focus. Although the negative interest rate is expected to cool down, it does not rule out the use of other loose tools, which will likely further Push up the price of gold. In addition, the oil market rebounded sharply last week. In the context of production reduction and demand recovery, the influence of inventory data has risen and it deserves further attention.
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