VT Markets:Gold recorded its best performance in 1
  Source:VT Markets 2022-12-28 11:56:01
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Just for"Export valuable Content"Facilitate trading decisionsFreedom of wealthlifeGold prices edged higher on Thursday, putting the metal on track for its best annual performance in a decade. Both houses of the UK Parliament have successfully passed the UK-EU trade deal, and the pound continued to hit its highest level against the US dollar since May 2018."Market inventory"- 01 -Best annual performanceGold edged higher on Thursday, on track for its best annual performance in a decade, as a weaker dollar offset pressure on the metal from comments from U.S. Senate Majority Leader Mitch McConnell. McConnell said a bill to increase the amount of coronavirus aid was unlikely to be approved by the Senate soon.【 Fundamentals 】Stimulus billU.S. President Donald Trump's request to increase the amount of COVID-19 relief for individuals to $2,000 has been blocked. U.S. Senate Majority Leader Mitch McConnell has refused to allow a quick vote on the bill, saying there is "no practical path for the Senate to quickly pass a vote on this bill."Annual reviewGold is up more than 24 per cent this year, its biggest gain since 2010, as unprecedented stimulus measures and low interest rates to insulate economies from the coronavirus have boosted the metal's appeal as an inflation hedge and safe haven.Trend of the dollarOn Thursday, the U.S. dollar fell slightly to hit its lowest level since April 2018, further boosting gold's appeal to holders of other currencies.Epidemic reportA highly contagious variant of the coronavirus originating in the UK continues to spread around the world, with California reporting its first confirmed case of the mutated virus.Vaccine dynamicsBritain on Wednesday became the first country to approve a vaccine jointly developed by Oxford University and Astrazeneca in a bid to help stem the rapidly spreading coronavirus outbreak.Uk-eu agreementBritish lawmakers on Wednesday approved Prime Minister Boris Johnson's post-Brexit trade deal with the European Union. Just days before Brexit becomes a reality, both sides are looking forward to opening a new chapter in their relationship.02 -Four issues remain to be resolvedAccording to CCTV, on the 30th local time, according to the BBC, the House of Commons of the British Parliament voted 521 votes in favor and 73 votes against.By a whopping 448 votes,In line with market expectations. British Prime Minister Boris Johnson also signed the UK-EU Trade and Cooperation Agreement, which has just been flown from Brussels to London.At 7:35 on the 31st Beijing time, the British House of Lords approved the Brexit trade agreement signed by British Prime Minister Johnson.Speaking to lawmakers before the debate in Parliament, Johnson said Britain was "starting a new chapter." At the same time, he stressed that the purpose of Brexit is not to sever ties with the EU, but to propose a new settlement for UK-EU relations.After being approved by both houses of Parliament, the agreement now goes to the Queen for signature, after which the bill will become legislation, ensuring that legislation is passed before the end of the transition period at 23:00 on Thursday (7am Friday). The agreement can take effect from January 1 next year.On Wednesday, December 30,The EU has also formally approved the UK-EU trade deal.European Council President Charles Michel and European Commission President Ursula von der Leyen signed the UK-EU Trade and Cooperation Agreement in Brussels.On Thursday, the British pound continued to hit a new high against the US dollar since May 2018, trading at 1.3645, spurred by the news that Britain's orderly Brexit from the European Union was finalized and the second novel coronavirus vaccine was approved on schedule. With the dollar weakening across the board,GBP/USDHas been moving higher, fully reversing the "sell the facts" losses following last week's Brexit deal.Everything seemed to be going smoothly, but, as EU officials pointed out in the days after the deal was struck, it was not over. And, as more than one British official has pointed out, British businesses could be in for a rough ride"Bumpy Road"(Especially in financial services).What's more, the final vote on the agreement does come with a number of issues still pending that could affect the deal before or after the vote.Fair competitionFirst, fair competition is the thorniest issue in the negotiations.In terms of fair competition, the Brexit agreement stipulates that economic disputes can be appealed to third-party arbitration, and the UK does not have to fully comply with the EU judicial system, but if the EU can prove that the UK's behavior distorts fair competition, it can still impose corresponding tariffs on the UK and accept arbitration.This means that the dispute settlement mechanism between the UK and the EU is far from complete.Members of the Conservative Party have called on the prime minister to seize the opportunity to free Britain as much as possible from the shackles of the EU justice system.The agreement also contains a clause that allows either side to periodically renegotiate that part of the agreement if it is not satisfied with the treaty. So if the UK or the EU decide that the trade deal is unworkable, it could still collapse in the future.financeThe UK did not get everything it wanted to secure on financial services, the agreement did not allow UK financial firms to provide financial services to the EU market,This means that the agreement does not include commitments on market access.British Prime Minister Boris Johnson said that in the area of financial services, the agreement may not go as far as it would like.British finance Minister Peter Sunak said on SundayThe Treasury will continue discussions with the EU on access and equivalence conditions for financial services in 2021 as an urgent priority for the negotiation of the MOU with the EU.Fishery industryThe Brexit trade deal provides for a five-and-a-half-year transition period for the fishing industry, during which British vessels will receive a 25 percent share of what EU vessels catch in UK waters, but the UK had previously requested an 80 percent share.The agreement gives Britain and the EU the right to impose tariffs on each other's fish if they can prove that any future reduction in access to waters would cause economic or social harm.The British domestic fishing industry generally expressed dissatisfaction with the British compromise. The fishing industry is one of the main points of contention between the UK and the EU, and British fishermen have said they will force the UK government to take a hard line in the next negotiations.Sovereignty issueFinally, Britain and the EU have yet to reach an agreement on the Strait of Gibraltar.Gibraltar is a disputed territory between Britain and Spain, and the issue of Gibraltar's border with Spain remains after Brexit. About 15,000 workers transit through Gibraltar every day, and the crossing could be even more difficult without a deal, which could lead to long queues for commuters and potentially serious economic disruption.With the deal in place, although the risk of a hard Brexit that had previously been feared by markets has been completely removed - David McAllister, head of the European Parliament's UK coordination group, said in an interview that the deal meant "certainty and clarity" for businesses and people.However, when it comes to specific terms, the two sides still need to continue to mediate in the future, and there are still many risks ahead.Risk early warning★ Economic data and reportsToday at 17:00The British Parliament is debating and voting on the Brexit trade deal negotiated by Prime Minister Boris Johnson's government with the European Union.9:00 todayChina will release its official manufacturing PMI for December21:30U.S. initial jobless claims for the week ending Dec. 26 are expected to rise from 803,000.