Will "Super Moment" Be A Golden Day?

Here world Clothing and shoes The Xiaobian of the network introduces Yellen's "super moment" gold or "changing day".

On Thursday (November 13th), in the early morning of Asian market, international spot gold traded at 1159.51 US dollars / ounce. After several days of scramble for competition, it seemed that the market had a certain balance. The British inflation report showed that the British GDP and low inflation in the future were low. Although the US dollar index did not rise much, it still maintained its strong characteristics. Before the dollar index changed, gold would hardly open its way of rebound.

Fed officials' hawkish speech foreshadowed Yellen's speech tomorrow morning.

At 01:45 a.m. on Friday morning in Beijing, Yellen, the chairman of the Federal Reserve (FED), will deliver a speech in Washington at a meeting jointly organized by the European Central Bank, the Federal Reserve Board and the New York Federal Reserve, 01:45.

Philadelphia, USA Federal Reserve President Proso believes that policymakers should associate interest rates with economic data instead of setting specific dates.

Mr Proso reiterated in his speech that the Fed should continue to adjust its policy statement to prepare the financial market for the possibility of tightening monetary policy earlier.

Proso is a member of the Fed's official who supports the increase in interest rates by mid 2015. He will leave office next March. Many of his colleagues and investors expect the Federal Reserve to take action at this time.

Earlier Fisher, the US Federal Reserve Chairman of Dallas, told the media that if the Fed waited too long to raise interest rates, it could lead to a recession in the US economy.

Fisher believes that if the Fed increases interest rates too late, inflation and the economy will react sharply, thereby dragging the US economy into the next round of recession.

Fisher also said that the rise in interest rates in the US may be earlier than market expectations. It is expected that the US interest rate increase will happen next summer, but he thinks it may be earlier, but his expectations may also go wrong.

Yellen, chairman of the Federal Reserve, pointed out last Friday that the central bank needs to use all available tools to solve the problem of low growth and inflation below targets. She said that when the global recovery is slow, support policies are still needed. Normalization of monetary policy may lead to intensified volatility in financial markets, and normalization of monetary policy will become an important signal for recovery.

Although the Fed expressed concern about the strong dollar in the minutes of the Federal Reserve meeting in September, a number of Fed officials tried to intervene orally, but this did not prevent the US dollar index from rising. The euro area and the UK's poor economic outlook were still the main reason for the rise of the US dollar. Of course, the easing of the yen also largely boosted the US dollar index.

Bank of England lowered inflation expectations + Draghi loose remarks to boost the US dollar index

The Bank of England (BOE) on Wednesday in the quarter inflation The report lowered its forecast for UK growth and inflation, suggesting that the central bank is unlikely to raise interest rates by the second half of next year.

The inflation report shows that the policy makers headed by President Carney (Mark Carney) lowered their growth expectations for the UK economy in 2015 and 2016 from 3.1% and 2.8% in August to 2.9% and 2.6% respectively, and still expect 3.5% growth in 2014.

Analysts pointed out that the wording of the Bank of England's quarterly inflation report is no doubt more dovish than before, which is basically what we had expected before.

After the Bank of England lowered its inflation and economic growth expectations, the first time to raise interest rates will be pushed back to the second half of 2015. This means that the pace of interest rate increase of the Bank of England will also be slower than that of the Fed. The policy interest rates of the United States and Britain may also hang upside down for a certain period of time, which is also very unfavorable for the future of the medium and long term trend of the pound.

Delaki also reiterated a relaxed stance overnight. The European Central Bank will maintain interest rates at a low level and is prepared to adopt further unconventional easing measures when inflation expectations fail to recover.

Delaki demonstrated this position at a meeting in Rome, Italy, which said that the European Central Bank has implemented a fairly low interest rate policy and measures to expand the scale of its balance sheet, which has created an unprecedented monetary easing environment in the euro area.

Delaki believes that the ECB will take further unconventional easing measures once the euro zone's mid inflation expectations deteriorate, or the easing measures already implemented are proved to be null and void.

There are different voices in the market. Kocherlakota, the Fed's worried about the prospect of inflation, said it was inappropriate to raise interest rates in 2015.

Minneapolis Fed chairman Kocherlakota (Narayana Kocherlakota) said on Wednesday (November 12th) that he was worried that the decline in inflation expectations would push down the already low inflation rate and make the Fed more difficult to help the economy recover.

He said that because inflation was already too low, the Fed should expand asset purchases last month instead of ending it. Kocherlakota cast the only objection at the October policy meeting.

Mr kolschkolta expects inflation to rise to 2% of the Fed's target by 2018, and urges its colleagues to postpone raising interest rates until they are confident that inflation will reach its goal in one or two years.

At the same time, he said that even if the Fed tightened policy, short-term interest rates could only rise to 3.25%, far below the normal level of 4%.

As of 9:23 Beijing time, the international spot gold price was quoted at 1158.16 US dollars / ounce.