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The War between Southern and Northern EU| KOL Forex Analysis•Jasper Lo
Abstract：Although EU member countries tried to hold one more summit, they still failed to reach the agreement on recovery funds for assisting weak countries in northern European. Charles Michel, President of the European Council, also said that the summit is expected to be failed again, but they will take every effort to finish “the impossible task” and the agreement may not be reached until the related meeting arranged in August.
Although EU member countries tried to hold one more summit, they still failed to reach the agreement on recovery funds for assisting weak countries in northern European. Charles Michel, President of the European Council, also said that the summit is expected to be failed again, but they will take every effort to finish “the impossible task” and the agreement may not be reached until the related meeting arranged in August.
Besides frugal four countries, including Netherlands, Sweden, Denmark and Austria, Finland started to reject to the 750-billion-euros recovery funds. Giuseppe Conte, Prime Mister of Italy which needs the assistance blame the five countries for extortion. The objection of Mark Rutte, Prime Minister of the Netherlands, along with other four counterparts, reflects the will of voters in these countries. The next general election of the Netherlands will be held in March, 2021, so Mark Rutte shows strong attitude about the increasing aggression from extremely right and brexit parties.
Though the EU has reduced the funds to 400 billion euros, Mark Rutte insisted that the related funds should be controlled below 350 billion euros. From the financial market last week came the news that the tough frugal five countries will adapt a moderate attitude to reach related plans, which supports well the exchange rate of euro. Unfortunately, the plan of recovery funds still havent been passed yet. And a reduced plan with 350-400 billion euros is likely to be passed in August, which can be reflected from the recent recovery of euro exchange rate. If the plan will be approved or not will not affect the euro much.
On the contrary, there was still no plan passed in the past two-month negotiation, which shows the fact that the financial market is extremely concerned about the future operation of the EU, faced with the serious divergence between North and South Europe. In addition, the trade negotiation between the EU and UK hasnt made any progress, thus no matter the internal revitalization plan, recovery funds or trade negotiation with the UK, these all put the EU under a difficult circumstance. Therefore, I still believe that the recent rise of euro and pound will come to an end.
[About The Author]
Since 1987, Jasper Lo has been engaged in the financial industry
(forex, futures and gold) for more than 32 years and holds forex R.O.,
securities and futures broker licenses. Mr Lo is an expert in trading
forex, precious metals and commodity futures and an basic and technical
analyst.
Over the years, Mr Lo won many individual and team sales champion
awards, as well as outstanding employee awards. He was invited, as a
guest mentor, to the University of Hong Kong, Guangdong Ocean University
and Guangzhou Jinan University. And he was also appointed as the chief
training consultant by Hantang Securities and Dongguan Securities in
China.
Mr Los experience as guest of honor invited by media including Chinese and English newspapers and columnist:
-Guest of honor invited by TVB New Channels such as Finance Channel, Forex Focus, Global Watch
-Guest of honor invited by Now Finance Channel - Forex Reports
-Guest of honor invited by i-CABLE Finance Info Channel - Forex Opportunities
-Guest of honor invited by ViuTV - Investor Smarter Group
-Columnist of Finance and Forex Market of Ming Pao
-Presenter of Finance and Forex Forecast of Ming Pao
-Presenter of Investment 36 Stratagem and Technical Analysis in 1 Min of Ming Bao Finance
-Appointed lecturer of Ming Pao Investment Seminar and Paid Course
-Author of the best seller Investment 36 Stratagem
-Columnist of Forex Expert, Forex Analyst, Marathon Weekly of ET Net
-Guest of honor of Open Good Morning of ET Net
-Guest of honor of Metro Finance Channel - Market Opening, Instant
Market Fighting, Guangdong-Hong Kong Finance, Finances Power, Market
Analysis
-Guest of honor of New Era of Investment of RTHK
-Columnist of Capital Commodities of Capital Weekly
-Guest Presenter of Wang Guanyi Online Finance Channel - Fund and Commercial Bond
-Columnist of Wealthub Finance and Investment Smart Platform of Enrich Culture
-Guest presenter of Weekly Investment in the World of Enrich Culture
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Prices of precious metals have been rising on the weak DXY since March and even soared in July, wherein silver and gold crowned the best performers with the biggest monthly gains in the decade. Prices of spot gold increased by 11.25% in July while spot silver even picked up 36.40%. Although palladium and platinum swelled 7.95% and 9.22% respectively, it is notable that platinum spot prices have been remaining stable since the beginning of this year, rather than seeing aggressive growth as other three precious metals.
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