Crude Oil Plummeted 5%, the Dollar Stopped Falling and Turned Up

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Market News Crude Oil Plummeted 5%, the Dollar Stopped Falling and Turned Up

Markets News

Crude Oil Plummeted 5%, the Dollar Stopped Falling and Turned Up

TOPONE Markets Analyst

2022-12-07 09:30:00

Hot spot tracking

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Russia accuses Ukraine of attacking third Russian airport

Atlanta Fed GDPNow model raises U.S. fourth-quarter GDP forecast

Product Hot Comment

Forex

As of 08:00 (GMT+8), the U.S. dollar index rose 0.257% to 105.52, EUR/USD rose 0.059% to 1.04676; GBP/USD fell 0.001% to 1.21321; AUD/USD rose 0.048% to 0.66936; /JPY fell 0.008% to 136.901.

📝 Review:The dollar edged higher against the euro and yen on Tuesday, as U.S. stocks sold off as investors tried to prepare for an expected rate hike by the Federal Reserve next week.

🕵️ Operation suggestion:long EUR/USD at 1.04673, with a target price 1.05932
Gold

As of 08:00 (GMT+8), spot gold fell 0.005% to $1770.88/oz, and spot silver fell 0.032% to $22.160/oz.

📝 Review:Gold prices edged higher on Tuesday, as the dollar pared some of its recent gains and U.S. Treasury yields retreated as traders awaited further clues on the Federal Reserve's strategy for raising interest rates. Spot gold rose 0.1% to $1,769.42 an ounce, stuck in a tight range.

🕵️ Operation suggestion:long at 1770.90, the target price is 1805.34
Crude Oil

As of 08:00 (GMT+8), WTI rose 0.134% to $74.679/barrel; Brent fell 3.954% to $79.738/barrel.

📝 Review:U.S. crude futures settled at their lowest level so far this year in choppy trade on Tuesday, with Brent crude futures settling below $80 a barrel for the second time this year, as investors pulled out of the volatile market amid economic uncertainty.

🕵️ Operation suggestion:go short at 74.707, the target price is 73.658
Indice

As of 08:00 (GMT+8), the Nasdaq index fell 1.962% to 11546.050 points; the Dow Jones index fell 1.078% to 33582.8 points; the S&P 500 index fell 1.446% to 3939.700 points.

📝 Review:U.S. stocks ended lower on Tuesday, with the S&P 500 falling for a fourth straight session, as investors jittered over a rate hike by the Federal Reserve and more talk of an impending recession. Energy, social media and semiconductor sectors generally fell, and Meta Platforms closed down 6.8%.

🕵️ Operation suggestion:go short Nasdaq index 11546.000 position, target price 11372.500