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Market News Powell's Speech Consolidates Expectations for Slower Pace of Rate Hikes
Markets News
Powell's Speech Consolidates Expectations for Slower Pace of Rate Hikes
TOPONE Markets Analyst2022-12-01 19:30:00
Hot spot tracking
- Spokesman of the Russian Foreign Ministry: Russia will not supply oil to countries that support price caps.
- Fed's "Beige Book": Interest rates and inflation continue to weigh on economic activity
- EU Commission's services to conduct stress tests at Twitter headquarters in early 2023
Product Hot Comment
ForexAs of 17:00 (GMT+8), the U.S. dollar index fell 0.198% to 105.73, EUR/USD rose 0.055% to 1.04106; GBP/USD rose 0.278% to 1.20862; AUD/USD rose 0.121% to 0.67980; / Yen fell 1.067% to 136.524.📝 Review:The strong reliance of dollar strength on rising US yields means that the greenback will be forced to slide lower as US yields fall again, as has already happened against the backdrop of the latest US CPI inflation data. We expect the Fed to end its 5.00% tightening cycle in the first quarter of 2023 and begin its easing cycle down to 3.50% in 2024.🕵️ Operation suggestion:go long EUR/USD at 1.04095, target price 1.04921.
GoldAs of 17:00 (GMT+8), spot gold rose 0.435% to $1775.96/oz, while spot silver fell 0.442% to $22.067/oz.📝 Review:International gold prices strengthened for the third consecutive trading day, hitting a new high of $1,783.60 per ounce since November 16, as Fed Chairman Powell's speech strengthened market expectations for a slowdown in the Fed's interest rate hikes. However, the United States is facing long-term drags on labor supply caused by an aging population, early retirement of workers and weak immigration. The balance of the labor market can only be hoped for by the Federal Reserve policy.🕵️ Operation suggestion:go long at 1776.22, and the target price is 1786.91.
Crude OilAs of 17:00 (GMT+8), WTI fell 0.154% to $80.363/barrel; Brent rose 0.051% to $86.742/barrel.📝 Review:The overnight data line showed that EIA crude oil inventories recorded the largest drop since 2019, and the market's concerns about the Asian epidemic cooled down. Oil prices initially broke through the resistance of the 80 round mark, and the short-term bullish signal has strengthened.🕵️ Operation suggestion:go long at 80.360 position, the target price 81.454.
IndiceAs of 17:00 (GMT+8), Taiwan's weighted index fell 0.691% to 14924.1 points; the Nikkei 225 index fell 0.801% to 28163.5 points; Hong Kong's Hang Seng Index fell 2.196% to 18750.0 points; Australia's S&P/ASX200 index It fell 0.388% to 7334.25 points.📝 Review:U.S. stocks soared. Taiwan stocks jumped above the 10,000 mark at the opening today. Under the leadership of TSMC, the index once rose by more than 270 points, and then the gains converged. It closed at 15012.8 points, up 133.25 points. Keeping the 10,000 mark, TSMC challenged 500 yuan lost.🕵️ Operation suggestion:go short the Taiwan weighted index at 14920.6, and the target price 14723.8.
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