The Nasdaq Fell More Than 3%, Spot Gold Plummeted by More Than $30

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Market News The Nasdaq Fell More Than 3%, Spot Gold Plummeted by More Than $30

Markets News

The Nasdaq Fell More Than 3%, Spot Gold Plummeted by More Than $30

TOPONE Markets Analyst

2022-12-16 09:30:00

Hot spot tracking

The European Central Bank raised interest rates by 50 basis points and began to shrink its balance sheet in March next year

Bank of England raises interest rate to 3.5%, expects further hikes to come

U.S. 'horror data' hits biggest month-on-month drop in nearly 11 months

Product Hot Comment

Forex

As of 08:00 (GMT+8), EUR/USD rose 0.093% to 1.06364; GBP/USD rose 0.091% to 1.21882; AUD/USD rose 0.055% to 0.67075; USD/JPY fell 0.012% to 137.744 .

📝 Review:The U.S. dollar surged on Thursday, gaining strongly against the yen, sterling and commodity currencies, as investors worried that the Federal Reserve may continue to raise interest rates next year and lead to the risk of recession. The dollar's appeal has increased amid a sharp sell-off in equities that has soured risk appetite.

🕵️ Operation suggestion:long EUR/USD at 1.06386,target price 1.07390
Gold

As of 08:00 (GMT+8), spot gold fell 0.010% to $1776.38/oz, and spot silver fell 0.113% to $23.038/oz.

📝 Review:Gold prices fell as much as 2 percent on Thursday, hitting their lowest in about a week, while the dollar climbed after the Federal Reserve said it would raise interest rates further next year. Spot gold fell 1.6 percent to $1,777.88 an ounce, having fallen as low as $1,771.89 earlier.

🕵️ Operation suggestion:long at 1776.67, the target price is 1808.25
Crude Oil

As of 08:00 (GMT+8), WTI fell 0.144% to $76.236/barrel; Brent fell 1.553% to $81.529/barrel.

📝 Review:Oil's recent rally has lost steam as risk aversion rapidly intensifies as the risk of a global recession rises after another round of strong policy tightening by central banks.

🕵️ Operation suggestion:go short at 76.208, the target price is 73.701
Indice

As of 08:00 (GMT+8), the Nasdaq index rose 0.017% to 11345.200 points; the Dow Jones index rose 0.057% to 33175.9 points; the S&P 500 index rose 0.057% to 3893.700 points.

📝 Review:U.S. stock indexes closed sharply lower on Thursday, with all three major indexes posting their biggest one-day percentage losses in weeks, as concerns grew that aggressive rate hikes by the Federal Reserve could lead to a recession.

🕵️ Operation suggestion:short Nasdaq index at 11354.200, target price 11277.900