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Market News Dollar Pullback in Expectation of Poor Non-Farm Payrolls
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Dollar Pullback in Expectation of Poor Non-Farm Payrolls
TOPONE Markets Analyst2022-11-04 19:30:00
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ForexAs of 17:00 (GMT+8), the US dollar index fell 0.292% to 112.51, EUR/USD rose 0.241% to 0.97715; GBP/USD rose 0.520% to 1.12149; AUD/USD rose 0.749% to 0.63374; USD /JPY fell 0.175% to 147.896.📝 Review:The dollar rose against major currencies on Thursday after Federal Reserve Chairman Jerome Powell said U.S. interest rates could peak higher than market expectations. Sterling fell on Thursday after the Bank of England raised interest rates but warned that the "prospect is very challenging". Sweden's Nordic Bank has warned that Europe is still facing gas shortages this winter. The energy crisis and recession risks continued to weigh on the euro.🕵️ Operation suggestion:short EUR/USD is at 0.97736, target price 0.97014.
GoldAs of 17:00 (GMT+8), spot gold rose 1.037% to $1646.06 an ounce, and spot silver rose 1.363% to $19.716 an ounce.📝 Review:International gold prices rose, as the US dollar index fell slightly, easing the pressure from the Fed's aggressive hawkish policies. Investor focus now shifts to the upcoming US non-farm payrolls data for October at 20:30 Taiwan time. While it's appropriate to expect the dollar to peak, the market likely hasn't gotten there yet.🕵️ Operation suggestion:go short at 1646.11, the target price is 1628.46.
Crude OilAs of 17:00 (GMT+8), WTI rose 2.459% to $89.461/barrel; Brent rose 2.177% to $96.996/barrel.📝 Review:The German Chancellor's visit to China and other factors helped A-shares soar to a new high in nearly two weeks, which improved the outlook for crude oil demand and provided a rise in oil prices, and a slight drop in the dollar also provided support for oil prices. The technical side is also slightly in favor of the bulls, and the oil price is expected to shock upside.🕵️ Operation suggestion:go long at 89.393, target price 90.305.
IndiceAs of 17:00 (GMT+8), the Taiwan Weighted Index rose 0.807% to 12986.9 points; the Nikkei 225 Index fell 0.300% to 27187.1 points; Hong Kong's Hang Seng Index rose 4.611% to 16166.7 points; Australia's S&P/ASX200 Index It rose 0.710% to 6890.45 points.📝 Review:The focus of today's disk is the shipping group. The three container giants, Evergreen, Wanhai and Yangming, rose 1.22 to 2.96%. The aviation duo, China Airlines, rose more than 5%. Evergreen rose about 7%. Xinxing, Yumin, Zhixin, and China Airlines rose 1%. to 4%. In addition, tourism and travel stocks were red, with Wangpin up 6.02%, Asian Tibetan Sushi, Bay, Xiongshi, Liujiao, and Fuye up more than 1%, and Gourmet-KY, Phoenix, up more than 2%. The performance of biotechnology and medical care was also eye-catching. High-end vaccines and Kia soared by their daily limit, Taijing-KY rose by about 1%, ABC-KY, Jingshuo, Heyi, and Essence rose by 0.6% to 3%.🕵️ Operation suggestion:short the Taiwan Weighted Index at 12986.9, with the target price at 12725.5.
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