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Market News Gold Hits Highest Since August as Fed Slowdown Hits Dollar
Markets News
Gold Hits Highest Since August as Fed Slowdown Hits Dollar
TOPONE Markets Analyst2022-12-02 19:30:00
Hot spot tracking
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Product Hot Comment
ForexAs of 17:00 (GMT+8), the U.S. dollar index fell 0.172% to 104.46, EUR/USD rose 0.282% to 1.05405; GBP/USD rose 0.237% to 1.22650; AUD/USD rose 0.261% to 0.68314; / Yen fell 0.531% to 134.604.📝 Review:Barr, the Fed's vice chairman in charge of financial supervision, said that it may shift to a slower pace of interest rate hikes at the next meeting, and that a 50 basis point increase in interest rates is reasonable. The Fed's third leader and New York Fed President Williams said that the federal funds rate needs to be much higher than the inflation level, and it will take several years to reach the inflation target.🕵️ Operation suggestion:long EUR/USD at 1.05388, with a target price 1.05745.
GoldAs of 17:00 (GMT+8), spot gold fell 0.034% to $1802.18/oz, and spot silver rose 0.299% to $22.791/oz.📝 Review:The international gold price fell back from the intraday high of 1804.34 US dollars per ounce since August 10. Although the U.S. dollar continued to weaken due to expectations of a slowdown in the pace of Fed rate hikes, hitting a new low of 104.563 since June 29, investors remained cautious ahead of the U.S. November non-farm payrolls report. Weaker wages or non-farm payrolls would point to further declines in the dollar, which should be further bullish for gold.🕵️ Operation suggestion:go long at 1802.29, and the target price is 1808.80.
Crude OilAs of 17:00 (GMT+8), WTI fell 0.151% to $81.196/barrel; Brent rose 0.016% to $87.061/barrel.📝 Review:Negotiations in the European Union over a cap on Russian oil prices will continue today. EU diplomats said EU governments had tentatively agreed to a price cap of $60 a barrel for Russian seaborne oil, pending a decision from Poland. G7 officials said the Russian oil price cap would be adjusted based on a range of factors, including market prices, which could rise or fall.🕵️ Operation suggestion:go short at 81.266 , target price 77.598.
IndiceAs of 17:00 (GMT+8), Taiwan's weighted index fell 0.147% to 14897.7 points; the Nikkei 225 index fell 0.914% to 27745.0 points; Hong Kong's Hang Seng Index fell 0.621% to 18701.2 points; Australia's S&P/ASX200 index It fell 0.237% to 7318.85 points.📝 Review:The weighted index of Taiwan stocks closed at 14970.68 points, down 42.12 points, or about 0.28%, with a turnover of NT$223.099 billion. TSMC (2330) was weak today. It closed at 492.5 yuan, down 6 yuan, and its market value shrank by 155.5 billion yuan, falling to 12.77 trillion yuan. It affected the broader market by about 50 points. TSMC’s stock price fell by 5.5 yuan this week. Hon Hai (2317) performed relatively strongly, closing at 105.5 yuan, up 2.5 yuan.🕵️ Operation suggestion:short The Taiwan weighted index is at 14896.7, the target price is 14383.5.
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