[Market Evening] The Fed is Expected to Raise Interest Rates by Only 75 Basis Points on Thursday, and Gold Prices Are Expected to Continue to Rebound

As of 17:00 (GMT+8), spot gold rose 0.389% to $1724.02 an ounce, and spot silver rose 0.925% to $18.771 an ounce.

Comment: The international gold price rose slightly, but the gold market still lacks a clear trend in general because investors avoid excessive betting before the announcement of the Fed's key interest rate decision that may affect the trend of gold. The US Conference Board Consumer Confidence Index for July, released overnight, hit its lowest level since February 2021, with inflation and sharp interest rate hikes posing strong headwinds to consumer spending and economic growth. The Fed is trying to avoid runaway inflation without triggering a recession.

Suggestion: short spot gold at 1723.70, and the target point is 1720.00.

As of 17:00 (GMT+8), the US dollar index fell 0.168% to 106.87, EUR/USD rose 0.235% to 1.01414; GBP/USD rose 0.275% to 1.20606; AUD/USD rose 0.024% to 0.69441; USD /JPY fell 0.057% to 136.821.

Comment: Russia further cuts supply, adding to fears of a recession in Europe. The euro suffered a broad sell-off as there was more bad news on the energy supply front. EUR/USD opened down 1.0% and reached its lowest intraday price of 1.0108. EUR/USD closed below the 10-day moving average (1.0156) the previous day, which is now turning into resistance.

Suggestion: short EUR/USD at 1.01450, target point 1.00950.

As of 17:00 (GMT+8), WTI rose 0.751% to $95.425/barrel; Brent rose 0.837% to $100.253/barrel.

Comment: The sharp drop in API crude oil inventories has provided some support for oil prices, but concerns about a global economic recession and the Fed raising interest rates have made bulls scruples, and the release of strategic crude oil reserves in the United States as planned has also weighed on bulls' confidence. Investors pay attention to the EIA crude oil inventory data in the evening. From a technical point of view, the short-term is slightly biased towards the bears.

Suggestion: short US crude oil at 95.470; the target point is 92.250.

1. Harmony released the Horizon theft compensation proposal and plans to hard fork to increase the supply of ONE;

2. Nas Academy, a Web3 education startup, completed a $12 million financing, with participation from FTX Ventures;

3. Foreign media: FTX has been preparing to enter the Korean market since last year and has submitted two trademark applications in Korea;

4. Immutable Games Studio has fired several blockchain game designers;

5. Launch House, an entrepreneurial community, launched a $10 million Web3 fund;

6. ARK Ark Fund sold Coinbase and Robinhood stocks;

7. The Alameda address transferred over 177 million USDC to the FTX exchange within 24 hours;

8. Japanese IT giant GMO Internet launched the NFT domain name service.

The Taiwan Weighted Index rose 0.946% to 14856.1 points;

The Nikkei 225 rose 1.220% to 27792.0 points;

Hong Kong's Hang Seng Index fell 0.053% to 20,665.0 points;

Australia's S&P/ASX 200 rose 0.793% to 6,836.65.

20:30(GM+8):

US initial monthly rate of durable goods orders in June (%)

U.S. June wholesale inventory monthly rate initial value (%)

22:00(GM+8):

U.S. June seasonally adjusted existing home sales index monthly rate (%)

22:30(GM+8):

Changes in US EIA crude oil inventories for the week ended July 22 (10,000 barrels)

Changes in US EIA refined oil inventories for the week ended July 22 (10,000 barrels)

Changes in US EIA gasoline inventories for the week ended July 22 (10,000 barrels)

US EIA weekly crude oil imports for the week ended July 22 (10,000 barrels)