[Market Evening] The International Gold Price Exploded to 1870, and the Fed Took Aggressive Measures to Put Out the Fire

As of 17:00 (GMT+8), spot gold rose 0.389% to $1857.74/oz, spot silver rose 0.841% to $22.172/oz.

Comment: The international gold price rose as the U.S. dollar index weakened, hitting a new low of 101.429 on April 25. The market's expectations for the Fed to adopt a more aggressive monetary tightening policy declined. Gold prices are set to rise towards $1,870 on signs that the Fed may slow or even pause its tightening cycle in the second half. The minutes of the Fed's five policy meetings released this week emphasized that most participants supported continuing to raise interest rates by 50 basis points each at the June and July meetings. Still, policymakers were open to various policy options after July. The Fed has to grapple with how to reduce inflation without causing a recession or driving up unemployment significantly, which has proven to be a daunting task.

Suggestion: long spot gold at 1857.80, target point 1869.00.

As of 17:00 (GMT+8), the US dollar index fell 0.088% to 101.75, EUR/USD fell 0.009% to 1.07278; GBP/USD rose 0.071% to 1.26088; AUD/USD rose 0.551% to 0.71362; USD /JPY was up 0.054% at 127.156.

Comment: If the euro can break above the previous high of 1.0750, it can be expected to climb further, and the first resistance target above is 1.0800; GBP will continue to see the suppression of 1.263 in the short term, breakthrough and focus on 1.286-1.300, and pay attention to the support of 1.248 for retracement; USD It has rebounded against the yen but has not reversed the overall decline. If the strong support below 126.50 is completely broken shortly, the room for the downward decline will be greatly opened, and the key resistance above is still at 128.00;

Suggestion: short the euro against the dollar at 1.07340, and the target point is 1.08630.

As of 17:00 (GMT+8), WTI fell 0.124% to $113.027/barrel; Brent rose 0.103% to $114.268/barrel.

Comment: On the one hand, the U.S. ushered in the summer travel peak, and demand is expected to pick up. On the other hand, European Council President Michel said he is confident that an embargo on Russian oil will be reached before the next Council meeting on May 30. In addition, OPEC only agreed to increase production slightly as planned; the market's expectations of the Fed's overly aggressive interest rate hikes cooled, the dollar fell sharply, U.S. stocks rose sharply, and Asian and European stock markets followed suit, which also provided support for oil prices.

Suggestion: long  U.S. crude oil at 113.190, with a target point of 115.770.

1. Federal Reserve Vice Chairman: It may take five years to create a digital dollar;

2. OpenSea updates the website profile and NFT collection page;

3. JPMorgan uses blockchain for collateral settlement;

4. ARK Fund recently increased its holdings of nearly 30,000 Coinbase shares;

5. The blockchain API platform Transpose completed a $3 million financing, led by MaC Venture Capital;

6. The Central Provident Fund Board of Singapore recommends that NFTs be included in a diversified investment portfolio;

7. The Optimism Token contract is suspected to be being tested, and the O.P. airdrop application may be opened tomorrow;

The Taiwan Weighted Index rose 0.559% to 16229.8 points;

The Nikkei 225 fell 0.242% to 26847.0 points;

Hong Kong's Hang Seng Index rose 0.524% to 20704.0 points;

Australia's S&P/ASX 200 rose 0.229% to 7189.95.

20:30(GM+8):

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22:00(GM+8):

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The final value of the University of Michigan's current situation index in May.

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