English
[Market Evening] The Market Is Expected to Hit a 41-year High, Has It Peaked?
The United States may usher in the hottest inflation data. On the 13th local time, the U.S. Department of Labor is about to announce the consumer price index (CPI) for June. The market expects that the index will rise by 8.8% year-on-year, higher than the previous value of 8.6%, and continue to hit a new high in 41 years since 1981. The month-on-month increase was 1.1%, compared with the previous value of 1%.
As of 17:00 (GMT+8), spot gold rose 0.021% to $1726.17/oz, and spot silver rose 0.196% to $18.938/oz.
Comment: The international gold price maintained a slow downward trend, hitting a new low of $1,722.38 per ounce since the end of September 2021. Investors cautiously awaited U.S. inflation data for fresh clues on the outlook for the Federal Reserve's monetary policy. But barring a major surprise, the CPI data is likely to condense investors' expectations for another 75 basis point rate hike from the Fed this month.
Suggestion: short spot gold at 1726.60, and the target point is 1716.00.
As of 17:00 (GMT+8), the US dollar index rose 0.093% to 108.09, EUR/USD fell 0.061% to 1.00281; GBP/USD fell 0.019% to 1.18813; AUD/USD rose 0.300% to 0.67792; USD /JPY was up 0.239% at 137.134.
Comment: The euro pays close attention to the market's momentum in trying to find a parity of 1.0000, and should pay careful attention to the risk of oversold adjustment and turning. If the positive line can be closed within the day, it is expected that there will be an adjustment market in the short term. Otherwise, once it falls below parity, the bottom will continue to approach the historical record low.
Suggestion: short EUR/USD at 1.00320, target point 1.00040.
As of 17:00 (GMT+8), WTI rose 1.455% to $94.729/barrel; Brent rose 1.732% to $98.818/barrel.
Comment: The international oil price rebounded after refreshing the low since mid-April, and before the release of the US inflation data in June, the market attitude tends to be cautious. While lingering recession fears continued to be bearish for oil markets, global oil inventories limited downward momentum in prices. The International Energy Agency stressed that strong policy intervention in energy use is needed, otherwise the world economic recovery will be at risk.
Suggestion: Go short at the 95.980 position of US crude oil, and the target point is 91.500.
1. Buterin defends the merger of Ethereum: PoS mechanism assets are not securities;
2. The New York court has frozen the remaining assets of Three Arrows Capital in the United States;
3. Line Next, an NFT subsidiary of Line, completed a strategic financing of US$10 million, with participation from SoftBank and Hashed;
4.Celsius repaid about 8.4 million USDC to Aave and got back about 10,500 stETH;
5. President of the Bank of France: The first phase of the wholesale digital euro experiment has been completed, and the second phase will begin this year;
6. The Sandbox opens asset creation function;
7. American bakery giant Hostess releases new limited-edition products themed on cryptocurrency;
8. BlockFi: GBTC may still be accepted as collateral in the future.
The Taiwan Weighted Index rose 0.040% to 14,288.8 points;
The Nikkei 225 rose 0.104% to 26,470.0 points;
Hong Kong's Hang Seng Index fell 0.053% to 20841.0 points;
Australia's S&P/ASX 200 rose 0.174% to 6,625.35.
20:30(GM+8):
US June CPI annual rate not seasonally adjusted (%)
U.S. core CPI annual rate in June not seasonally adjusted (%)
22:00(GM+8):
Bank of Canada overnight lending rate on July 13 (%)
22:30(GM+8):
Changes in U.S. EIA crude oil inventories for the week ended July 8 (10,000 barrels)
Changes in U.S. EIA refined oil inventories for the week ended July 8 (10,000 barrels)
Changes in U.S. EIA gasoline inventories for the week ended July 8 (10,000 barrels)
U.S. EIA weekly crude oil imports for the week ended July 8 (10,000 barrels)
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