We recently noticed that some third-party companies and individuals impersonated the TOPONE Markets brand and illegally misappropriated our trademarks.

We Hereby Reiterate Our Statement:

  • TOPONE Markets does not provide discretionary account operation trading services, nor does it cooperate with other third-party vendors and/ or agents to provide such services.
  • TOPONE Markets staff will not promise to our customer the definite profit, please do not trust any kind of the profit promise or profit related picture, such as screenshot/ chat history, etc, all investment profit can be only viewed on our official website and application.
  • TOPONE Markets is a professional online trading platform with low spreads and zero handling fees. Be wary of any behavior that asks you for any fees directly and privately. TOPONE Markets does not charge a fee at any stage of its trading process or other fee.

If you have any questions or concerns, please feel free to reach us by clicking the "Online Customer Support" or send an email to our customer care team cs@top1markets.com. We will answer your questions and assist you promptly.

Understood
We use cookies to learn more about how you use our website and what we can improve. Continue to use our website by clicking "Accept". Details
This website does not provide services to residents of United States.
Market News [Market Morning] White House "Announces" that Inflation May Rise, Gold Remains In a Narrow Range

[Market Morning] White House "Announces" that Inflation May Rise, Gold Remains In a Narrow Range

U.S. stocks turned down intraday, the Dow closed flat, Meta fell more than 5% to hit a new low in a year and a half, its market value shrank by a third in three days, and its sector fell more than 2% to lead the decline in the S&P; Peloton rose more than 20%; Ali fell by more than 6%, and TAL rose by more than 4%. The pan-European stock index came out of a more than one-week trough, the tourism sector rose more than 3%, and the copper giant Aurubis rose more than 3%. The 10-year U.S. Treasury yield turned lower after hitting another two-year high during the session, and German bond yields hit a three-year high and once turned lower.

TOPONE Markets Analyst
2022-06-09
443

Group 1000002198.png


Group 1000002188.png

Spot gold fluctuated around 1850 on Wednesday, closing up 0.07% at $1853.24 per ounce; spot silver fell slightly, falling below the $22 mark during the session, and finally closed down 0.7% at $22.05 per ounce.


Comment: Spot gold rebounded from lows as the U.S. dollar index rose and fell; both fell into shock mode. Investors await the upcoming U.S. inflation data for further insights into the prospect of a rate hike by the Federal Reserve. Inflation levels are unacceptably high. The World Bank is calling on policymakers to work to boost food and energy production and avoid import and export restrictions that could lead to further price spikes.


Suggestion: long Spot gold at 1853.00, and the target point is 1874.70.


Group 1000002195.png

The U.S. dollar index remained high and fluctuated, closing up 0.176% at 102.57; the 10-year U.S. bond yield fluctuated higher to around 3.3%.


Comment: The 10-year U.S. bond yield turned down after hitting a new two-year high, and the German bond yield hit a three-year high and turned down for a while. The U.S. dollar index turned intraday lower near a more than the two-week trough.


Suggestion: short the euro against the dollar at 1.07170, and the target point is 1.06520.


Group 1000002189.png

Crude oil prices rose significantly after the announcement of EIA inventories. WTI crude oil closed up 2.45% at $123.22 per barrel; Brent crude oil closed up 2.32% at $125.72 per barrel.


Comment: Data released by the U.S. EIA showed that in the week ended June 3, the U.S. commercial crude oil inventories excluding strategic reserves increased more than expected, refined oil inventories increased more than expected, while gasoline inventories unexpectedly fell slightly. After the EIA data was released, U.S. crude oil prices shot up close to $1 in the short term.


Suggestion: long U.S. crude oil at 120.400, and the target point is 123.510.


Group 1000002196.png

In terms of the stock market, the three major U.S. stock indexes rose at the beginning of the session but maintained their decline after falling back in the session. The S&P 500 closed down 1.08% at 4115.77 points; the Dow closed down 0.81%, and the Nasdaq closed down 0.73%. Popular Chinese stocks Continuing the recent strong market, Alibaba closed up nearly 15%, Didi closed up 12%, and Pinduoduo closed up nearly 10%.


Comment: U.S. stocks turned down intraday, the Dow closed flat, Meta fell more than 5% to hit a new low in a year and a half, its market value shrunk by one-third in three days, and its sector fell more than 2% to lead the decline in S&P; Peloton rose more than 20% %; Ali fell by more than 6%, and TAL rose by more than 4%. Meta fell by more than 5%, dragging U.S. stocks down intraday, and the market value shrunk by one-third in three days.


Suggestion: go short at the 4120.000 positions of the S&P index, and the target point is 4050.380.


Group 1000002200.png


White House: Inflation data expected to rise this week


In terms of consumer prices, prices are expected to rise, the White House press secretary said. The Russia-Ukraine conflict is expected to have some impact on core inflation, particularly the impact of higher airfares and jet fuel costs.


10-year Treasury auction demand tepid


The U.S. Treasury Department auctioned $33 billion in 10-year Treasury bonds, and the winning rate was 3.030%, about a basis point higher than the pre-auction trading level; the bid-to-cover ratio was 2.41, the lowest level since November.


U.S. Cushing crude and gasoline inventories fell, SPR stocks fell for the 39th straight week


EIA data shows that the U.S. EIA crude oil inventories increased by 2.025 million barrels in the week to June 3; gasoline inventories decreased by 812,000 barrels; Cushing, crude oil inventories, decreased by 1.593 million barrels; Strategic Petroleum Reserve (SPR) inventories fell by 7.269 million barrels to 1987 It was the lowest since the week of March 27, 1982, and the decline was the largest since the week of August 20, 1982, marking the 39th consecutive week of decline.

Previous
Next

Bonus rebate to help investors grow in the trading world!

Need Assistance?

7×24 H

Download the APP for Free