Spot Gold Broke Through 1950, Crude Oil Fell More Than 3%

Market News

Hot spot tracking

Fed raises interest rates by 25 basis points as scheduled, hints at further tightening at next meeting

U.S. ISM manufacturing PMI falls for fifth straight month in January

U.S. "small non-agricultural" in January is significantly worse than expected

Product Hot Comment

Forex

EUR/USD rose 0.235% yesterday to 1.10140; GBP/USD rose 0.137% yesterday to 1.23908; AUD/USD rose 0.188% yesterday to 0.71510; USD/JPY fell 0.260% yesterday to 128.602; GBP/CAD fell 0.049% yesterday to 1.64364; NZD/CAD fell 0.032% yesterday to 0.86416.

📝 Review:The dollar extended losses on Wednesday, falling to nine-month lows against a basket of currencies after Federal Reserve Chairman Jerome Powell spoke of progress in reducing inflationary pressures, but the central bank still warned of further monetary tightening.

🕵️ Operation suggestion:go short USD/JPY 128.647, target price127.265.
Gold

Spot gold rose 0.186% yesterday to $1953.78/oz; Spot silver rose 0.288% yesterday to $24.018/oz.

📝 Review:Spot gold rallied sharply on Wednesday after a surprise dovish statement from Federal Reserve Chairman Jerome Powell on the fight against inflation sent the dollar lower and signaled to investors that peak interest rates may be near.

🕵️ Operation suggestion:go long at 1953.17, the target price is 1961.78.
Crude Oil

WTI crude oil rose 0.324% yesterday to $77.055/barrel; Brent crude oil fell 2.911% yesterday to $82.916/barrel.

📝 Review:Oil prices ended lower on Wednesday, falling more than $3 at one point during the session, after U.S. government data showed that inventories of crude oil, gasoline and distillates all rose sharply, while OPEC+ kept its output policy unchanged.

🕵️ Operation suggestion:go short at 77.002, the target price is 76.259.
Indice

The Nasdaq index rose 3.209% yesterday to 12444.500; The Dow Jones index rose 0.002% yesterday to 34068.8; The S&P 500 rose 1.408% yesterday to 4126.950.

📝 Review:U.S. stocks rose to daily highs in late trading, with the Dow closing up 0.02%, the Nasdaq closing up 2%, and the S&P 500 closing up 1.08%. Semiconductors and popular Chinese concept stocks were among the top gainers, while the oil and gas sector generally fell. AMD closed up 12.6% after the results, and Baidu closed up nearly 13%.

🕵️ Operation suggestion: go long the Nasdaq index at 12493.400, the target price is 12566.400