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Market News The Dollar Hit A Three-Week Low, Gold Rose Above 1660 Intraday, And European And American Stock Markets Continued to Rebound
Markets News
The Dollar Hit A Three-Week Low, Gold Rose Above 1660 Intraday, And European And American Stock Markets Continued to Rebound
TOPONE Markets Analyst2022-10-26 09:30:00
Hot spot tracking
- EU member states agree on joint gas purchases
- IEA warns: world's first 'real' energy crisis
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Product Hot Comment
ForexOn Tuesday (October 25), the U.S. dollar index fell below the 111 integer mark for the first time since October 6, and closed down 0.991% at 110.89, a three-week low. GBP/USD rose as much as 2% and pushed above the 1.15 mark. The euro rose as much as 1% against the dollar, reaching parity for the first time since Oct. 5. USD/JPY fell below 148 intraday.📝 Review:Sterling rebounded to a six-week high on Tuesday as risk sentiment improved on Sunak's appointment as British prime minister, while the dollar fell to a three-week low as weaker U.S. economic data cooled expectations for the pace of future U.S. interest rate hikes.🕵️ Operation suggestion:go short GBP/USD at 1.14569, target price 1.12366
GoldThe dollar and U.S. bond yields both fell to boost the price of gold. Spot gold rose above 1660 and closed up 0.31% at $1653.78 per ounce; spot silver closed up 0.43% at $19.34 per ounce.📝 Review:Gold prices turned gains on Tuesday after weak U.S. economic data boosted expectations that the Federal Reserve may slow the pace of interest rate hikes, dragging the dollar down.🕵️ Operation suggestion:long Spot gold at 1667.15, the target price is 1667.15
Crude OilPoor global economic data caused demand concerns, and crude oil continued to be under pressure. However, as the dollar weakened, oil prices rebounded during the session. In the end, WTI crude oil closed up 0.05% at US$85.81 per barrel; Brent crude oil closed down 0.44% at US$85.81 per barrel. $93.42/barrel. European gas rebounded slightly from a four-month low, hovering in the 100-euro round. NYMEX November U.S. natural gas futures closed up 7.96% at $5.6130 per million British thermal units.📝 Review:Oil prices edged up on Tuesday, after falling more than $1 earlier, boosted by a weaker dollar and a Saudi energy minister's emphasis on supply concerns.🕵️ Operation suggestion:go short at 84.531, the target price is 82.990
IndiceThe three major U.S. stock indexes closed up collectively, the Dow closed up 1.07%, and the Nasdaq and S&P 500 initially closed up 2.25% and 1.63%, respectively. Lidar, charging piles, new energy vehicle sectors and WSB concept stocks led the gains.📝 Review:U.S. stocks ended sharply higher on Tuesday as weak economic data suggested the Federal Reserve's aggressive policy was taking effect, while a drop in benchmark U.S. Treasury yields boosted a rebound. The three major U.S. stock indexes rose for a third straight session, with the market-leading giants providing the most upside. The S&P 500 has rebounded about 8% from its Oct. 12 closing low.🕵️ Operation suggestion:go short the Nasdaq index at 11417.800, the target price is 11210.000
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