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Market News The US Dollar Index Rose to 110, and Spot Gold Fell to $1,700
Markets News
The US Dollar Index Rose to 110, and Spot Gold Fell to $1,700
TOPONE Markets Analyst2022-11-10 09:30:00
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ForexThe dollar index rebounded to stand at 110 again, and closed up 0.75% at 110.45. The euro against the dollar turned down and fell below parity for a time, the pound against the dollar fell below the 1.15 and 1.14 levels one after another, and the dollar against the yen rose above 146 again.📝 Review:The dollar rose against most major currencies on Wednesday as U.S. midterm election results so far showed no evidence of the "red wave" some had expected of a Republican sweep, turning investors' attention to upcoming inflation data .🕵️ Operation suggestion:go long GBP/USD at 1.13632, target price 1.15616
GoldSpot gold fell from a more than four-week high, approaching the $1,700 mark, and closed down 0.35% at $1,706.62 per ounce; spot silver closed down 1.39% at $21.05 per ounce.📝 Review:Gold prices fell on Wednesday, retreating from a more than one-month high, as the dollar rallied as investors awaited key U.S. inflation data.🕵️ Operation suggestion:go long at 1705.30, the target price is 1729.20
Crude OilThe increase in U.S. inventories superimposed demand concerns. Crude oil fell by about 3% for two consecutive days. WTI crude oil fell below US$86 and closed down 3.42% at US$85.63/barrel; Brent crude oil fell below US$93 and closed down 2.85% at US$92.37/barrel. bucket. U.S. natural gas continued to fall, with NYMEX December natural gas futures closing down 4.45% at $5.8650 per million British thermal units. European benchmark Dutch TTF natural gas futures fell more than 4% to 113 euros in late trading.📝 Review:Oil prices fell more than 3 percent on Wednesday after industry data showed a larger-than-expected build in U.S. crude inventories and fears that a resurgence of the virus would hit fuel demand.🕵️ Operation suggestion:go short at 85.065, the target price is 82.837
IndiceU.S. stocks opened lower collectively, extended their losses in late trading, and stopped rising for three consecutive days. The Dow closed down 1.95%, the Nasdaq closed down 2.48%, and the S&P 500 closed down 2.08%. Most sectors such as popular Chinese concept stocks and new energy vehicle stocks fell. Affected by Musk's reduction in holdings, Tesla closed down about 7%, and its shares closed at a new low in about two years.📝 Review:U.S. stocks ended sharply lower on Wednesday, with Republicans appearing to have a smaller gain in the midterm elections than some had expected, and investors also focused on upcoming inflation data to gauge the extent of future interest rate hikes.🕵️ Operation suggestion:short the Nasdaq index at 10807.100, and the target price is 10621.600
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