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Market News U.S. Repurchases Crude Oil to Fill Strategic Reserves, Oil Price Rebounds Weak
Markets News
U.S. Repurchases Crude Oil to Fill Strategic Reserves, Oil Price Rebounds Weak
TOPONE Markets Analyst2022-12-19 19:30:00
Hot spot tracking
- Japan govt decides to add flexibility to 2% inflation target
- EU agrees to strengthen and expand carbon market development
- Germany's first LNG receiving terminal officially put into operation
- Bank of Japan may continue to defy Fed-led rate hike consensus
- UK plans to extend business energy support package to 2024
Product Hot Comment
ForexAs of 17:00 (GMT+8), EURUSD rose 0.472 to 1.06421; GBPUSD rose 0.362% to 1.22059; AUDUSD fell 0.477% to 0.67215; USDJPY fell 0.582% to 135.893.📝 Review:At last week's European Central Bank interest rate meeting, the European Central Bank promised to continue to raise interest rates sharply, while announcing a quantitative tightening plan. At the same time, U.S. inflation is expected to slow, and interest rate differentials continue to narrow. This gives support to the euro to a certain extent, and the European Central Bank may even end raising interest rates later than the Fed.🕵️ Operation suggestion:EURUSD is long at 1.06412, with a target of 1.06623.
GoldAs of 17:00 (GMT+8), spot gold rose 0.270% to $1797.00/oz, and spot silver rose 0.599% to $23.328/oz.📝 Review:International gold prices generally remained stable. The prospect of further rate hikes by the Federal Reserve next year capped gains in gold prices, despite support from a weaker dollar. Compared with the demand for gold at the end of the year, the price of gold will look at US$1,809 in the market outlook.🕵️ Operation suggestion:Spot gold is long at 1809.42, and the target point is 1809.42.
Crude OilAs of 17:00 (GMT+8), WTI rose 0.317% to $74.696/barrel; Brent rose 0.343% to $79.635/barrel.📝 Review:While oil prices were supported by optimism about demand for crude in Asia, it came after hawkish comments from the Federal Reserve and several European central banks on raising interest rates. That has sparked fears of a possible recession. Moreover, the downward trend line is more obvious to suppress the oil price, so it is necessary to beware of the risk of further downward exploration of the oil price.🕵️ Operation suggestion:U.S. crude oil is short at 74.706, and the target point is 72.056.
IndiceAs of 17:00 (GMT+8), Taiwan's weighted index rose 0.503% to 14451.9 points; the Nikkei 225 index fell 0.033% to 27326.0 points; Hong Kong's Hang Seng Index rose 0.316% to 19387.0 points; Australia's S&P/ASX200 index rose 0.396% to 7155.15 points.📝 Review:The weighted index of Taiwan stocks fell 95.23 points to close at 14433.32 points, a drop of 0.66%, holding the half-year line, and the transaction value reached NT$206.591 billion. Electronic stocks fell 0.69%, financial stocks fell 0.05%, shipping stocks fell 2%.🕵️ Operation suggestion:Taiwan's weighted index is short at 14453.9, and the target point is 14212.8.
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