Hot spot tracking

  • Powell confirms slower pace of rate hikes as early as December
  • Fed's Beige Book: Rates and inflation continue to weigh on economic activity
  • U.S. November ADP employment hits smallest increase in nearly two years

Product Hot Comment

  • Forex
    Powell's speech boosted the rally in risky assets, with the U.S. dollar index and U.S. bond yields diving intraday. The U.S. dollar index once fell 1% during the day, breaking below 106, and finally closed down 0.77% at 106. Non-US currencies rose sharply. The Australian dollar hit 0.68 against the US dollar, the pound rose 1% against the US dollar within the day, and the offshore renminbi recovered 7.05.
    📝 Review:The dollar fell on Wednesday after Federal Reserve Chairman Jerome Powell said the U.S. central bank could slow the pace of rate hikes "as soon as December," helping the greenback to its worst month against a basket of currencies since 2010.
    🕵️ Operation suggestion:long EUR/USD at 1.04231, a target price 1.04937
  • Gold
    Spot gold pushed up to $1,770 an ounce, closing up 1.07 percent at $1,768.23 an ounce. Spot silver broke through the $22 mark and closed up 4.41% at $22.19 an ounce.
    📝 Review:Gold prices rose more than 1% on Wednesday, heading for November's best month since mid-2020, as comments from the Federal Reserve chairman further cemented expectations for a slowdown in the pace of U.S. interest rate hikes.
    🕵️ Operation suggestion:go long at 1773.03, the target price is 1786.50
  • Crude Oil
    Crude oil went out of the independent market and rose sharply during the session. WTI crude oil regained the $80 mark and closed up 2.01% to $80.48/barrel; Brent crude oil closed up 2.07% to $86.66/barrel.
    📝 Review:Oil prices settled more than $2 higher on Wednesday, helped by signs of tightening supply, a weaker dollar and optimism about a recovery in demand.
    🕵️ Operation suggestion:go long at 80.564, target price 82.214
  • Indice
    As Federal Reserve Chairman Powell reiterated that policymakers will slow down the pace of rapid tightening at the meeting next month at the earliest, U.S. stocks rose sharply. The Dow closed up 2.17%, rebounding more than 20% from its October low, entering a technical bull market. The Nasdaq closed up 4.41%, and the S&P 500 closed up 3.02%, breaking the 200-day moving average.
    📝 Review:U.S. stocks ended sharply higher on Wednesday after Federal Reserve Chairman Jerome Powell said the central bank could slow the pace of interest rate hikes as soon as December. The S&P 500 reversed earlier losses and the Nasdaq jumped after Powell's speech prepared for the Brookings Institution think tank was released.
    🕵️ Operation suggestion:long the Nasdaq index is at 12051.600, and the target price is 12202.800

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