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On August 19th, S&P Global Ratings affirmed the U.S. sovereign credit rating at "AA+/A-1+" with a stable outlook. The agency noted that seven months after the Trump administration took office, Congress approved its signature tax and spending bill, demonstrating its core policy commitments. Meanwhile, the U.S. government continues to pursue reforms to the international trading system. Against the backdrop of rising effective tariff rates, substantial tariff revenues are expected to largely offset potential fiscal weakness that would otherwise have resulted from recent fiscal bills containing tax increases, tax cuts, and spending cuts. The stable outlook reflects the agencys expectation of continued resilience in the U.S. economy; credible and effective monetary policy implementation; a high but stable fiscal deficit, supporting growth in general government net debt; and a $5 trillion increase in the debt ceiling.Hong Kong-listed RIMBACO (01953.HK) opened with a gain of over 90%, and the company announced a special dividend of 3.7 HK cents per share.S&P: The outlook on the US rating remains stable, reflecting our expectations of the following factors: continued resilience of the US economy; credible and effective monetary policy implementation; the fiscal deficit, while remaining high, has not continued to expand, supporting the growth of general government net debt; and an increase in the debt ceiling by $5 trillion.S&P maintains the U.S. sovereign rating at Aa+/A-1+; the outlook remains stable.The Hang Seng Index in Hong Kong opened at 25,241.29 points, up 64.44 points, or 0.26%, on Tuesday, August 19; the Hang Seng Tech Index in Hong Kong opened at 5,592.3 points, up 13.12 points, or 0.24%, on Tuesday, August 19; the CSI 300 Index opened at 9,054.09 points, up 20.41 points, or 0.23%, on Tuesday, August 19; and the H-share Index opened at 4,373.41 points, up 7.9 points, or 0.18%, on Tuesday, August 19.

Brent Crude Rose 15% in A week Due to Australian Export Restrictions on Aluminum

Haiden Holmes

Apr 02, 2022 09:57

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The daily chart indicates that the price has recovered from the 50 MA and is now aiming for the 20 MA after three straight rising sessions. Since December, the long-term bull momentum has remained intact, as evidenced by the rising trend line connecting the lows.


The four-hour chart also demonstrates the price's strength, as the candlestick has now violated all significant moving averages and is stuck to an upward trajectory.


The next level of resistance is $3638, which will assist the metal in recouping all of its losses over the last two weeks. The price will be supported by the months-long trend line at roughly $3268 per ton.

Brent Crude Oil

Brent crude oil prices have been rising for six consecutive days and have jumped more than 6% to begin the new week. Brent Crude, the worldwide benchmark, is trading as high as $114.80 a barrel on Tuesday, having gained more than 15% in the previous week. The price increases as EU foreign ministers convene in Brussels to consider more measures against Russia.


Two weeks ago, the price of the most critical energy plummeted from a decades-high level and is now seeking to reclaim its peak. The daily chart indicates that the price has risen above the short-term indication and is now trading above the 20-day moving average, with the 50-day and 100-day moving averages still some distance away.


In the short term, the level of $117.4 will act as a critical stumbling block before the market re-enters the $120 plus zone. From the daily trend line, a support level between $108 and $109 may be seen.


Sentimentally, the RSI on the hourly chart has entered oversold territory, which might halt the bull-bias purchasing in the short term. However, the RSI level on the daily chart remains below the average for the last two months, indicating that the price may nudge higher.

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