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On July 30th, Seema Shah, Chief Global Strategist at Principal Asset Management, stated in a report that the Federal Reserves decision to maintain interest rates, given the dissenting votes of three committee members, appeared more like an internal debate than a consensus decision, confirming market expectations of a delicate balance before the meeting. The statement offered little new information, but these dissenting opinions conveyed a clear message: the Fed is not yet confident that the battle against inflation has been won. While a rate cut is currently unlikely, investors cannot rule out the possibility of another rate hike before the end of the year. Principal Asset Managements basic assumption remains that the Fed will remain on hold until the end of 2026 as underlying inflationary pressures ease, "but confidence in this view is low."On July 30th, Christian Hoffmann, head of fixed income at Chambord Investment Management, stated that the Federal Reserves decision to keep interest rates unchanged was "not a foregone conclusion," calling it a "disturbing pause." Despite some constructive inflation data, oil prices surged again amid increased geopolitical uncertainty. We are increasingly convinced that this is no longer a Fed that reveals its every move well in advance, nor one that frequently shares its thoughts on various occasions.On July 30th, Ed Hutchings, Head of Interest Rates at Aviva Investors, stated in a report that investors will have to adapt to greater uncertainty under the leadership of the new Federal Reserve Chairman, Warsh. While the Feds decision to maintain interest rates was largely in line with expectations, considerable uncertainty existed before the meeting regarding the outcome and subsequent wording. Under the new Fed Chairman, this appears to be something investors will have to adjust to.TD Cowen: Lowered its price target for Qualcomm (QCOM.O) from $225 to $175.French household spending rose 0.1% year-on-year in June, compared with 0.30% in the previous month.

Look at $81.62 on NYMEX crude oil

Oct 26, 2021 11:01

On Monday (October 11), international oil prices rose, continuing the previous seven-week streak. Due to supply restrictions by major producing countries, and as economies try to recover from the new crown epidemic, demand for fuel continues to grow. NYMEX crude oil looks at US$81.62 in the market outlook

GMT+8 13:36, NYMEX crude oil futures rose 1.95% to 80.90 US dollars / barrel; ICE Brent crude oil futures rose 1.54% to 83.66 US dollars / barrel. The two cities respectively refreshed their highs since October 31, 2014 to US$81.02/barrel and their highs since October 10, 2018 to US$83.80/barrel.


As more people who have been vaccinated get rid of the lockdown, economic recovery is gaining momentum, and coal and natural gas prices have soared, making oil more attractive as a fuel for power generation, driving the oil market higher. The two major crude oil markets have been rising for seven consecutive weeks.

But as US inventories have increased again after the recent decline, oil prices may begin to falter. Caroline Bain, chief commodity analyst at Capital Investment Macros, said in a report: "We believe that crude oil prices will not rise sharply this quarter, and we still expect a gradual decline next year."

On the daily chart, U.S. oil is in an upward ((3)) wave that started from $61.74 and broke through the 23.6% target of $78.37. The upper resistance looks at the $80 mark and the ((3)) wave 38.2% target of 88.66. Dollar.

On the hourly chart, oil prices are in five upward waves starting from 74.97 US dollars, and the upper resistance looks to the 138.2% target of 81.62 US dollars. Wave 5 is a sub-wave of the upward (1) wave that started at $61.74. (1) Waves are the sub-waves of ((3)) waves.

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