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November 10th - According to a Nikkei report, economist Takuji Aida, who has been selected to join the Japanese governments key advisory committee, stated that the Bank of Japan should avoid raising interest rates in December and should wait until at least January to support the fragile economy. In an interview released on Monday, Aida pointed out that the government should use large-scale spending to mitigate the impact of rising living costs on the public before real household income returns to positive growth. "A December rate hike by the Bank of Japan would face significant risks," Aida said, citing the possibility that the Japanese economy may have already contracted in the third quarter. He has been selected to join Prime Minister Sanae Takaichis core think tank to participate in the deliberation of the governments growth strategy. Aida emphasized that a December rate hike would also contradict the governments efforts to stimulate the economy through large-scale spending. If the Bank of Japan can foresee robust economic growth in fiscal year 2026, then a rate hike in January of the following year would be a more feasible option.November 10th, Futures News: Economies.com analysts latest view: Spot gold recorded a significant rise in the previous trading session, strongly breaking through the key resistance level of $4,050, which was the potential target mentioned in our previous analysis. This positive performance further consolidates the prices stability above the 50-day EMA, providing additional momentum for spot gold to continue expanding its profits.November 10th, Futures News: Economies.com analysts latest view: WTI crude oil futures prices rose during the previous trading day, touching the EMA50 moving average resistance level, attempting a technical correction within the short-term downtrend. The current price is still moving along the downward trend line, further strengthening selling pressure in the market.November 10th, Futures News: Economies.com analysts latest view: Brent crude oil futures prices showed a cautious upward trend in the previous trading session, mainly supported by a positive signal from the Relative Strength Index (RSI). Previously, prices had digested overbought conditions and touched the resistance level of its 50-day exponential moving average (EMA50). With the main bullish trend dominating and prices moving along the secondary trend line in the short term, this somewhat reduces the likelihood of further price rebounds in the near future.Li Auto: Cumulative deliveries of its Li Auto range-extended SUVs have exceeded 1.4 million.

S&P 500 Price Forecast – S&P 500 E-mini Contract Pulls Back

Skylar Shaw

Jan 31, 2023 16:57


Technical Analysis of the S&P 500

As we continue to wait for the Federal Reserve statement on Wednesday and many people speculate as to what Jerome Powell would say, the S&P 500 E-mini contract has slightly declined during the trading session on Monday. The truth is that as everyone gets ready for the possible volatility late Wednesday, we are going to see a lot of loud activity, but short-term back-and-forth. Since there is so much inflation in the world, even if it is declining, it is still much more than the Federal Reserve's aim, many people are beginning to believe that the Federal Reserve will need to maintain monetary policy looser than expected. There is even speculation that they may decide to increase their aim and accept inflation of 3%. This is absurd.


What will happen in the market in response to the upcoming news is the question at hand. I don't believe we will definitely break down below the 200-Day EMA between now and then, but I do think that if we do have a move ahead of time, it will probably be more bearish than positive. It is not only a very significant technical indication, but it is also close to the psychologically significant 4000 level. In the long run, a rise to the 4200 level is possible if we were to surpass the peak of the shooting star from the Friday session. In the end, this condition tends to increase volatility.

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