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On August 30th, local time, Hungarian Foreign Minister Peter Szijjarto stated after the EU Foreign Ministers meeting in Copenhagen that the EU and most of its member states are not interested in achieving peace and will continue to provide funding and arm Ukraine. The European Commission is acting as a "Ukrainian Commission," representing Ukraines interests rather than those of EU member states.On August 30, Russia and Ukraine engaged in a fierce battle over the Donetsk regions key cities of Krasnaya Zvezda (known as Pokrovsk in Ukraine) and Konstantinovka on August 29. The Russian Ministry of Defense released a video on the 29th claiming Russian forces used Grad rockets to strike Ukrainian positions in the direction of Krasnaya Zvezda. The Russian news agency TASS also released a video claiming Russian forces launched strikes against Ukrainian targets near Konstantinovka.Kocher, the incoming ECB board member, said: It is crucial to avoid repeated swings in interest rate decisions.Kocher, the incoming ECB board member: Regarding the September meeting, unless the data clearly sends a strong signal, it is still necessary to retain policy room for maneuver to deal with various possible situations.Kocher, the incoming ECB board member: Austria will continue to maintain a prudent stance and ensure that price stability remains the core objective of all decisions made by the Austrian National Bank.

S&P 500 Price Forecast – S&P 500 E-mini Contract Spikes After CPI

Florala Chen

Dec 14, 2022 14:32

Technical Analysis of the S&P 500

The lower-than-expected CPI statistics caused the S&P 500 E-mini contract to soar quite a little during Tuesday's trading session. As a result, it appears like the market is attempting to price in a weaker monetary policy. At the end of the day, we still need to consider the Federal Reserve meeting that will take place on Wednesday. The statement from that meeting will undoubtedly have a significant impact on what occurs next.


In the end, it appears that the market swiftly reconsidered the entire scenario after realizing that the chairman of the Federal Reserve will likely attempt to reduce risk appetite. In spite of being lower than expected, the CPI statistic is still a scorching 7.1% year-over-year. Since that is still unsatisfactory, I believe the Fed will try to take some action to reduce risk appetite and, as a result, lower inflation.

The market might attempt to breach the 4200 level, though, if Jerome Powell fumbles the conference, which is a possibility. As we approach the end of the year, things could spiral out of control due to that area's likely "melt up" in the S&P 500 and, of course, a shortage of liquidity. All things being equal, we are at a key turning point for the upcoming few months, and tomorrow, Jerome Powell will be in the spotlight. Over the coming sessions, if we decline below the 50-Day EMA, it might trigger a significant breach.

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