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November 13th - According to the minutes of the Chilean Central Banks last policy meeting, while policymakers unanimously agreed on the continued risks of inflation, one board member remained open to discussing lowering borrowing costs. The minutes of the October 28th policy meeting stated that the outlook for consumer prices faced persistent threats, necessitating the gathering of more information before proceeding with monetary easing. At this meeting, they stabilized borrowing costs at 4.75% for the second consecutive time. Policymakers wrote that while they unanimously agreed that the only "reasonable" option at the meeting was to maintain the current interest rate, "one board member noted that several factors pointed to a reduction in inflation risks, therefore the option of a 25 basis point reduction could have been discussed, although he would have rejected it."On November 13th, Antje Praefcke of Commerzbank stated in a report that the Swedish krona is one of the best-performing currencies this year, but even with the Swedish central banks hints of completing interest rate cuts, the krona is unlikely to appreciate significantly further. Given that the European Central Bank is also likely to keep interest rates unchanged for the foreseeable future, and with both currency zones expected to see a slight economic recovery, the kronas upside potential may have already been largely realized. She added that the krona remains vulnerable to shocks when risk aversion rises. Nevertheless, she believes that if inflation-adjusted real interest rates continue to rise, the krona should continue to receive support.India and Canada held a dialogue on trade and investment.A spokesperson for the British Prime Minister stated that the US envoys objections do not indicate a deterioration in UK-US relations. The UK retains multiple options for building larger-scale nuclear power plants.A spokesperson for the British Prime Minister stated that the United States will play a significant role in the UKs nuclear program.

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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