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EU High Representative for Foreign Affairs and Security Policy Kallas: It is inconceivable that the frozen Russian assets will be returned to Russia unless Russia has paid reparations for the Ukrainian war.On August 30th, following the release of the PCE data, the Federal Reserve remains on track to cut interest rates at its September 16-17 meeting. Michael Lorizio, head of U.S. interest rate trading at Manulife Investment Management, said, "PCE reduces the risk of a September rate cut being derailed. At least from this perspective, the inflation component doesnt play any role in reducing the probability of a September rate cut." Long-term bond yields rose on Friday as traders closed positions before the long weekend and repositioned for the end of the month. Some interest rate hedges may also have an impact on the market, and the corporate bond market is expected to pick up next week as many people return from summer vacation. Lorizio said, "Were going to have a very busy week... The primary market and all the spread product markets are back in full swing, especially the corporate bond market." August employment data will also be released next Friday, which may be key to determining the Feds near-term policy.Dont expect to hear much from the Federal Reserve Board of Governors before their next meeting in mid-September. The Feds board of governors announced that no board members plan to make public appearances before September 7th. This puts us in the "interval" before the Feds September meeting, with Fed Governor Wallers speech Thursday evening likely to be the final statement from the board before the crucial September meeting. Theres still time to hear from regional Federal Reserve presidents on interest rate policy, including a speech on the US economy and monetary policy from St. Louis Fed President Moussallem scheduled for next Wednesday.On August 30th, Hong Kong Monetary Authority Deputy Chief Executive Chan Wai-min stated at the 7th Guangdong-Hong Kong-Macao Greater Bay Area Financial Development Forum that the HKMA actively encourages mainland enterprises to establish overseas business headquarters and corporate treasury centers in Hong Kong to coordinate the allocation of overseas funds. Regarding payments, the current global payment system still suffers from numerous intermediaries and high payment costs. With technological advancements, these issues will gradually be addressed. One example is the application of blockchain technology in the payment sector. Hong Kong is currently simultaneously promoting the use of central bank digital currency and commercial bank currency, hoping to provide more convenient and cost-effective solutions for future cross-border trade and investment payments.The Federal Aviation Administration announced the suspension of all SkyWest Airlines flights.

S&P 500 Price Forecast – Stock Markets Continue to Struggle

Alice Wang

Jul 15, 2022 15:54

Technical Analysis of the S&P 500

Due to the ongoing pessimism, the S&P 500 has decreased somewhat during Thursday's trading session. At this time, it seems as if the market is prepared to go further, maybe attempting to approach the most recent lows at the 3637 level. In the end, this market should continue to see a lot of agitated behavior. I believe that fading rallies will remain a significant problem. The 50 Day EMA is now hanging in the general vicinity of the 3950 level, which serves as the ceiling at this time.


Ultimately, your indication to become engaged will be when you start to feel exhausted after brief rallies. Given the lack of global growth and the fact that inflation is still a problem, I do believe the downward trend will continue. Additionally, the Federal Reserve is rapidly tightening monetary policy, and as a result, a 100 basis point interest rate rise is being predicted. Due to the fact that the S&P 500 contains so many significant exporters, it is extremely probable that we will continue to see significant problems with the global economy.


In the end, a running season is approaching, so there could be some "hopium" waiting to happen, but after hearing J.P. Morgan declare, "We have never seen an economic scenario like this," during its results presentation, I don't think this earnings season will be cause for celebration. After a rally, I will suppress any indications of tiredness.

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