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April 9th - According to foreign media reports, sources familiar with the matter stated that Venezuela is increasing its sales of US dollars to the private sector to curb the depreciation of its currency, the bolivar, and prevent inflation from spiraling out of control again. A person directly familiar with the operations stated that since March 31st, the authorities have sold approximately $330 million through direct foreign exchange intervention. This resumption of direct intervention (which had been suspended since mid-December last year) highlights the efforts of the Rodriguez interim government to stabilize the exchange rate. Previously, the dollar auction mechanism launched earlier this year had encountered difficulties, with uneven supply putting pressure on the parallel market. According to a report released this week by Ecoanalítica, approximately 80% of dollar demand was rejected by the Venezuelan central bank without explanation. Ecoanalítica analysts noted in the report: "The official foreign exchange supply is highly concentrated in a few entities, coupled with unmet demand from SMEs and individuals, leading to funds flowing into the parallel market. This situation widens the gap between the official exchange rate and the market exchange rate." Consulting firm Síntesis Financiera stated that the government also sold over $1 billion in the official foreign exchange market in March, setting a monthly record since the system was established in 2019.Iranian media reported that the Iranian president told the Pakistani prime minister that Iran had accepted the ceasefire proposal as part of its "responsible and strong" approach.The White House reports that Hungary has announced plans to purchase $700 million worth of HIMARS systems from the United States.Google (GOOG.O): Google Finance will be launched in more than 100 countries in the coming weeks, with full local language support.Iranian Foreign Ministry: During a phone call with the Turkish Foreign Minister, the Iranian Foreign Minister stated that if the United States demonstrates sincerity, there is hope for ending the war and establishing lasting stability and security.

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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