EUR/USD 1.17107
0.110%
Gold 3476.52
0.699%
Oil 64.368
1.049%
USD/JPY 147.170
0.146%
GBP/USD 1.35456
0.228%
GBP/JPY 199.312
0.356%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
U.S. Treasury Secretary Bessant: There are other regulations that can be used to justify tariffs, but they are not as effective and not as powerful.U.S. Treasury Secretary Benson: The United States is working with Europe to urge India to stop buying Russian oil.On September 2, U.S. Treasury Secretary Jeff Bessant said on Monday that he was not concerned about the dollars exchange rate position against the euro, noting that the euro should remain strong due to the impact of Europes fiscal expansion policies. "Europe is implementing a large fiscal expansion, led by Germany," Bessant said in an interview. "The market... is functioning well."On September 2nd, the Nigerian government announced a reduction in the upper limit on cost recovery for oil companies in an effort to boost revenue, as continued low international crude oil prices threaten to exacerbate the West African nations fiscal deficit. Bashir Ojullari, Group CEO of the state-owned Nigerian National Petroleum Corporation (NNPC), announced on Monday that companies signing production-sharing contracts (PSCs) with the government will now be able to claim a maximum cost recovery percentage of 70%, down from 80%. Ojullari stated that this move will ensure "a continuous flow of production funds into the federal account," and that "this position guarantees a return on investment for contractors while increasing the federal governments share of revenue." He explained that the remaining 30% of non-recoverable costs (i.e., profit oil) will be shared between companies and the government according to the terms of the specific agreement.U.S. Treasury Secretary Benson: The candidates for the two seats on the Federal Reserve Board may be selected from several candidates for chairman.

S&P 500 Price Forecast — Stock Markets Wait for Jackson Hole Results

Alice Wang

Aug 25, 2022 15:20

微信截图_20220825151158.png

Technical Analysis of the S&P 500

During the trading session on Wednesday, the S&P 500 briefly declined, but soon began to rebound. The market seems to be attempting to establish a little short-term basis at this time. Therefore, the Jackson Hole Symposium and of course Jerome Powell's address on Friday are expected to be closely watched by the market.


Currently, we are trading above the 50-day EMA and below the 200-day EMA. Since we are squeezed between these two moving averages, it is possible that we will have an explosive move at some point in the future. In the end, the market is trying to determine if the Federal Reserve will start acting aggressively tight or whether it will keep feeding the Wall Street speculators. Looking at this chart, it is clear that the market will likely remain volatile. It is also important to note that we just had a significant decline, so we may need to take a little break.


The chance of a move down to the 4000 level in the E-mini contract, and maybe much lower, arises if we were to break down below the 50-day EMA. Currently, we are attempting to determine if the market is attempting to enter a period of bull market activity or whether we have just corrected the overall image of a downturn. In all likelihood, the next several days will be quiet until we see how the speech was received. It's also important to keep in mind that Wall Street often makes mistakes on the first day before reversing sharply the next day.

Suggestion