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On July 5, the head of the Kyiv Military and Political Administration Bureau of Ukraine, Tekachenko, said that the large-scale air strike launched by Russia on Kyiv in the early morning of the 4th has so far caused 2 deaths and 31 injuries, and the number of casualties continues to rise.On July 5, European Central Bank board member Makhlouf said that if the euro wants to quickly replace the dollar as the pillar of the global financial system, countries still have a long way to go, because there are still many gaps in financial and economic integration among European countries. Makhlouf said that the dominance of the dollar will weaken in the long run, but Europe currently lacks a single fiscal asset that is as stable as U.S. Treasuries and can compete with it. "Frankly speaking, Europes economic system is not yet fully formed," Makhlouf said, adding that changes in currency exchange rates in recent months are more due to investors concerns about the rule of law in the United States. Makhlouf said: "It would be a bit of an exaggeration to say that this will suddenly push the euro to replace the dollar, because the euro does not currently have such capabilities."ECB board member Makhlouf: Euro is not ready to challenge dollars status as global reserve currency.Russian Embassy: The Russian trade mission to Sweden has come under attack again, with a drone dropping paint on its premises.Turkish President Erdogan: We believe that the ceasefire between Iran and Israel has opened a door to Gaza, and Hamas has also demonstrated its sincerity many times.

S&P 500 Weekly Price Forecast – Stock Markets Have a Bullish Week

Alice Wang

Aug 01, 2022 15:59

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As a result of Jerome Powell convincing the markets that the Federal Reserve may change course, stock markets have surged to break over the 4100 barrier.

Weekly Technical Analysis for the S&P 500

During the trading week, the S&P 500 initially declined a little, but underlying it, purchasers were in great supply. The market has now broken through the 4100 level. On the daily chart, we are now in the midst of the last consolidation region, therefore a break above the 4100 level would be positive. The 4200 level, another enormous, round, psychologically important number, is slightly below the 50 Week EMA.


Especially if people begin to grasp that the Federal Reserve is not about to pivot, despite what Wall Street has fabricated, signs of tiredness will be sold into. Considering that Friday was the final day of the month, it is extremely possible that what we have witnessed is a little relief rally. Even though end-of-month marking up is against the law, it happens in business.


The fact that we are still firmly in a slump is what you should focus on there the most. Yes, it has been a pretty beautiful upward rise, but I'm still not sure. However, if we get a daily close above the 4200 mark, the general trend is likely to significantly change, and we may then go considerably higher. I think the next week or two will be critical because they will reveal where the markets are headed in the long run. At this point, it's entirely up in the air whether or not we go any higher.

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