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According to a Reuters survey, the renminbi is the only Asian currency to receive bullish bets in this round of surveys.The onshore yuan closed at 6.7935 against the US dollar at 16:30 on July 9, up 58 points from the previous trading day.Iraqi Prime Minister: Investigations into the attacks against Saudi Arabia and the UAE are still ongoing.Ukrainian President Zelensky: Ukraine has launched attacks on an oil pumping station in Ufa, Russia, and an oil terminal in Rostov Oblast.On July 9th, Indonesia imported Russian crude oil for the first time since reaching an agreement with Russia in April, indicating that Moscow is leveraging the conflict with Iran to expand its customer base. According to customs data, approximately 770,000 barrels of crude oil, worth about US$75 million, arrived at Balikpapan port in Indonesia on June 29th. The listed port of loading was Kozmino port in Russia, and the shipment was carried by the tanker "Sierra". Since the outbreak of the Russia-Ukraine conflict in early 2022, Russian crude oil purchases have been closely monitored, with countries such as Europe and the United States implementing restrictions to curb Moscows revenue and promote an end to the war. The Iran war has led to soaring oil prices, which is a significant benefit for Russia in this regard. Indonesia has imported Russian crude oil in the past. Tanker tracking data shows sporadic shipments earlier this year and last year. This crude oil often comes from Russias east coast, producing grades such as Sakhalin and ESPO blend crude.

S&P 500 Price Forecast – Stock Markets Continue to Show Negativity

Florala Chen

Dec 07, 2022 15:57

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Technical Analysis of the S&P 500

The E-mini contract for the S&P 500 fell during trade on Tuesday once more as negativity remained a significant issue. The current short-term support is at the 3950 level, and a 50-Day EMA is moving into the same area at the same time. As a result, we appear to be a touch pessimistic, but whether or not this will cause us to disintegrate is another matter entirely. In light of this, I'll be closely monitoring the 50-Day EMA to get a sense of what will happen next.


The downtrend line that I have placed on the chart will certainly be tested, though, if we reverse course and break above the 200-Day EMA. Naturally, breaking above that would signal a strong bullish trend and allow the E-mini contract to go for the 4200 mark. Having stated that, a lot of drawbacks exist that might persist in the situation and create significant problems.


I predict that the final few weeks of the year will be quite volatile, therefore I believe you will start to notice more unpredictable moves than anything else. Despite this, the market is likely to continue to emphasize the need for extreme caution when choosing the size of your investment, primarily because unexpected movements are a possibility. Additionally, the Federal Reserve meeting next week will have a significant impact on our course of action. Keep in mind that Wall Street relies mostly on liquidity to function.

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