EUR/USD 1.14181
0.039%
Gold 4056.77
1.230%
Oil 83.375
1.355%
USD/JPY 162.731
0.152%
GBP/USD 1.34081
-0.164%
GBP/JPY 218.198
-0.009%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
July 21 – Nuveen Global Investment Strategist Laura Cooper stated in a report that the European Central Bank (ECB) is likely to keep interest rates unchanged at its meeting this week after the June rate hike, but will maintain a tighter tone. Cooper said the ECB would remain open to further tightening if renewed tensions drive up energy prices. She said inflation is more moderate than feared, with little sign of renewed acceleration in the Purchasing Managers Index (PMI) pricing sub-index, while producer price data confirms that upstream cost pressures are easing. “These factors provide a reason to hold rates steady this month,” she said. The complexity lies in renewed disruptions to commodity supplies, which could reignite energy price pressures at a time when the ECB is gaining confidence in the path of declining inflation.According to the Joint Oil Data Institute (JODI), Saudi Arabias domestic refineries increased crude oil processing by 175,000 barrels per day in May, reaching 2.386 million barrels per day.According to the Joint Oil Data Institute (JODI), Saudi Arabias crude oil inventories increased by 2.827 million barrels in May, reaching 142.794 million barrels.According to the Joint Oil Data Institute (JODI), Saudi Arabias direct crude oil burning increased by 107,000 barrels per day in May, reaching 647,000 barrels per day.According to the Joint Oil Database (JODI), Saudi Arabias petroleum product exports increased by 74,000 barrels per day in May, reaching 1.083 million barrels per day.

S&P 500 & Nasdaq 100 Stumbling on The Edge of a Cliff

Skylar Shaw

May 09, 2022 10:53


微信截图_20220509101602.png


The monthly US Jobs Report (NFP) will be announced at 12:30 UK today, with the market expecting 391k new jobs in April, down from 431k in March. The unemployment rate is expected to fall to 3.5 percent, while average hourly earnings are expected to stay constant at 0.4 percent month over month. The US employment market is strong, and unless today's news disappoints, traders will continue to price in higher US interest rates, keeping the US dollar bought. Both John Williams and Raphael Bostic of the Federal Reserve will talk later today, and they may provide some further insight on the FOMC decision on Wednesday.

 

The 500 chart demonstrates how technical analysis may be useful even in turbulent times. The bullish hammer candle we saw on Monday led to a big comeback until yesterday's sell-off, while the resistance zone we saw around 4,300–4,310 maintained on Wednesday and Thursday. If 4,060 holds, the S&P 500 will have a chance to rebound in the near term; otherwise, 4,035 will come into play quite rapidly. Any efforts to go higher should be met with resistance in the 4,300–4,310 range. Volatility is still at an all-time high.

 

According to retail trader statistics, 68.09 percent of traders are net-long, with a long-to-short ratio of 2.13 to 1. The number of traders who are net-long is up 18.01 percent from yesterday and up 16.33 percent from last week, while those who are net-short is down 26.33 percent from yesterday and 14.60 percent from last week.


We usually take the other side of popular mood, and the fact that traders are net-long signals that the US 500 will continue to decline. Traders are more net-long today than they were yesterday and last week, and the combination of current mood and previous movements gives us a greater contrarian trading bias in the US 500.

Suggestion