EUR/USD 1.16346
-0.100%
Gold 3324.71
0.272%
Oil 62.268
0.556%
USD/JPY 147.304
-0.243%
GBP/USD 1.35001
0.061%
GBP/JPY 198.868
-0.176%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
According to a Kyodo News report on August 20, Japanese Agriculture Minister Shinjiro Koizumi announced that the government will extend the sales period for rice reserves, which are being sold directly to retailers under discretionary contracts, from the end of August. The lower-priced rice will continue to be sold in stores after September. Due to the time required to ship rice from warehouses and polish it, retailers have requested an extension, citing difficulties in selling out the rice within the deadline.Russian Embassy in India: The discount of Russian crude oil to India is about 5%.Cambrians stock price rose by more than 9% in the afternoon, and it once again broke through the 1,000 yuan mark, reaching 1,020 yuan, setting a historical high.Russian Embassy in India: Russian crude oil is extremely competitive and there is currently no alternative.On August 20th, while the US dollar has recently stabilized, Lombard Odier strategists expect further weakness and downgraded their outlook from neutral to negative. With US inflation rising slightly and businesses neither hiring nor laying off employees on a large scale, market consensus is gradually moving closer to the banks forecast for three Federal Reserve rate cuts this year. Strategists Luca Bindelli and Patrick Kellenberger stated in a research report that lower US interest rates will weaken the dollars yield advantage. Furthermore, lower hedging costs associated with lower US policy rates and less extreme short-term investor positioning are also weakening demand for the dollar.

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