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On January 27th, it was reported that under the trade agreement reached between India and the European Union, India has agreed to grant European automakers a quota far exceeding that of other recent agreements, significantly reducing tariffs and opening greater access to its long-protected automotive market. The agreement will gradually allow up to 250,000 European-made cars to enter India at preferential tariff rates, a figure significantly higher than the 37,000 quota granted to the UK under another agreement. Import tariffs on approximately 160,000 internal combustion engine vehicles will be reduced to 10% within five years, while tariffs on 90,000 electric vehicles will not begin to decrease until the tenth year to protect Indias emerging electric vehicle market. Initial in-quota tariffs for most vehicle categories will start at approximately 30%. Beyond this quota, the trade agreement also stipulates that tariffs on gasoline-powered vehicles will be reduced to 35% within ten years. This represents a substantial tariff reduction compared to Indias current tariffs of up to 110% on imported cars. This unprecedented quota arrangement signifies that both sides are reshaping their economic relationship through a trade agreement.Sichuan Jiuzhou stated on its interactive platform on January 27 that the company has not yet started any mobile communication-related businesses.On January 27th, the Shanghai Futures Exchange (SHFE) reported the following data on energy and chemical warehouse receipts and changes: 1. Pulp futures warehouse receipts: 129,494 tons, an increase of 940 tons compared to the previous trading day; 2. Pulp futures mill warehouse receipts: 11,000 tons, unchanged from the previous trading day; 3. Offset paper futures warehouse receipts: 0 tons, unchanged from the previous trading day; 4. Offset paper futures mill warehouse receipts: 2,840 tons, unchanged from the previous trading day; 5. Fuel oil futures warehouse receipts: 0 tons, unchanged from the previous trading day. 6. Petroleum asphalt futures warehouse receipts: 10,000 tons, unchanged from the previous trading day; 7. Petroleum asphalt futures factory warehouse receipts: 28,480 tons, unchanged from the previous trading day; 8. Medium-sulfur crude oil futures warehouse receipts: 3,464,000 barrels, unchanged from the previous trading day; 9. Low-sulfur fuel oil futures warehouse receipts: 6,530 tons, unchanged from the previous trading day; 10. Low-sulfur fuel oil futures factory warehouse receipts: 0 tons, unchanged from the previous trading day.EU: Under the EU-India agreement, tariffs on 90% of optical, medical and surgical equipment products in the EU will be eliminated.EU: Under the EU-India agreement, the EU is expected to provide €500 million in support over the next two years to help India reduce greenhouse gas emissions.

S&P 500 Price Forecast — Stock Market Looking for Footing

Florala Chen

Aug 24, 2022 15:54

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In the E-mini contract, the S&P 500 has gained a little bit of stability during the Tuesday trading session as we get closer to a critical support level.

Technical Analysis of the S&P 500

In the early stages of the E-mini contract, the S&P 500 has moved in a rather narrow range. Having said that, this week is the Jackson Hole Symposium, which is practically guaranteed to make a lot of noise. In this case, I believe the trading public will be paying great heed to central bankers' pronouncements, which, of course, may sometimes result in complete pandemonium.


In this case, I believe we could have a brief rebound followed by increased selling pressure. The 200-Day EMA is located around 4185, and there is considerable resistance at the 4300 level above. It's also important to pay attention to the 50-Day EMA, which is at 4082 and climbing below; it may provide dynamic support.


I do believe that it is extremely possible that traders will look to the 50-Day EMA to salvage the market upward, regardless of whether or not this turns out to be the case. If we break it down below that, the market is probably just trying to get to the 4000 level. Anything below the 4000 mark indicates that we have once again altered our mentality and that more downside is yet to come.


One thing you can certainly bet on, in my opinion, is a lot of noisy volatility, mostly as a result of the central bankers' ranting in Wyoming. They will almost certainly underline their resolve to battle inflation, which means that monetary policies will continue to tighten throughout the globe.

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