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ECB Governing Council member Koch said inflation will remain high for some time.On June 18th, Tai Hui, Chief Market Strategist for Asia at Morgan Asset Management, stated that at the first policy meeting chaired by newly appointed Federal Reserve Chairman Warsh, the FOMC unanimously decided to maintain the target range for the federal funds rate at 3.50%-3.75%. The signals from this meeting indicate that the Fed did not show any eagerness to ease monetary policy. Tai Hui further noted that the policy statement underwent a significant change in format, being about half the length of the previous version. Compared to the classic four-part detailed statement released in April, the latest statement was significantly streamlined and completely abandoned the previously implied dovish bias. At the same time, the descriptions of economic growth, the job market, and the inflation outlook were also noticeably more concise. He believes that at the current interest rate level, the FOMC seems willing to remain patient, thus maintaining the assessment that the Fed will not adjust interest rates this year.The Swiss National Bank (SNB) predicts that global economic growth may be more moderate in the short term than in previous quarters. However, growth is expected to pick up again in the medium term. The Swiss franc may face upward pressure again.The Swiss National Bank (SNB) warns that the situation in the Middle East could deteriorate again, further dampening global economic activity. In its baseline scenario, global inflation is expected to remain high in the coming quarters due to rising raw material prices.Swiss National Bank: Inflation growth is mainly attributed to rising petroleum product prices.

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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