EUR/USD 1.18167
0.262%
Gold 5155.85
1.157%
Oil 65.569
-1.132%
USD/JPY 154.455
-0.390%
GBP/USD 1.35148
0.191%
GBP/JPY 208.747
-0.198%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Despite the ban on European Central Bank staff receiving compensation, ECB President Christine Lagarde still received €140,000 from the Bank for International Settlements.The China Earthquake Networks Center officially reported that a magnitude 3.3 earthquake occurred at 12:34 on February 23 in Yuli County, Bayingolin Mongol Autonomous Prefecture, Xinjiang (40.97 degrees north latitude, 84.31 degrees east longitude), with a focal depth of 18 kilometers.Former Bank of Japan board member Makoto Sakurai stated that if the yen weakens again before the expected Japan-US summit in March, the Bank of Japan could raise interest rates as early as March. Sakurai said, "Intervention in the exchange rate will only have a temporary effect on curbing yen selling pressure. The best way to deal with a weak yen is for the Bank of Japan to raise interest rates." Sakurai added that further yen depreciation would push up inflation by increasing import costs and offset some of the downward pressure from government fuel subsidies. He further added that if a significant yen depreciation is needed, the Bank of Japan could raise interest rates as early as March, citing the expectation of strong wage growth from companies and unions in the spring annual wage negotiations.SK Group Chairman Chey Tae-won, chairman of SK Hynixs parent company, has pledged to expand production of AI memory chips to meet surging demand from global data center construction. He stated that high-bandwidth memory chips are "monster chips" that have brought huge profits to SK Hynix. The chipmakers stock price has more than quadrupled in the past year due to record earnings. While he did not specify the scale of the expansion at his chip company, SK Hynix stated in January that its capital expenditure in 2026 would increase significantly compared to last year to meet demand for HBM chips.A source at Indias Ministry of Commerce said on the 22nd that India has postponed its planned trip to Washington this week, primarily due to uncertainty following the US Supreme Courts overturning of President Trumps tariffs. This is one of the first concrete reactions from Asian countries to the ruling. Previously, after the court rejected the tariffs, Trump announced on the 21st a temporary 15% tariff on all goods imported into the US, the highest rate allowed by law. The source, who requested anonymity, said, "The decision to postpone the visit was made after consultations between officials of both countries. A new date for the visit has not yet been determined."

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

Florala Chen

Aug 24, 2022 15:54

微信截图_20220824155053.png


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.

Suggestion