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New York gold futures surged 4.00% intraday, currently trading at $5286.10 per ounce.On January 28th, China Railway Industry Corporation (CRIC) announced that its newly signed contracts for 2025 amounted to RMB 44.396 billion, a year-on-year decrease of 7.79%. Among these, the business of special engineering machinery and related services increased by 6.70% year-on-year, while the business of transportation equipment and related services decreased by 11.90% year-on-year. The total value of major contracts signed/won in the fourth quarter was RMB 2.532 billion, accounting for approximately 8.73% of the companys operating revenue in 2024.Eurozone money markets currently estimate a 25% probability of the European Central Bank cutting interest rates by July, compared to 15% on Tuesday.1. Bank of America: The Federal Reserve will cut interest rates twice in 2026, in June and July respectively. 2. Goldman Sachs: Expects the Federal Reserve to implement two rate cuts this year, with the first cut in June. 3. Morgan Stanley: Expects the Federal Reserve to cut interest rates by 25 basis points each in June and September. 4. Barclays: Expects the Federal Reserve to cut interest rates by 25 basis points each in June and December this year. 5. EY Bordrin: Expects the Federal Reserve to cut interest rates by a total of 50 basis points this year, but not until the second half of the year. 6. JPMorgan Chase: No longer expects the Federal Reserve to cut interest rates in 2026; the next action is expected to be a 25 basis point rate hike in the third quarter of 2027. 7. KBC: The next rate cut may not come until March, by 25 basis points. A further 25 basis point cut may be made in the second quarter to reach the neutral interest rate level. 8. Oxford Economics: The Federal Reserve will maintain its policy unchanged until June. A decline in inflation will allow the Federal Reserve to lower interest rates sooner if the labor market weakens further. 9. ING: The baseline forecast is for the Fed to cut rates in March and June, but the apparent risk now is that this pace could be delayed by three months overall. The Feds "dual mandate" will face more pressing pressure to achieve a rate cut in March. 10. ANZ: A pause in rate cuts in January was appropriate, but a prolonged pause is unnecessary. They forecast the FOMC to cut rates by 25 basis points each in March and June. 11. Wells Fargo: Given the two months of economic data to be released before the March meeting, rate cuts could come earlier, in March and June. The risk to their forecast leans towards a delay in the timing of rate cuts.The China Earthquake Networks Center automatically determined that an earthquake of approximately magnitude 3.3 occurred at 15:27 on January 28 near Sunan County, Zhangye City, Gansu Province (38.93 degrees north latitude, 98.22 degrees east longitude). The final result is subject to the official rapid report.

Stock Markets Continue to Pressure the Upside

Cory Russell

Aug 02, 2022 15:08

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Technical Analysis of the S&P 500

Due to the market noise that has continued throughout the trading day on Monday, the S&P 500 has slightly declined. In the end, I think this market will need to make a more significant choice given enough time. As it stands, we are getting close to the pivotal 200 day EMA, which normally indicates that we may encounter some longer-term resistance. Given this situation, I believe we have a chance to present, but for the time being we may want to take a little step back.


Right now, the 4200 level represents the true reward, and if we can break through it, the markets are quite likely to undergo a significant shift. Despite the fact that one of the governors said over the weekend that the market had gotten a little ahead of itself, they now feel that the Federal Reserve is preparing to ease its monetary policy. Markets may not always take the Federal Reserve's statements seriously since, unfortunately, they have completely lost all credibility over the last 13 years.

 

As a result, it is quite probable that the markets will attempt to rise in the future; nevertheless, you must pay special attention to the 10-year yield. It is presently declining very quickly, which has increased pressure on risk taking generally. Given this, it does make some sense that we would break out, but you need to have the bond market on your side rather than against it.

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