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On January 29, Premier Li Qiang and British Prime Minister Keith Starmer jointly attended the closing ceremony of the China-UK Business Council meeting at the Great Hall of the People in Beijing and delivered speeches. More than 110 representatives from Chinese and British enterprises and institutions attended. Li Qiang stated that China and the UK are important economic and trade partners with broad common interests. As long as both sides adhere to mutual respect, move in the same direction, eliminate interference, and cooperate openly, they can achieve win-win results and create common prosperity through mutual benefit. Currently, unilateralism and protectionism are on the rise, and geopolitical conflicts are intensifying, severely impacting the world economy and business development. Against this backdrop, China and the UK should continue to uphold the "ice-breaking spirit" and strengthen cooperation ties. This is not only a rational choice for both countries to cope with risks and promote common development, but also a due responsibility for China and the UK as major powers to work together to solve global problems.January 29th - Canadas trade deficit widened more than expected, driven by increased volatility in gold exports and declines in both imports and exports of motor vehicles and parts. Statistics Canada reported on Thursday that the countrys trade deficit reached C$2.2 billion in November. Economists had previously predicted a deficit of C$690 million. The agency stated that total exports fell 2.8% in November, with exports of metal and non-metallic mineral products experiencing the largest drop at 24.4%. This was primarily dragged down by a 36% decline in exports of unwrought gold, silver, platinum, and their alloys. The report noted that gold has been the main driver of volatility in Canadian exports in recent months. In November, Canadian exports of unwrought gold to the UK, the US, and Hong Kong all declined sharply.The U.S. trade deficit widened by the largest margin since 1992.The final reading of U.S. nonfarm unit labor costs for the third quarter was -1.9%, compared to an expected -1.90% and a previous reading of -1.90%.The number of Americans filing for unemployment benefits for the week ending January 24 was 209,000, compared with an expected 205,000 and a revised 210,000 for the previous week.

Stock Markets Continue to Put Up a Fight

Cory Russell

Jul 18, 2022 15:12

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Weekly Technical Analysis for the S&P 500

The S&P 500 has declined considerably over the last week, but it's important to remember that the previous three candlesticks have all been hammers, which does indicate that a balance or perhaps a breakout to show signs of life is very approaching. Having said that, I believe the market will, more often than not, exhibit a scenario in which there will be a brief rebound and maybe a bid to test the 4200 level. If we could break through the 4200 level, which has served as a big area of resistance as well, the general trend would alter.


On the other side, this market is likely to crash very severely if we reverse course and break down below the 3640 level and, therefore, the 200 day EMA. Given everything being equal, I think this market is a touch oversold, so a little rebound makes some sense. The market will likely continue to be choppy and noisy, and you should be concerned about the fact that we are almost certainly heading into a recession, despite what some people on Wall Street would have you believe. Keep in mind that we are about to enter the earnings season, so you need to pay close attention to pre-market volatility.


In the end, I believe fading rallies will continue to be effective, but we must wait for those rallies to take place in order to get some opportunity and a better risk-to-reward ratio.

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