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According to the official measurement of the China Earthquake Networks Center, a 4.1-magnitude earthquake occurred at 10:06 on June 17 in Haixi Prefecture, Qinghai Province (37.85 degrees north latitude, 95.55 degrees east longitude), with a focal depth of 10 kilometers.On June 17th, Jarden economists warned that the Reserve Bank of Australia (RBA) cannot accelerate the natural decline of inflation by adjusting interest rates. In their research report, they pointed out that the composition of inflation is more important than its level, and they expect core inflation to remain above 3% until the second half of 2027. They noted that the main reason for the significantly higher-than-expected inflation rate is not an overheated domestic economy, but rather related to fuel costs, which are beyond the control of officials or politicians. This situation should ease as the situation in the Middle East normalizes, but Jardens core concern is the extent to which cost pressures will affect Australian goods and services.June 17th - According to a Wall Street Journal survey of economists, 10 out of 12 believe the Philippine central bank is likely to raise its policy rate by 25 basis points to 4.75% on Thursday. Economists at Capital Economics noted in a report that the Philippines is one of the Asian economies most severely affected by the energy shock, and inflation has exceeded the central banks target range in recent months. The firm added that while inflation concerns may prompt the central bank to raise rates, it will also consider economic weakness in its decision-making. Two economists predict a larger rate hike, reaching 50 basis points. HSBC analyst Aris Dacanay believes the rate hike could be even larger given the central banks price stability target.Gold rose in early Asian trading on June 17th. Zaheer Anwari, CEO of The Revacy Fund, stated that improved market confidence, driven by easing concerns about energy supply disruptions, inflation, and interest rates, created a more favorable environment for gold. Traders are closely watching the decisions of several central banks this week. While the Bank of Japans rate hike supported Japanese bond yields and may limit golds upside, investors expect the Federal Reserve to keep rates unchanged. If the Feds updated economic and inflation forecasts remain positive, it could further boost gold prices. Furthermore, continued central bank position building will provide strong structural support. Anwari believes gold prices will find stable support around $4,000 per ounce.Goldman Sachs: We maintain our bearish view on TTF natural gas prices for 2028/29, with forecasts of €19/MWh and €16/MWh, respectively, with the risks skewed to the downside.

S&P 500 (SPY) Rallies As Dollar Pulls Back From Highs

Cory Russell

Sep 29, 2022 14:34

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Technical Analysis of the S&P 500

Throughout electronic trading overnight in Asia, the S&P 500 originally declined, but the E-mini contract proved to be durable during trade, and now it seems that we are attempting to build some sort of support. Having said that, the fact that we have reached a "lower low" indicates that the overall structure is still highly unfavorable. Because of this, I believe it's just a matter of time until we see new lows, but in the meanwhile, let's have a little rebound to shake a few folks about.


At this point, I would consider any rise to be a possible selling opportunity, at the very least at the first indications of tiredness. As the 50-Day EMA is falling and moving toward the market, the 3800 level makes a lot of sense as a barrier.


I do believe that traders will continue to sell off short-term gains in this scenario, but the odd relief rally does make a lot of sense. We have, after all, moved too quickly and drastically to the negative in this circumstance. So be it if the market gains. Although I won't be participating, I'll be on the lookout for a chance to go short once again. The Bank of England has opted to increase its bond purchases, and while it's probably important to note that they are rising rates concurrently, the Federal Reserve is nothing near relaxing monetary policy at this moment, so you probably have a lot of people purchasing.


Today on Wall Street, the story will almost certainly go something like this: "If the Bank of England is prepared to change course, then the Federal Reserve must be prepared as well!" These idiots are the ones that incur losses. Nothing has changed, and as of right now, the higher it rises, the more interested I am in selling.


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