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The Hungarian central bank kept its benchmark interest rate at 6.25%, in line with market expectations.April 28th - As countries seek more funding for defense and advanced technology, the European Union is exploring the possibility of postponing repayments of billions of euros in debt incurred during the pandemic. According to sources, the European Commission, the EUs executive body, is preparing an analysis report on this possibility. Several countries, including France, have urged the EU to postpone repayments originally scheduled to begin in 2028, arguing that budget austerity and urgent spending needs should take priority. This move reflects a shift in the EUs attitude towards debt. Repayment of pandemic-era debt has become a core issue in the EUs negotiations on the 2028-2034 budget. EU leaders, at a summit in Cyprus last Friday, demanded that the European Commission conduct a repayment analysis. French President Macron stated in Athens on Saturday: "It makes no sense to repay COVID-19 debt now, given the demand for European securities and bonds; it will negatively impact the budget. We incurred debt during the pandemic. Now we are being told: we need to pay off the debt as soon as possible. This is foolish."On April 28, it was learned from Iranian sources that a liquefied natural gas (LNG) carrier had passed through the Strait of Hormuz. This marks the first time an LNG carrier has transited the Strait since the start of the conflict between the US, Israel, and Iran. The ships background is currently unclear, and its country of origin and final destination have not yet been released.On April 28th, sources revealed that Saudi Aramcos main export facility in Al-Juama, damaged at the end of February, disrupted liquefied petroleum gas (LPG) supplies, leading the company to extend the suspension of LPG shipments into May. Aramcos LPG exports had been suspended since a supporting structure at the facility collapsed before the outbreak of the Middle East conflict in February, causing prices to rise and buyers scrambling for alternative supplies. Subsequently, the conflict virtually closed the Strait of Hormuz, a major export route, causing energy shortages in Asia. Some sources indicated that Aramco has informed some buyers that it has failed to carry out necessary repairs at the Al-Juama facility. This means that even if the Strait of Hormuz reopens, no shipments will be delivered next month. The company stated on February 26th that "planned shipments from Al-Juama in the coming weeks will be cancelled," but did not provide further details.General Motors (GM.N): Aluminum, steel, and transportation costs are facing inflationary pressures.

S&P 500 Price Forecast – Stock Markets Run Into Resistance

Cory Russell

Dec 06, 2022 15:56


Technical Analysis of the S&P 500

The S&P 500 E-mini contract has had a rough start to the week as we have been testing a significant downtrend line. As a result, the market will continue to display a lot of erratic activity, particularly given that the 200-Day EMA is located just below. A move down to the 3900 level, which is essentially where the 50-Day EMA is at the moment, is possible if we break below the 200-Day EMA, which is likely to lead to even more negative price action.


The Federal Reserve meeting is in the middle of next week, and that will undoubtedly have a significant impact on how the market performs. It's probably wise to keep in mind that each rally that is predicated on what Powell may or may not say tends to be shorter. To put it another way, I ponder whether or not this market is at last taking the real economy into account. Not everything revolves on "Poppa Powell" and whether or not he is dispensing candy.


It's feasible that we may look at the 4200 level if we were to break above the highs from last week. The 4200 level courses are an area that obviously has a lot of prior action as well as a certain degree of psychology associated to it. Remember that the year is coming to a close, thus I believe it makes perfect sense that the famous "Santa Claus rally" has arrived. What really matters is if it endures for any period of time.

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