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The Ukrainian military has attacked an oil refinery in Ufa, Russia.On April 3, data released by the Russian Ministry of Finance on Friday showed that Russias national oil and gas revenue fell 43% year-on-year in March to 617 billion rubles (approximately $7.72 billion), but was up from 432.3 billion rubles in February, affected by falling oil prices and a stronger ruble. Oil and gas revenue is crucial to Russias national budget. Against the backdrop of high military spending, Russias fiscal deficit is projected to reach 5.6 trillion rubles by 2025, accounting for 2.6% of GDP. This revenue accounts for about a quarter of total budget revenue. These revenues are based on payments made by Russian companies up to March 30, corresponding to Februarys production, before the Middle East conflict drove up global oil prices. Revenue is expected to increase starting in April. In the first quarter of this year, revenue was 1.44 trillion rubles, a 45% year-on-year decrease. The budget projects oil and gas sales revenue of 8.92 trillion rubles this year, but current revenue progress is behind this target.April 3rd - According to the Qingmao Border Inspection Station of the Zhuhai Entry-Exit Border Inspection General Station, the Qingmao Port is experiencing a peak in both inbound and outbound passenger traffic as the Qingming Festival holiday approaches. In the week leading up to the holiday, the port saw an average of over 107,000 inbound and outbound passengers per day, an increase of approximately 8% compared to normal days. It is understood that this years Qingming Festival holiday in mainland China is from April 4th to 6th. The public holiday in Hong Kong and Macau is from April 3rd to 7th, lasting five days. Many Hong Kong and Macau residents are choosing to return to their hometowns to pay respects to their ancestors and visit relatives and friends, while mainland tourists are taking advantage of the holiday for short trips for spring outings, sightseeing, and shopping, leading to a new peak in passenger traffic at the Qingmao Port. It is predicted that from April 3rd to 7th, the passenger flow through the Qingmao Port will reach approximately 580,000, with a peak daily passenger flow of 125,000, and the peak traffic is expected to occur on April 4th.On April 3, local time, Kyiv Oblast Governor Kalashnikov announced that the region had been hit by a large-scale missile and drone attack launched by Russia. The attack has resulted in one death and one injury. Local air defense forces have launched air defense operations in the area. Russia has not yet responded.The Polish military stated that military air operations related to the Russian airstrikes on Ukraine have ended; no violations of Polish airspace occurred.

S&P 500 Price Forecast – Stock Markets Continue to See Selling Pressure

Skylar Shaw

Sep 30, 2022 15:09

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Technical Analysis of the S&P 500

Due to the continued strong downward pressure on stock markets, the S&P 500 E-mini contract has been quite bearish throughout Thursday's trading session. In the end, a lot of things are happening all around the globe, and the US dollar is strengthening. The S&P 500 won't do well in that climate, and neither will any other stock index, for that matter. I like fading rallies, and I also enjoy the notion of shorting those who do experience that break down below the 3600 mark.


The S&P 500 will likely have dropped below the 3500 level by then, which is a big, round, psychologically meaningful number. In the end, this is a market that, given enough time, should see a lot of volatility and, therefore, a lot of causes for people to feel uneasy. Nevertheless, bear market rallies have a reputation for being rather nasty, so an occasional snap to the upside is possible.


Given the market's continued exposure to a lot of outside unfavorable impact, they will almost certainly remain selling opportunities. Interest rates, global slowdowns, and a slew of other geopolitical concerns are all producing problems at the moment. In the end, I believe that in this situation, with enough time, we should see significant downward pressure. In light of this, maintain a manageable position size and refrain from going all in on each transaction you make. In a market like this, sound money management is essential.

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