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US President Trump: Americans are paying higher gasoline prices, but its a "very cheap price" relative to what the US has achieved.On September 17, the Hong Kong Monetary Authority (HKMA) announced a 25 basis point increase in its benchmark interest rate to 4.25%. This is the first adjustment to the benchmark interest rate by the HKMA since 2023, ending a period of interest rate stability. This rate hike is a direct response to the Federal Reserves policy change on the same day. The HKMA stated explicitly that following the Feds policy is to maintain the Hong Kong dollars peg to the US dollar. Under this system, the Hong Kong dollar is pegged to the US dollar, and Hong Kongs monetary policy must be linked to the US to ensure exchange rate stability. Despite the increase in the benchmark interest rate, the market remains cautious about the actual changes in local credit costs in Hong Kong. As is customary, major Hong Kong banks typically announce their own interest rate adjustment plans later that day after the HKMAs adjustment, with changes to the prime lending rate being particularly crucial.Multiple explosions were heard in Kyiv, Ukraine, in the early hours of September 17 local time.US President Trump: (Regarding Iran) I predict the war will end soon, and the government has transformed the United States from a “dark age” to a “golden age.”September 17th - US President Trump: "That war? That war will be over soon. Just watch. You just watch. Trump is right about everything. You just watch. They are being destroyed. They (Iran) very much want a deal. They call and say, We want a deal!"

S&P 500 Price Forecast – Markets Grind Away as We Exit 2022

Alice Wang

Dec 30, 2022 16:07

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Technical Analysis of the S&P 500

The S&P 500 hasn't changed much throughout Thursday's trading session as we continue to just hover over the 3800 mark. There's no real incentive to be too clever with this and attempt to put on large holdings on the way out the door since this market will be suffering from a lack of liquidity.


Because individuals will be waiting for the jobs figure at the end of the next week before investing money, it's extremely likely that the upcoming few sessions will be very quiet. That is the second important core reason to participate, but obviously not everyone will immediately return to their desks on January 2.


Given that the market seems to favor the downside, I am going to be fading short-term rallies as soon as they start to show indications of weariness in order to profit from any potential swings. I believe that if we can go below the 3800 level, we may reach the 3600 level. On the upside, the 200-Day EMA and the downward moving line are both located close to the 4000 level.


If we can get over all of that, we may be able to climb higher, but I believe it would need a significant mental adjustment. To be very honest, I believe that current market is more of a "fade the rally" sort of scenario. Since we have been descending for some time, I don't anticipate any change in the near future.

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