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On March 31, Foreign Ministry Spokesperson Mao Ning stated at a regular press conference that world cultural heritage is a precious asset of all humankind. China deeply regrets the damage suffered by Irans cultural relics and historical sites during the war and urges all warring parties, especially the United States and Israel, to immediately and comprehensively cease military operations, initiate dialogue and negotiations as soon as possible, and end this war that should never have happened.According to the Iraqi state news agency, the drone crashed in an open area of the West Qurna 1 oil field in Iraq without exploding.On March 31, Foreign Ministry Spokesperson Mao Ning held a regular press conference. A reporter asked, "China has announced the visit of Pakistani Deputy Prime Minister and Foreign Minister Dar to China. This is Deputy Prime Minister and Foreign Minister Dars second visit to China in three months. Is this visit related to the recent situation in Iran?" Mao Ning stated that China and Pakistan are all-weather strategic cooperative partners who trust and support each other. The two countries share similar positions and maintain close communication on major international and regional issues. "I believe that the two foreign ministers will strengthen strategic communication and coordination on international and regional issues of common concern, such as the situation in Iran, jointly voice their support for peace and justice, and make new efforts to promote peace and stop wars, and maintain regional peace and stability."Indonesian Deputy Speaker urges the public not to hoard fuel, as oil prices will remain unchanged.Lukoil: Russias natural gas production will decline by 4% to 17.4 billion cubic meters in 2025.

S&P 500 Price Forecast – S&P 500 E-mini Contract Spikes After CPI

Florala Chen

Dec 14, 2022 14:32

Technical Analysis of the S&P 500

The lower-than-expected CPI statistics caused the S&P 500 E-mini contract to soar quite a little during Tuesday's trading session. As a result, it appears like the market is attempting to price in a weaker monetary policy. At the end of the day, we still need to consider the Federal Reserve meeting that will take place on Wednesday. The statement from that meeting will undoubtedly have a significant impact on what occurs next.


In the end, it appears that the market swiftly reconsidered the entire scenario after realizing that the chairman of the Federal Reserve will likely attempt to reduce risk appetite. In spite of being lower than expected, the CPI statistic is still a scorching 7.1% year-over-year. Since that is still unsatisfactory, I believe the Fed will try to take some action to reduce risk appetite and, as a result, lower inflation.

The market might attempt to breach the 4200 level, though, if Jerome Powell fumbles the conference, which is a possibility. As we approach the end of the year, things could spiral out of control due to that area's likely "melt up" in the S&P 500 and, of course, a shortage of liquidity. All things being equal, we are at a key turning point for the upcoming few months, and tomorrow, Jerome Powell will be in the spotlight. Over the coming sessions, if we decline below the 50-Day EMA, it might trigger a significant breach.

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