EUR/USD 1.15359
0.068%
Gold 4057.94
-0.474%
Oil 58.125
-0.976%
USD/JPY 156.882
-0.366%
GBP/USD 1.30889
0.127%
GBP/JPY 205.346
-0.231%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
November 21st - Surveys show that Eurozone business activity grew steadily in November, with the services sector expanding at its fastest pace in a year and a half, but weak demand caused the manufacturing sector to contract again. Despite persistent global uncertainty this year, the Eurozone has shown resilience, and improved business confidence suggests this momentum is likely to continue. The Eurozones preliminary composite PMI for November fell slightly to 52.4 from a more than two-year high of 52.5 in October, slightly below the expected 52.5, but this marks the 11th consecutive month the index has remained above the 50 threshold, indicating continued economic expansion. Cyrus de la Rubia, chief economist at Commerzbank Hamburg, stated, "The Eurozones services sector is a ray of hope. While business activity in Germany has slowed significantly, service providers in France have resumed growth. Overall, the Eurozone continues to maintain a relatively robust pace of expansion. Although manufacturing dragged down overall growth, the Eurozones overall growth rate in the fourth quarter was faster than in the third quarter due to the high weight of the services sector in the overall economy."The Eurozones November manufacturing PMI preliminary reading came in at 49.7, a five-month low; the Eurozones November services PMI preliminary reading came in at 53.1, an 18-month high; and the Eurozones November composite PMI preliminary reading came in at 52.4, a two-month low.The Eurozones November services PMI preliminary reading was 53.1, below the expected 52.8 and the previous reading of 53.The Eurozones preliminary composite PMI for November was 52.4, below the expected 52.5 and the previous reading of 52.5.The Eurozones preliminary manufacturing PMI for November was 49.7, below the expected 50.2 and the previous reading of 50.

S&P 500 Price Forecast – S&P 500 E-mini Testing a Major Trend Line

Jimmy Khan

Dec 02, 2022 16:25


Technical Analysis of the S&P 500

Following the release of the PCE statistics, which showed a 0.3% month over month increase, the S&P 500 E-mini contract had some bumpy trading on Thursday. As we test the big downtrend line that we have been heading toward for some time, the market is still still likely to experience significant volatility.


Additionally, you should keep in mind that the Friday release of the jobs report will undoubtedly have an impact on this market and may lead to significant volatility. Pullbacks at this time make some sense, but if that number is a little disappointing, we might potentially see a significant breakout.


The 200-Day EMA, which is currently at the level of 4024, ought to provide dynamic support. I believe it is highly likely that we would decline to the 3950 level if we were to break down below that level.


Remember that we might be witnessing the start of the "Santa Claus rally," which occurs at the end of the year when money managers attempt to sell their books to make up for mistakes made over the year. It is still up for debate as to whether or not it will actually transpire because it is not required.


Jerome Powell played a significant role in yesterday's events because of his speech's balance, which Wall Street naturally saw as being exceptionally dovish. We've seen this before, and usually what happens is that US markets will rise briefly before falling back again.

Suggestion