EUR/USD 1.15205
0.058%
Gold 4653.21
-0.487%
Oil 103.290
-0.522%
USD/JPY 159.581
-0.033%
GBP/USD 1.32119
0.139%
GBP/JPY 210.841
0.125%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On April 6, local time, Iran claimed that it launched three rounds of missiles at Israeli territory within 20 minutes. Israel stated that Iran launched at least 10 missiles carrying cluster warheads in the three rounds of attacks.On April 6, Ali Velayati, foreign affairs advisor to Irans Supreme Leader, warned the United States on April 5 that if it "makes another mistake," the Iranian-led resistance front would retaliate by blocking the Bab el-Mandeb Strait. Velayati posted on social media that day: "Today, the unified command of the resistance front views the Bab el-Mandeb Strait as much as the Strait of Hormuz. If the White House makes another foolish mistake, it will soon realize that with just one move, global energy and trade flows can be disrupted."The yield on Japans 20-year government bonds rose to 3.325%.On April 6, a Democratic member of the U.S. House of Representatives warned that U.S. military action in Iran is making the American people "less safe," while also describing Trumps recent profanity-laden rhetoric as "insanity." Jim McGovern, the highest-ranking Democrat on the House Rules Committee, wrote, "When the United States violates international humanitarian law, we are inviting other countries to follow suit. This makes us all unsafe." He noted that international human rights law experts are "raising alarms about U.S. actions in war," including serious violations of the Geneva Conventions and international law, as well as possible "war crimes." In another post, McGovern also described Trumps recent threats as utterly insane and extremely dangerous. "This is simply insanity. The President of the United States needs treatment."On April 6th, following the "Science and Technology Exchange Connect" initiative, the Shenzhen Branch of the State Administration of Foreign Exchange launched another foreign exchange facilitation measure, the "Science and Technology Salary Connect" pilot program. This program focuses on providing convenient two-way foreign exchange services for the salaries of employees of key state-supported units such as high-quality enterprises, universities, and research institutions. This facilitates the cross-border flow of talent in the Guangdong-Hong Kong-Macao Greater Bay Area and supports the construction of Shenzhen as an international science and technology innovation center. It is understood that qualified employees can, through public-private partnerships with their employers, avoid submitting or repeatedly submitting documents when processing salary purchase and settlement transactions at pilot banks. This model integrates relevant foreign exchange facilitation policies, leverages corporate credit enhancement, and significantly improves the efficiency and convenience of cross-border salary processing for employees with foreign work experience, providing high-quality foreign exchange services to support Shenzhens talent attraction efforts.

S&P 500 (SPY) Set For A Sell-Off After Shocking Inflation Data

Alice Wang

Sep 14, 2022 14:24

微信截图_20220914141715.png

Pressure on Stocks Increased by Inflation Data

In premarket trade after the publication of US inflation statistics, S&P 500 futures are down 2.4%.


In August, the inflation rate rose by 8.3% year over year, according to the data, against the consensus estimate of 8.1% among analysts. Analysts had predicted a 0.3% rise, but the Core Inflation Rate increased by 0.6% month over month.


Since many traders thought that reduced oil prices would increase pressure on inflation, the markets were stunned by the inflation statistics. The approaching Fed meeting's anticipations have drastically shifted. According to the FedWatch Tool, there is a 90% chance that rates will go up by 75 basis points at the next meeting, and a 10% chance that rates would go up by a startling 100 basis points.


Unsurprisingly, the U.S. dollar increased after the publication of inflation statistics. The level of Treasury yields increased. At the moment, the yield on 2-year Treasuries is attempting to rise beyond the 3.70% mark.


In today's trade, tech stocks will face significant pressure from increasing Treasury rates and higher inflation. Apple, Microsoft, Alphabet, and Amazon are among the top tech companies with premarket trading losses of between 2 and 3%.


Given that the S&P 500 saw a significant increase in recent trading sessions, the sell-off may be widespread today. It is unclear if any market section will get support from investors.

The S&P 500 Futures Index Dropped Below The 50 EMA

S&P 500 futures have successfully descended below the 50 EMA at 4050 and are now heading in the direction of support around 4015. If S&P 500 is able to go below this mark, it will move toward the next support level, which is at 4000. S&P 500 will be pushed into the support at 3980 if this level is moved below.


In order for the S&P 500 to have a chance of gaining upward momentum in the near future, it must get back above the 50 EMA. The S&P 500's subsequent resistance level is at 4080. If the S&P 500 returns to being above this point, it will move in the direction of the resistance at 4100.

Suggestion