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The main contract of SC crude oil fell 4.00% during the day and is now trading at 468.00 yuan per barrel.On May 15, IG Markets analyst Tony Sycamore said that Australias strong employment data in April once again reminded people that the job market is resilient. However, with inflation returning to the RBAs target range, coupled with high tariffs that pose downside risks to global economic growth, the RBA is still expected to cut interest rates at next weeks meeting. Since the release of the employment report, interest rate market traders have slightly reduced the probability of a 25 basis point rate cut next week from 90% to 80%.Sources said Japan is seeking to hold a third round of U.S.-Japan trade talks next week.May 15th, the Asia-Pacific Economic Cooperation (APEC) warned on Thursday that the regions exports will hardly grow this year amid the backdrop of increased tariffs imposed by the United States. At the same time, APEC, which consists of 21 member countries, began its annual trade ministerial meeting. APEC released a regional trend analysis report, predicting that the regions exports will grow by only 0.4% this year, compared with 5.7% last year. APEC also lowered its regional economic growth forecast for this year from 3.3% to 2.6%. "APECs trade growth will decline significantly due to declining external demand, especially for manufacturing and consumer goods, while at the same time, rising uncertainty surrounding commodity-related measures has also put pressure on trade in services," APEC said in a statement.New York gold futures fell 1.00% during the day and are now trading at $3,156.20 an ounce.

S&P 500 Price Forecast – Stock Markets Await Slew of News

Alice Wang

Dec 01, 2022 15:43

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Technical Analysis of the S&P 500

As the world waits for Jerome Powell's speech, the Core PCE statistics, and of course Friday's jobs report, the S&P 500 has been rather calm during the day on Wednesday. It's not a big surprise to see that individuals were taking a little break because all of this might lead to a lot of volatility. At this point, I believe it might make some sense for us to wander around aimlessly while seeking for a path.


Given enough time, I do believe that the market will have to move, and I have a sneaking suspicion that Jerome Powell may disappoint some.


However, if we were to break through the 4050 level, I believe we could move up to the 4100 level and perhaps the 4200 level in the storied "Santa Claus rally" that people look forward to each year.


However, if we fall below this level of 3900, we can experience a fast decline toward 3800. Remember that there are a lot of moving parts in the world right now, and that many people are naturally worried about the global growth outlook, which is, to put it mildly, not very healthy. Everyone is aware that a recession is imminent, but some financial channels are currently making the absurd claim that the recession "has already been priced in." Although that is gibberish, it is what you are hearing on the radio.

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