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February 17th - Analyst Eamonn Sheridan: The Reserve Bank of Australias (RBA) February meeting minutes are expected to reinforce its case for resuming tightening, highlighting persistent inflation, strong demand, and continued capacity pressures, but without indicating any major shift from previously provided policy guidance. The logic behind the RBAs decision to raise interest rates for the first time in over two years will be detailed in the February monetary policy meeting minutes. The minutes are unlikely to offer significant new information; market focus will be on subtle details. Investors will scrutinize the extent to which the committee emphasized strong demand, a tight labor market, and capacity constraints in the overall economy. Previous communications have indicated that private demand has exceeded previous forecasts, while supply capacity remains constrained, exacerbating price pressures. The minutes are likely to reinforce the policys data-dependent and tightening stance. Further rate hikes remain a realistic possibility if demand growth exceeds supply and inflation fails to ease effectively.February 17th - A Russian diplomatic source stated late on the 16th that a Russian delegation led by Presidential Aide Medinsky had departed and was expected to arrive in Geneva, Switzerland, early on the 17th to participate in trilateral talks between Russia, the United States, and Ukraine. Bilateral contacts between Russia and Ukraine are possible during the talks. The source said the Russian delegation would arrive in Geneva around 6:00 AM local time on the 17th. The US is technically involved in coordinating the necessary permits for the Russian delegations arrival in Geneva via the EU. The source said the trilateral talks plan to discuss key factors in resolving the Ukrainian issue, including military, political, and humanitarian issues. The duration of the talks is currently unknown. Bilateral contacts between Russia and Ukraine are possible during the Russia-US-Ukraine talks.BHP Billiton (BHP.N): Optimistic about the economic backdrop supporting key commodities.BHP Billiton (BHP.N): The Escondida copper mine is expected to produce between 1 million and 1.1 million tons in fiscal year 2027.BHP Billiton (BHP.N) reported a net profit of $5.64 billion for the first half of the year, up 28% year-on-year; revenue for the first half was $27.902 billion, higher than the market estimate of $26.907 billion.

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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