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The SC crude oil futures contract rose by 2.00% intraday, currently trading at 702.30 yuan/barrel; the PTA futures contract rose by more than 2.00% intraday, currently trading at 6042.00 yuan/ton.September 8th - According to data from the General Administration of Customs, Chinas integrated circuit exports reached US$40.731 billion in August, a year-on-year increase of 129.8%; automobile exports reached US$18.33 billion, a year-on-year increase of 43%; rare earth exports reached US$73.5466 million, a year-on-year increase of 33.7%; and mobile phone exports reached US$8.798 billion, a year-on-year increase of 29.6%.On September 8th, YH Cha, a foreign exchange economist at Eugene Investment & Securities, stated that the recent strong rally in the Korean won may eventually subside if it rises to the 1250-1300 range against the US dollar. Strong exports driven by South Koreas semiconductor industry, a large trade surplus, and exporters repatriating dollar revenue have propelled the won to a 23-month high. The won has appreciated by over 12% against the dollar in the past three months. However, the won still faces long-term pressure from continued growth in South Korean personal overseas investment and the resulting increased demand for the US dollar.According to the General Administration of Customs, China imported 6,861.7 tons of rare earths in August, compared with 9,451.3 tons in July.According to the General Administration of Customs, China imported 70,177.8 tons of rare earths from January to August.

Stock Markets Continue to Put Up a Fight

Cory Russell

Jul 13, 2022 16:12

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The S&P 500 initially fell during the trading session on Tuesday but turned around to show signs of life.

Technical Analysis of the S&P 500

The S&P 500 has decreased significantly during Tuesday's trading session as a result of the ongoing disruptive behavior. At this time, it seems as if the market could attempt to rise, but before I consider a rally seriously, we would need to break above the 50 Day EMA. Beyond that, there is also the 4000 level, which has a significant psychological component, and the 4200 level, which has very strong structural resistance.


Alternatively, if we go below the candlestick's bottom during Tuesday's trading session, we might pass through the 3800 level and then fall considerably more. Given enough time, I believe that will happen more often than not, but at the moment, it seems like we are just passing the time and attempting to decide what to do next. It's also important to note that the general economic picture hasn't altered significantly and that all of the impulsive swings have been downward with the rare recovery.

 

Since most traders are ill-equipped to operate in a situation where businesses must really create in order to be rewarded in the market, it seems obvious that equities will continue to lose money as inflation and monetary tightening increase. Because the way the markets work is about to undergo a significant change, I would anticipate quite a bit of erratic behavior over the next several months. I'll still be playing this market by fading rallies.

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