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On January 29, Premier Li Qiang and British Prime Minister Keith Starmer jointly attended the closing ceremony of the China-UK Business Council meeting at the Great Hall of the People in Beijing and delivered speeches. More than 110 representatives from Chinese and British enterprises and institutions attended. Li Qiang stated that China and the UK are important economic and trade partners with broad common interests. As long as both sides adhere to mutual respect, move in the same direction, eliminate interference, and cooperate openly, they can achieve win-win results and create common prosperity through mutual benefit. Currently, unilateralism and protectionism are on the rise, and geopolitical conflicts are intensifying, severely impacting the world economy and business development. Against this backdrop, China and the UK should continue to uphold the "ice-breaking spirit" and strengthen cooperation ties. This is not only a rational choice for both countries to cope with risks and promote common development, but also a due responsibility for China and the UK as major powers to work together to solve global problems.January 29th - Canadas trade deficit widened more than expected, driven by increased volatility in gold exports and declines in both imports and exports of motor vehicles and parts. Statistics Canada reported on Thursday that the countrys trade deficit reached C$2.2 billion in November. Economists had previously predicted a deficit of C$690 million. The agency stated that total exports fell 2.8% in November, with exports of metal and non-metallic mineral products experiencing the largest drop at 24.4%. This was primarily dragged down by a 36% decline in exports of unwrought gold, silver, platinum, and their alloys. The report noted that gold has been the main driver of volatility in Canadian exports in recent months. In November, Canadian exports of unwrought gold to the UK, the US, and Hong Kong all declined sharply.The U.S. trade deficit widened by the largest margin since 1992.The final reading of U.S. nonfarm unit labor costs for the third quarter was -1.9%, compared to an expected -1.90% and a previous reading of -1.90%.The number of Americans filing for unemployment benefits for the week ending January 24 was 209,000, compared with an expected 205,000 and a revised 210,000 for the previous week.

S&P 500 Price Forecast – Stock Markets Continue to Worry About Rates

Jimmy Khan

Feb 22, 2023 16:31


Technical Analysis of the S&P 500

The S&P 500 E-mini contract started overnight trading poorly and hasn't been making a lot of sense. Yet, the contract's high level of volatility persists, and as a result, downward pressure is beginning to build. It's important to note that the 200-Day EMA and the 50-Day EMA are located immediately below. Given that they are both rather flat, there may not actually be any momentum.


As it is slightly above the psychologically and structurally significant 4000 level, this may pave the way for a support level to develop in that approximate area. You must keep in mind that earnings season is now underway because it could cause the market to fluctuate. The moving averages and the psychologically significant 4000 level, if we were to break down below them, might drive the futures market and the index itself significantly lower.


It thus creates the chance of a decline down to the 3900 level, where we had experienced some buying pressure. Following that, there comes the 3800 level, which is considerably more significant and will get a lot of attention. When it comes to whether or not the market can save itself, we would be in that general area hanging on by a thread.


The previous two candlesticks have undoubtedly looked pretty bearish, and I think that may have some momentum built up in it. If the market were to flip around and bounce, then it may try to move towards the 4200 level. The minutes from the Federal Open Market Committee meeting, which are released on Wednesday, will undoubtedly also be relevant. This ought to provide traders a good indication of what the Federal Reserve members discussed during the meeting and whether or not there is an overall hawkish mindset or if there are any ice cracks appearing. This will have a significant impact on the market.

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