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On August 27th, according to the Financial Times, Israel is considering expelling British and other European officials from the US-led Gaza Reconciliation Center in retaliation for their criticism of the Netanyahu governments policies on Palestinian territories. Sources indicate that the Israeli government has discussed expelling Britain from the International Gaza Support Center (IGSC) in recent weeks. This center is a multinational coordination headquarters established to monitor the US-brokered ceasefire agreement between Israel and Hamas. Israel has also considered similar measures against Italy and Germany. Headquartered in southern Israel, the IGSC is led by US military officials who work with the Israel Defense Forces and dozens of military and diplomatic officials from approximately 50 countries and international organizations. Israeli Foreign Minister Saar announced this week the expulsion of the Dutch representative from the center because the Netherlands decided to boycott products from Israeli settlements in the occupied West Bank, East Jerusalem, and the Golan Heights. Israel also expelled the Spanish representative from the IGSC this year, citing "persistent anti-Israel bias."On August 27th, Qantas Group released its 2026 fiscal year annual report, showing that its after-tax profit fell by nearly 20% year-on-year due to increased fuel costs driven by the Middle East conflict. The report showed that for the fiscal year ending June 30th, the groups pre-tax profit was A$2.06 billion (approximately US$1.40), a decrease of 13.8% year-on-year; after-tax profit was A$1.29 billion, a decrease of over 19% year-on-year. Qantas Group CEO Vanessa Hudson said that the groups fuel costs increased by A$610 million in the fiscal year due to higher fuel prices caused by the Middle East conflict.According to the Financial Times, Israel is considering expelling British officials from its post-war Gaza headquarters. The Israeli government has discussed removing Britain from the International Gaza Support Centre in recent weeks.According to the Financial Times, EU countries are restarting their plans to use frozen Russian assets to aid Ukraine.August 27th - From 8:00 AM on August 26th to 8:00 AM on August 27th, according to monitoring by the Guangxi Hydrological Center, heavy to torrential rain fell in parts of Beihai, Nanning, Yulin, Hechi, Fangchenggang, Qinzhou, and Chongzuo, with localized areas experiencing extremely heavy rain. The highest daily rainfall was recorded in Pingyang Town, Yinhai District, Beihai City, at 147.5 mm. As of 8:00 AM on the 27th, 16 stations on 10 rivers in Guangxi, including the Zuojiang River and its tributary Kelan River, the Mingjiang River and its tributary Pailian River, and the Yujiang River and its tributary Qinglongjiang River, were still above warning levels by 0.10 to 7.47 meters. The Guangxi Hydrological Center predicts that in the next 24 hours, the water level of the Yujiang River from Nanning city to Guigang city will continue to rise by 0.2 to 0.5 meters, with the Nanning city section of the Yujiang River (warning level 73.0 meters) expected to exceed the warning level by about 2.3 meters. The Qingshui River, Diaojiang River, and Beizhijiang River, tributaries of the Hongshui River, and the Mengjiang River and Liyujiang River, tributaries of the Yujiang River, may experience water level rises of 1 to 4 meters, with some sections potentially exceeding warning levels. Some small and medium-sized rivers in Nanning, Guigang, Laibin, Fangchenggang, Qinzhou, Beihai, and Hechi cities may also experience floods exceeding warning levels.

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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