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On January 20th, US President Trump posted on social media: "It is appalling that our brilliant NATO ally, the United Kingdom, is now planning to hand over Diego Garcia—home to a vital US military base—to Mauritius, without any justification. This is an incredibly foolish act by the UK to relinquish such important territory, and yet another example of the national security justification for us to reclaim Greenland. Denmark and its European allies must make the right choice." The Chagos Archipelago, located in the heart of the Indian Ocean, holds a crucial geographical position. Its core island, Diego Garcia, is a vital military base jointly built and operated by the US and UK. Last May, British Prime Minister Starmer signed an agreement formally transferring sovereignty of the Chagos Archipelago to Mauritius. As a key Anglo-American military base in the Indian Ocean, the Diego Garcia military base in the Chagos Archipelago played a crucial role in the Gulf War, the Afghan War, and military deterrence against Iran, and was considered an "unsinkable aircraft carrier" for the Anglo-American forces in the central Indian Ocean.According to a report by Kyodo News citing the Japanese Ministry of Foreign Affairs, Japanese Prime Minister Sanae Takaichi has received an invitation to join Trumps Gaza Peace Committee.On January 20, Xiong Jijun, Vice Minister of Industry and Information Technology, met with Colombian Vice Minister of Information Technology and Communications, Perdomo, in Beijing to exchange views on deepening industrial cooperation in the information and communication field. Xiong Jijun stated that China and Colombia have maintained friendly cooperation in the information and communication sector for a long time, achieving fruitful results and making positive contributions to the development of the China-Colombia strategic partnership. China is willing to work with Colombia to fully implement the consensus reached at the meeting between the two heads of state, encourage enterprises from both countries to deepen pragmatic cooperation, broaden the scope of industrial cooperation, jointly promote the construction of digital infrastructure, accelerate the innovative development of emerging technologies, and create a new situation of win-win cooperation.A Polish military spokesperson stated that Russias attacks on Ukraine posed no threat to Polish airspace.On January 20th, Investinglive analyst Justin Low stated that gold bulls could hardly believe their luck at the start of the new year. And its all thanks to one person. In the first week, geopolitical tensions stemming from Venezuela continued to escalate. In the second week, the Federal Reserves independence was questioned, and the Iranian issue brought new geopolitical risks. This week, Trump attempted to control Greenland through tariffs, further intertwining geopolitical conflicts and economic risks. All of this has only exacerbated the key factors that have driven gold prices higher over the past year. As prices continue to rise, the $5,000 mark will become the next closely watched target. This important price level will be a key focus for any profit-taking, especially if this coincides with the seasonal weakening trend in January.

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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