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The onshore yuan closed at 6.7674 against the US dollar at 16:30 on July 27, up 70 points from the previous trading day.Hong Kongs trade balance in June was -HK$51.952 billion, compared to -HK$44.2 billion in the previous month.Hong Kongs exports grew at an annual rate of 53.4% in June, compared with 40.80% in the previous month.Hong Kongs imports rose 45.4% year-on-year in June, up from 42.00% in the previous month.July 27th, Futures News: Key issues such as Irans control of the Strait of Hormuz and its missile and nuclear programs remain unresolved, and any ceasefire is highly likely to be temporary, leaving geopolitical risks still volatile. While international oil prices have recently seen a wider decline, the possibility of unforeseen black swan events cannot be ruled out. The fundamentals of refined oil products remain weak, and with the end of the month approaching, major oil companies are facing increased sales pressure, leading to a decline in inflated prices. However, the continued policy of major oil companies limiting sales and the high raw material costs for local refineries will provide support for the bottom prices of gasoline and diesel. It is expected that domestic gasoline and diesel prices will fall and then stabilize this week, mainly fluctuating in line with crude oil trends. Due to short-term emotional disturbances in international oil prices, the recent correction is temporary, significantly increasing the uncertainty surrounding the future trend of refined oil products.

S&P 500 Price Forecast – Stock Markets Give Up Early Gains

Cory Russell

Dec 29, 2022 14:37


Technical Analysis of the S&P 500

Initially attempting to rise during Wednesday's trading session, the S&P 500 eventually gave up gains and lost momentum due to the thin markets' lack of current interest. The 3800 level underneath should be sustained, but if we decline below that, it would be possible to slide considerably lower, maybe as low as the 3700 level.


At this point, rallies ought to be fading, therefore the 3900 level and the 50-Day EMA can serve as a ceiling from which to resume shorting. When signs of fatigue start to surface, they will be pounced on, and I won't think twice about shorting them. Because of this, I believe that the market will continue to be negative, although it's possible that unreliable money managers may attempt to pad their books towards the end of the year. This is a frequent occurrence since they must at least demonstrate to their customers that they possess the "proper stocks."


It appears like Wall Street will sometimes need a reminder that the Federal Reserve is dead serious, which is an issue that the Federal Reserve itself caused by coddling traders for 14 years, so I believe it's just a matter of time until we continue to go lower. In light of this, I am prepared to short this market gradually during rallies and when it begins to show symptoms of tiredness. However, at this time of year, I am not expecting for large swings, so you must see this through the lens of short-term trading.

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