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On June 17, Shanghai Mayor Gong Zheng met with Myanmar President Min Aung Hlaing. Min Aung Hlaing said that when discussing China, one cannot ignore Shanghai, Chinas most economically vibrant city, which has achieved remarkable results in various fields such as industry, trade, finance, and shipping. He was pleased to visit Shanghai again. He noted the long-standing friendship between Myanmar and China, the solid and robust good-neighborly partnership, and the vast potential for cooperation. He expressed his hope to strengthen all-round cooperation with China, further deepen economic and trade investment exchanges, and welcomed more Shanghai enterprises to invest and do business in Myanmar, better benefiting the people of both countries.June 17th - Not only are 3-year and 5-year fixed deposits fading away, but even 2-year fixed deposits are being removed from banks offerings. Chongqing Fumin Bank recently issued an announcement regarding the suspension of new deposit applications for its 2-year and longer fixed deposit and renewal products. The announcement states that starting June 15th, new deposit applications for 2-year and longer fixed deposit products through the banks mobile banking app, WeChat mini-program, and other online channels will be suspended. This also means that Chongqing Fumin Bank has temporarily suspended the sale of all medium- and long-term deposits through its online channels. Industry insiders say that banks are removing medium- and long-term fixed deposits mainly due to weak growth in high-quality credit assets, coupled with the unsustainability of high-interest deposit-gathering models, leading institutions to proactively reduce high-cost, long-term liabilities.June 17 - Industry sources indicate that Russia is attempting to address a gasoline shortage following massive drone attacks on its refineries and plans to import fuel by sea this month. This is a rare move for Russia, one of the worlds largest exporters of oil and refined products. Russia is expected to receive a cargo of gasoline through a port in its west in June. Russias domestic supply this year has been hampered by months of drone attacks from Ukraine, which has continued to target Russian refineries, pipelines, and fuel storage facilities. Recent attacks included the Taneko and Moscow refineries, both of which suspended processing operations. Sources suggest that due to logistical problems and high prices, importing by sea may only be a temporary measure and is unlikely to provide a significant supply.G7 leaders call for coordinated action to address global imbalances.G7 Leaders: We reaffirm our existing G7 exchange rate commitments.

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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