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March 19 – On the afternoon of March 19, the Ministry of Commerce held a regular press conference. A reporter asked how China would participate in the 14th Ministerial Conference of the World Trade Organization (WTO), which will be held at the end of this month. In response, Ministry of Commerce spokesperson He Yongqian stated that the 14th WTO Ministerial Conference (MC14) will be held in Yaoundé, the capital of Cameroon, from March 26 to 29, and Minister of Commerce Wang Wentao will lead the Chinese delegation to attend.On March 19th, it was reported that on March 17th, Zhu Hexin, Secretary of the Party Leadership Group and Director of the State Administration of Foreign Exchange (SAFE), chaired an enlarged meeting of the Party Leadership Group. The meeting focused on deepening reform and innovation in the foreign exchange sector. It emphasized improving the facilitation of cross-border trade and actively supporting the stability and structural optimization of foreign trade. The meeting stressed strengthening the supply of foreign exchange policies, focusing on key areas such as technological innovation and intelligent manufacturing, and continuing to focus on the "five major aspects" of financial development. It also emphasized strengthening the assessment of foreign exchange policies and regional foreign exchange ecosystems, conducting timely effectiveness assessments of important foreign exchange policies and key tasks, and striving to achieve closed-loop management throughout the entire process from policy issuance to the "last mile" of impact on enterprises and residents, truly benefiting businesses and the people.On March 19, it was reported that on March 17, Zhu Hexin, Secretary of the Party Leadership Group and Director of the State Administration of Foreign Exchange, chaired an enlarged meeting of the Party Leadership Group. The meeting emphasized the unwavering commitment to promoting high-level opening-up in the foreign exchange sector. It called for enhancing the openness of the capital account, improving policies on overseas lending and integrated RMB and foreign currency pooling for multinational corporations, and supporting better expansion of international circulation. The meeting also stressed the need to promote the development of the foreign exchange market and improve corporate exchange rate risk management. Furthermore, it called for deepening reforms in banks foreign exchange business to achieve a balance between facilitating foreign exchange transactions and preventing risks.March 19th - On March 17th, Zhu Hexin, Secretary of the Party Leadership Group and Director of the State Administration of Foreign Exchange, chaired an enlarged meeting of the Party Leadership Group. The meeting focused on improving in-process and post-process supervision in the foreign exchange sector. It emphasized enhancing off-site supervision capabilities through technological empowerment, strengthening the analysis of abnormal channels and clues, and continuously cracking down on illegal cross-border financial activities.Singapores fuel oil inventory for the week ending March 18 will be released in ten minutes.

Stock Markets Have Wild Right After the Inflation Number

Cory Russell

Jul 14, 2022 14:49

Technical Analysis of the S&P 500

Due to higher than expected inflation data in the United States, the S&P 500 has been all over the place during trading on Wednesday. This does imply that there will likely be a lot of uncertainty moving forward, and as a result, there will probably be a lot of volatility, which is nothing new in this market. Considering that the market has recovered very well, it is probable that there will still be concerns about our future direction.


The 50 Day EMA breaking below it and moving lower makes the 4000 level above a significant resistance barrier. As a result of the market's definite downturn, I believe it will continue to be a source of considerable anxiety. We can eventually take it below the 3750 threshold. In the end, I believe there is significant negative pressure on this market that might lead to a move to the lows around the $3637 level. The market will collapse if we break down below that level.


Alternately, if we break through the 4000 level, we may try to climb as high as the 4200 level. I anticipate paying great attention to the 4200 level because I think it may provide a chance for the market to make a full recovery. However, despite the fact that Wall Street will almost surely come up with some kind of story to finally drive things higher, I don't see that occurring.

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