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The preliminary reading of Frances June CPI will be released in ten minutes.On June 30, Wang Yifei, spokesperson for the China Council for the Promotion of International Trade (CCPIT), stated at a CCPIT press conference that in May 2026, the CCPIT system nationwide issued a total of 717,000 certificates of origin, ATA Carnets, and commercial certificates, representing a year-on-year increase of 12.14%. Among these, the value of non-preferential certificates of origin issued by the CCPIT system nationwide reached US$30.256 billion, a year-on-year increase of 14.36%; the number of certificates issued was 357,200, a year-on-year increase of 5.99%. The value of preferential certificates of origin issued by the CCPIT system nationwide reached US$11.066 billion, a year-on-year increase of 43.89%; the number of certificates issued was 310,800, a year-on-year increase of 32.26%. "The continued substantial increase in the value of certificates of origin issued by the national trade promotion system fully reflects the strong performance of my countrys foreign trade imports and exports, maintaining a stable growth trend overall. At the same time, it also reflects my countrys active efforts to deepen pragmatic cooperation with global economic and trade partners, the growing circle of friends of foreign trade enterprises, and the competitive innovation of my countrys foreign trade products and business models, demonstrating strong resilience and vitality," said Wang Yifei.Gold prices declined on June 30th, poised for their biggest monthly drop since October 2008. Quarterly, gold is also expected to record its first decline since 2024, with the largest drop since the second quarter of 2013. While the situation in the Middle East remains uncertain, the market is now more concerned about the extent to which the US will try to control inflation. Marex analyst Edward Meir stated that the current combination of high inflation, high interest rate expectations, and a strong dollar has suppressed the usual reasons supporting gold price increases. OCBC precious metals strategist Christopher Wong pointed out that gold bulls need to see at least one turning point—a decline in real yields, a weaker dollar, or a significant fading of market expectations regarding a hawkish stance from the Federal Reserve. Until then, the rebound in gold prices is unlikely to be sustainable, and it is more likely to fluctuate and consolidate below previous highs.European Central Bank Chief Economist Lane: Oil price futures curves indicate that oil prices will remain at high levels in the coming years, which means that economic costs will rise.The yield on Japans two-year government bonds fell 4 basis points to 1.355%.

S&P 500 Price Forecast – Stock Markets Look Skittish

Florala Chen

Nov 29, 2022 16:04

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Technical Analysis of the S&P 500

The key downtrend line that I've noted on the chart and the 200-Day EMA are both obstacles that the S&P 500 has fallen a little bit against during Monday's trading session. It's crucial to note that we are hovering around the level of 4,000, which is a psychologically significant area.


Remember that there are many worries about a recession and a loss of income, which will almost probably be a significant issue. This market might attempt to drop back down to the 3900 level, an area that has previously been supported, if we break down below the 4000 level. The 50-Day EMA, which is now at the 3886 level, might be reached if there is a breakdown below that level. 

Anything below there might aggressively resume the longer-term downtrend.


On the other hand, if we were to reverse course and start moving upward, clearing the daily downtrend line on a daily candlestick, it's probable that this market would attempt to move to the 4150 level and then the 4200 level. 


Nevertheless, as we attempt to determine our course for the remainder of the year, I believe the one thing you can probably bet on is a lot of choppy and noisy behavior. Additionally, money managers have a natural inclination to purchase equities at the end of the year to demonstrate to their clients that they are keeping onto the right investments. The December Federal Reserve meeting, though, will mostly eclipse everything.

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