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The Hang Seng Index in Hong Kong opened on April 3 (Thursday) down 564.32 points, or 2.43%, to 22,638.21 points; the Hang Seng Technology Index opened on April 3 (Thursday) down 168.53 points, or 3.11%, to 5,257.91 points; the CSI 300 Index opened on April 3 (Thursday) down 219.05 points, or 2.57%, to 8,312.46 points; the H-share Index opened on April 3 (Thursday) down 61.24 points, or 1.59%, to 3,800.76 points.USD/CNY reported 7.1889, up 96 points (RMB depreciation); EUR/CNY reported 7.8414, up 588 points; HKD/CNY reported 0.92353, up 8.6 points; GBP/CNY reported 9.3903, up 740 points; AUD/CNY reported 4.5185, down 188 points; CAD/CNY reported 5.0650, up 142 points; JPY/CNY reported 4.8767, up 543 points; RMB/RUB reported 11.6222, down 103 points; NZD/CNY reported 4.1367, up 77 points; RMB/RMB reported 0.61947, up 27.1 points; CHF/CNY reported 8.1915, up 424 points; SGD/CNY reported 5.3478, down 143 points.Hang Seng Index futures opened down 2.64% at 22,600 points, 624 points below the water level.On April 3, James Surowiecki, a famous financial journalist, wrote that he had just figured out where these false tariff rates in the United States came from. They dont actually calculate tariff rates + non-tariff barriers as they say. Instead, for each country, they just divide the US trade deficit with that country by the countrys exports to the United States. So the United States has a $17.9 billion trade deficit with Indonesia, and its exports to the United States are $28 billion, $17.9/$28 = 64% (the United States imposes a 32% reciprocal tariff on Indonesia), and Trump claims that this is the tariff rate imposed by Indonesia on the United States. What a ridiculous thing. Netizens found that similar calculations apply to the European Union and Vietnam.According to a CNN interview: U.S. Treasury Secretary Bessant said that other countries are advised not to retaliate against U.S. tariffs to avoid (tariff) escalation.

The US Stock Market Continues to Pull Back

Skylar Shaw

Apr 02, 2022 11:25

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S&P 500 Technical Analysis

On Friday, the S&P 500 sought to climb in the futures markets but gave back gains, indicating weakness. As a result, the market currently threatens the 4500 level in the futures market, which has previously been a key sector. As a result, it'll be fascinating to watch whether we can pull back much farther, possibly to the 50 Day EMA.


The candlestick's magnitude isn't particularly impressive, but it appears like the 4500 goal I suggested before will be tested. If we break it down further, the 50 Day EMA, which is at the 4400 level, makes a lot of sense, followed by the 200 Day EMA, which is also at that level. 


The market is still highly loud, and I believe it will continue to be so in the future. After all, there are a slew of confusing signals at the present, not least in the bond market, where many traders anticipate we'll see as many as eight interest rate hikes, while others say it's impossible.


Find a reason to go higher, but this is due to the fact that it is unconcerned about the underlying economy. Keep in mind that stock markets are about liquidity more than anything economic. If it were the case, the latest straight-up-in-the-air photo would not have taken place. 


That said, savage rallies are common in bear markets, so, while hope springs eternal, I'll be betting on the downside through options rather than directly in the market.