EUR/USD 1.15207
0.060%
Gold 4646.28
-0.636%
Oil 103.145
-0.662%
USD/JPY 159.550
-0.052%
GBP/USD 1.32115
0.136%
GBP/JPY 210.794
0.103%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
According to the China Cotton Information Centers weekly report on the Chinese cotton market on April 6th, the following points were observed: 1. Price Dynamics: The average settlement price of the Zhengzhou cotton futures main contract for the week of March 30th-April 3rd was 15,331 yuan/ton, basically unchanged from the previous week. The average settlement price of the New York cotton futures main contract was 70.47 cents/lb, up 2.10 cents/lb from the previous week, a rise of 3.1%. Domestic cotton prices were 3,244 yuan/ton higher than international cotton prices, with the price difference narrowing by 382 yuan/ton compared to the previous week. The average market price of domestic C32S carded yarn was 22,285 yuan/ton, up 92 yuan/ton from the previous week, a rise of 0.4%. 2. Macroeconomic Situation: The escalating situation in the Middle East exacerbated concerns about global stagflation, with New York crude oil futures breaking $110 for the first time in four years. A report from the United Nations Conference on Trade and Development showed that the average daily ship traffic through the Strait of Hormuz plummeted by 95% month-on-month in March. Domestically, the manufacturing PMI returned to expansion territory in March to 50.4%, indicating a slight recovery in economic activity. 3. Supply and Demand Situation: The International Cotton Advisory Committees April report increased its global cotton production forecast for 2026/27 by 100,000 tons to 24.9 million tons. The USDAs intended cotton planting area in March was 9.64 million acres, a 3.9% year-on-year increase, but drought conditions currently affect 90% of major producing areas. As of April 2nd, the national cotton sales rate was 81.3%, a 16.7 percentage point increase year-on-year. New orders for downstream textile companies have weakened slightly, and some companies have seen a decline in operating rates. 4. Market Outlook: The expectation of tight supply in the new year and domestic policies to expand domestic demand provide strong support for the domestic cotton market. It is expected to continue its range-bound trading pattern in the near term, requiring close monitoring of spring planting weather in the Northern Hemisphere and factors such as the US-China trade negotiations.Japans Topix index rose 1% on the day.On April 6, local time, Iran claimed that it launched three rounds of missiles at Israeli territory within 20 minutes. Israel stated that Iran launched at least 10 missiles carrying cluster warheads in the three rounds of attacks.On April 6, Ali Velayati, foreign affairs advisor to Irans Supreme Leader, warned the United States on April 5 that if it "makes another mistake," the Iranian-led resistance front would retaliate by blocking the Bab el-Mandeb Strait. Velayati posted on social media that day: "Today, the unified command of the resistance front views the Bab el-Mandeb Strait as much as the Strait of Hormuz. If the White House makes another foolish mistake, it will soon realize that with just one move, global energy and trade flows can be disrupted."The yield on Japans 20-year government bonds rose to 3.325%.

The US Stock Market Continues to Pull Back

Skylar Shaw

Apr 02, 2022 11:25

微信截图_20220402091730.png

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.


Suggestion