EUR/USD 1.17555
-0.163%
Gold 3307.78
-0.813%
Oil 65.423
-0.323%
USD/JPY 144.994
0.299%
GBP/USD 1.36166
-0.253%
GBP/JPY 197.436
0.050%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Germanys DAX30 index opened up 35.68 points, or 0.15%, at 23,833.80 points on July 7 (Monday); Britains FTSE 100 index opened down 10.46 points, or 0.12%, at 8,812.45 points on July 7 (Monday); Europes STOXX 50 index opened up 8.49 points, or 0.16%, at 5,297.30 points on July 7 (Monday); Spains IBEX35 index opened down 17.56 points, or 0.13%, at 13,949.54 points on July 7 (Monday); Italys FTSE MIB index opened down 3.11 points, or 0.01%, at 39,619.00 points on July 7 (Monday); Frances CAC40 index opened up 5.02 points, or 0.07%, at 7,701.29 points on July 7 (Monday).Switzerlands foreign exchange reserves in June were 712.996 billion Swiss francs, revised from 703.6 billion Swiss francs to 703.598 billion Swiss francs.July 7 news, from January to June 2025, the arithmetic average of the price reduction of new energy vehicles reached 23,000 yuan, and the price reduction reached 12%. In June, the arithmetic average of the price reduction of new energy vehicles reached 15,000 yuan, and the price reduction reached a low level of 10.4%. From January to June 2025, the arithmetic average of the price reduction of new conventional fuel vehicles reached 17,000 yuan, and the price reduction reached 8.9%. In June, the arithmetic average of the price reduction of new conventional fuel vehicles reached 14,000 yuan, and the price reduction reached 8.6%. From January to June 2025, the arithmetic average of the price reduction of new cars in the overall passenger car market reached 21,000 yuan, and the price reduction reached 11.4%. In June, the arithmetic average of the price reduction of new cars in the overall passenger car market reached 15,000 yuan, and the price reduction reached 9.9%.July 7th news: On the morning of July 6th local time, the two-day 17th BRICS Leaders Meeting opened in Rio de Janeiro, Brazil. The meeting was themed "Strengthening Global South Cooperation and Promoting More Inclusive and Sustainable Global Governance" and focused on six major topics, covering key areas such as global health, trade, investment and development financing, addressing climate change, artificial intelligence governance, reform of the global security architecture, and the construction of the BRICS mechanism itself.Yen: 1. Fitch: Without a significant reduction in auto tariffs, it will be difficult for Japan and the United States to reach a trade agreement. 2. Moodys: Still believes that the Bank of Japan will continue to raise interest rates, but weak wage data puts it in a difficult position. Australian dollar: 1. ING: The continued slowdown in inflation has opened a window for the Reserve Bank of Australia to cut interest rates. 2. Analysts: Strong Australian employment data has sounded the alarm for the doves of the Reserve Bank of Australia. Others: 1. Indonesias foreign exchange reserves rose to US$152.6 billion at the end of June. 2. Thailands consumer price index fell more than expected in June. 3. Putin called for the expansion of local currency settlement and proposed the creation of a new BRICS investment platform. 4. Economist: The Reserve Bank of New Zealand will "pause its dovish stance" this week to leave a buffer for assessing the economy.

US open: Caution ahead of FOMC minutes

Alice Wang

Jul 08, 2022 15:14

微信截图_20220707143018.png

US futures

Dow futures -0.2% at 30617

S&P futures -0.85% at 3822

Nasdaq futures -0.3% at 11731

In Europe

FTSE +1.7% at 7140

Dax +1.6% at 12597

Euro Stoxx +1.55% at 3418

Stocks are declining

As caution reigns in advance of the publication of the minutes from the June Federal Reserve meeting, US markets are indicating a somewhat worse opening.


As investors worry about the effect of central bank action on growth, fears of aggressive monetary policy tightening have led markets down in recent weeks. The bond market's 10-year yield dropped below the 2-year yield, which is a classic recession indicator.


The minutes from the most recent Fed meeting will be released today, and they might provide more insight into the direction that short-term interest rates will go. The market will be watching for signs that the Fed will increase interest rates by 50 or 75 basis points in July. Watch out for any indications that the Fed would lower the rate of rises if symptoms of a declining inflation trend appear.

 

The FedWatch tool indicates that the markets are factoring in an 86 percent chance of a 75 basis point rate rise. Hawkish minutes might drive the stock market down, strengthen the dollar, and push gold back near $1722.


The ISM service PMI is forthcoming and is anticipated to decrease to 55.4 from 55.9 before to the minutes.


In business news, Apple stock will be in the limelight after Goldman Sachs lowered its price target and warned that, in the event of a longer recession, the stock might drop as low as $82. The share price would have dropped by 42% from present levels as a result.

What will the Nasdaq do next?

After regaining the 20 sna and resistance at 11700, the Nasdaq has once again encountered resistance at the multi-month declining trendline. At a neutral level, the RSI is not providing many hints. If the declining trendline is not retaken, the 20 sma may be challenged at 11600 before the June 30 bottom of 11300. Here, a break allows access to 11050, the 2022 low. However, a break above the declining trendline reveals the 50 sna at 12150 and resistance at 12225, the high from last week. A move higher than this results in a higher high.

Suggestion