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On September 8th, the Securities Transaction Commission Management Research Group of the Investor Service and Protection Professional Committee of the Securities Association of China conducted an industry survey on "Investors Securities Transaction Commission Situation." This survey aims to understand the overall situation and typical cases of customer complaints arising from commission-related issues under the current securities transaction commission policy, the transparency of commission rates to customers, pricing practices under the current commission policy, the application of net commissions, and industry opinions and suggestions on the current commission management model. The survey also sought industry opinions on whether the minimum commission fee of 5 yuan per transaction stipulated in the current "Notice on Adjusting the Standards for Collecting Securities Transaction Commissions" should be revised.Futures News, September 8th: Oil prices continued to run at high levels, with solid cost support for domestic fuel oil. Refineries saw good sales and low inventory levels in the previous period, coupled with the upcoming release of holiday stockpiling demand. With multiple positive factors dominating, refineries maintained a steady pace of price increases, and it is expected that domestic fuel oil negotiations will continue to rise steadily today.On September 8th, the Ukrainian State Emergency Service reported that on the evening of the 7th, Russian forces used drones to attack areas including the Boryspil district in the Kyiv region. Russia resumed airstrikes on Kyiv after a three-day hiatus. The Kyiv City Military Authority stated that air raid sirens had been issued in Kyiv due to the threat of "enemy" drones, and urged residents to seek shelter.Witnesses reported hearing explosions in Kyiv, Ukraine.According to Futures News on September 8th, as of 8:30 AM Beijing time, spot platinum rose 0.70%, and spot palladium rose 0.93%.

Weekly Market Outlook and Review – Week Ending 20 January

Jimmy Khan

Jan 16, 2023 15:43

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US Federal Reserve Chair Jerome Powell participated in a panel discussion on Tuesday (Central bank independence and the mission - changing viewpoints) in his first public appearance of 2023 and reaffirmed the commitment of the central bank to keep inflation under control. As interest rates are raised to slow the economy, Powell said, "restoring price stability when inflation is strong might involve policies that are not popular in the near term." However, there were few remarks about the new policy.


However, US inflation was the week's primary high point. According to the US Bureau of Labor Statistics, consumer prices decreased for a sixth straight month in the 12 months leading up to December (2022), easing to 6.5%. (BLS). This comes after the June 2022 high of 9.1%. US core annual inflation, which excludes energy and food, decreased by 0.3 percentage points from November's 6.0% figure to 5.7% in the 12 months ending in December.


Risk assets saw a buy as a result of this because market players expect the US Federal Reserve's policy tightening to slow down (Fed). The market has virtually priced in a 25 basis-point rise for the next Fed meeting on February 1 based on the pricing of Fed Fund futures contracts, according to the CME's FedWatch Tool. This move would raise the Federal Funds target range to 4.50%-4.75%.


Major US stock indexes battled their way into another week of gains on the markets (S&P 500 up 2.7%), helped by favorable US inflation data and the start of Q4 results on Friday, which were heavily weighted toward banking companies. While Wells Fargo & Co missed quarterly targets, JPMorgan Chase & Co exceeded them. The closely followed FAANG index in the equities market was noteworthy as well since it had a strong week of gains. Amazon increased by 14.0%, while Netflix was close behind at 5.47%.


The (main) currency market saw notable outperformers including EUR/USD, AUD/USD, and GBP/USD rise by 1.78%, 1.48%, and 1.15%, respectively. The USD/JPY fell by a startling 3.17% for the week, while the USD/CAD lost 0.35%.


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