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On April 3, Alan Vallance, chief executive of the Institute of Chartered Accountants, said that the new US tariffs may have destroyed hopes for a boost to UK economic growth and put the governments fiscal plans in jeopardy. Anything that brings additional costs, complexity and uncertainty to the global economic trading system is not conducive to growth, prosperity or improved living standards. However, the UK can be assured that it only faces a minimum tariff of 10% on imports imposed by the Trump administration. Looking ahead, the government should not respond to the news in a reflexive, tit-for-tat manner. Working to eliminate tensions and calm the global trading system should be the top priority of the British government.On April 3, Andrzej Skiba, head of BlueBays U.S. fixed income department at Royal Bank of Canada Global Asset Management, said that despite the negative impact of tariffs on economic growth, a U.S. recession has not yet occurred. The asset management company expects U.S. economic growth to slow to 1.5%, but does not expect a recession or two consecutive quarters of GDP decline. Skiba said: "This time, the Fed did not raise interest rates aggressively amid a slowing economy; the worst case scenario is that the Fed maintains higher interest rates for longer instead of raising interest rates."HSBC: Raised its gold price forecast for 2025 to $3,015/oz (previously $2,687/oz), and raised its forecast for 2026 to $2,915/oz (previously $2,615/oz).Frances CAC40 index widened its intraday losses to 3%, Germanys DAX index fell 2.3%, and Britains FTSE 100 index fell 1.58%.On April 3, after Trump announced the imposition of comprehensive import tariffs, gold prices soared to a record high on Thursday, but quickly fell back as some traders took profits, falling more than $80 from the intraday high, down 1.3% on the day. But most analysts are still optimistic about gold. Adrian Ash, head of research at Bullion Vault, said: "Weaker trade, rising input costs and shrinking profit margins have severely damaged the stock market, while geopolitical distrust is deepening. Such a bleak outlook for economic growth provides a perfect backdrop for further increases in gold prices." Analysts at ANZ Bank said that gold prices will approach $3,200 in the next six months.

S&P 500 Price Forecast – Stock Markets Get Sold to Kick off the Week

Alice Wang

Aug 23, 2022 14:48

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The 200-Day EMA was breached by the S&P 500 during the trading session after a steep decline. At this point, the Jackson Hole Symposium this week is still causing a lot of fear in the market.

Technical Analysis of the S&P 500

As there is still a lot of pessimism, the S&P 500 has dropped significantly in the E-mini contract during the trading session on Monday. The central bankers' blather will ultimately draw a lot of attention to this week's Jackson Hole Symposium, and people will be curious about whether or not they will continue to be active in battling inflation. It does make some sense that equities would suffer as long as there is a central bank that is prepared to battle inflation, so a retreat this week is probably to be anticipated.


Along with the 50-Day EMA below, the 4113 level is a region where I anticipate seeing a lot of support. Clearing all of that would be a really unfortunate turn of events, and this market would undoubtedly fall below the 4000 level as a result. The stock market surge, in my opinion, may be almost done at this point, and the direction we go over the following few days' larger move will almost probably be determined by those events.


Sadly, much of this will depend on how the markets understand the statements made by central bankers, which implies that they "may get it wrong" once again. However, by the end of the week, we should see a lot of the momentum that traders have exhibited in one way or the other. On the upside, I believe there is still resistance in the area around the 4300 mark, which may have been the peak.

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