Hot spot tracking

  • Sunak elected leader of the Conservative Party, as the new British Prime Minister
  • Latest PMI data for major advanced economies fuels recession fears
  • US Treasury Secretary Yellen: Pay close attention to possible risks to the US financial system

Product Hot Comment

  • Forex
    On Monday (October 24), the U.S. dollar index quickly fell below 112 in the Asian session, and then rose back to 112.55. The intraday trend was volatile, and finally closed up 0.125%, barely holding 112. The Bank of Japan was suspected of intervening in the foreign exchange market again on Monday, and the yen broke through 146 in early trading, but eventually rebounded unsuccessfully and fell to 149, approaching a 32-year low again.
    📝 Review:The dollar rose on Monday despite what appeared to be another foreign exchange intervention by Japanese authorities, while the pound traded volatile after Sunak was elected Britain's third prime minister in the past seven weeks.
    🕵️ Operation suggestion:go long GBP/USD at 1.13090, target price 1.14344
  • Gold
    As the yields of the U.S. dollar and U.S. government bonds rose, spot gold fell after briefly breaking through 1670 in the Asian session, reaching as low as 1643.85, closing down 0.59% at $1651.56 per ounce; spot silver once fell by more than 2% in the day, and finally closed down 0.98%. At $19.28 an ounce.
    📝 Review:Gold prices slipped on Monday, weighed down by a firmer dollar and rising U.S. bond yields, while expectations of another sharp rate hike by the Federal Reserve kept investors on the sidelines. The dollar rose 0.2%, making dollar-denominated gold more expensive for overseas buyers, while the yield on the benchmark 10-year Treasury note hovered near its recent peak.
    🕵️ Operation suggestion:go long at 1651.95, the target price is 1675.64
  • Crude Oil
    Crude oil fell more than 2% during the session, and poor PMI data in the euro zone, the United Kingdom, and the United States exacerbated demand concerns. In the end, WTI crude oil closed down 0.53% at $85.82 per barrel; Brent crude oil closed down 0.15% at $93.91 per barrel. U.S. natural gas prices rebounded, with NYMEX November natural gas futures closing up 4.84% at $5.1990 per million British thermal units. Due to mild weather and ample supply, European natural gas benchmark TTF Dutch futures fell as much as 18%, falling below the 100 euro/MWh integer for the first time since June, and plunging 70% from the record high set in August. ICE British natural gas futures fell more than 13%.
    📝 Review:Oil prices ended lower in choppy trade on Monday after data showed Asian demand remained lackluster in September and a stronger dollar weighed on the market, but weaker U.S. business activity data eased expectations for more aggressive rate hikes and capped losses.
    🕵️ Operation suggestion:go short at 84.716, the target price is 82.943
  • Indice
    Under the reappearance of recession signals, the market expects the pace of interest rate hikes to slow down, and European and American stock markets collectively rebounded and closed up. The Dow closed up 1.34%, while the Nasdaq and S&P 500 initially closed up 0.86% and 1.19%, respectively. Healthcare and consumer goods sectors were among the top gainers.
    📝 Review:U.S. stocks ended higher on Monday, extending last week's gains as signs of economic weakness showed that the Federal Reserve's aggressive policies aimed at cooling the economy and thereby reining in inflation at multi-decade highs were starting to bear fruit. The three major U.S. stock indexes all gained momentum on the first trading day of the week, with many giants reporting earnings this week and a number of key economic data coming out.
    🕵️ Operation suggestion:go short the Nasdaq index at 11434.800, the target price is 11173.700

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