Hot spot tracking

  • Federal Reserve: High interest rates will last longer
  • OPEC raises forecast for global oil demand in medium and long term
  • US President Biden mulls windfall tax on energy producers

Product Hot Comment

  • Forex
    On Monday (October 31), the "Federal Reserve" issued another document triggering hawkish interest rate hike expectations. The US dollar index rose back to 111 and closed up 0.822% at 111.6. However, the dollar index was still down 0.5% in October. EUR/USD fell below 0.99; GBP/USD fell more than 1%, falling below the 1.16 and 1.15 levels; USD/JPY continued to rise close to 149.
    📝 Review:U.S. stocks traded lower on Monday, with major indexes ending a month of strong gains with losses, as investor focus again turned to the Federal Reserve's policy meeting this week. The Fed is widely expected to raise rates by 75 basis points at the end of its two-day policy meeting on Wednesday, but investors will be looking for any signs that the Fed may be considering slower rate hikes in the future.
    🕵️ Operation suggestion:go long GBP/USD at 1.14722, target price 1.16428
  • Gold
    With both the US dollar and US bond yields rising, spot gold fell three times in a row, falling below US$1,640 and closing down 0.6% at US$1,633.61 per ounce, erasing most of the gains since October 21, and falling by more than 1 in October. %; spot silver closed down 0.19% at $19.18 an ounce, up 1% in October.
    📝 Review:Gold prices fell on Monday and posted their longest monthly losing streak on record, weighed down by a stronger dollar, higher U.S. Treasury yields and the prospect of further interest rate hikes by the Federal Reserve.
    🕵️ Operation suggestion:go short at 1633.07, the target price is 1621.94
  • Crude Oil
    A stronger dollar and bleak demand prospects continued to put pressure on crude oil. WTI crude oil fell 3% during the session and closed down 2.45% at US$86.93 per barrel; Brent crude oil closed down 1.75% at US$94.55 per barrel. European benchmark TTF Dutch natural gas futures fell more than 12% to 122 euros/MWh in late trading, after falling about 40% in October. ICE British Gas fell more than 12%, falling below the 300p/kcal mark. US natural gas closed up nearly 12% due to cooling expectations, returning to the top of 6 US dollars per million British thermal units, and still fell about 11.60% in October.
    📝 Review:Oil prices fell on Monday on expectations that U.S. production could increase and the spread of the virus hits demand. Both benchmark crude oil futures posted their first monthly gains since May.
    🕵️ Operation suggestion:go short at 85.564, the target price is 83.812
  • Indice
    Under the pressure of hawkish interest rate hike concerns and previously lower-than-expected earnings reports of large technology stocks, U.S. stocks fell on the closing day of October. The Dow closed down 0.39%, the Nasdaq closed down 1.03%, and the S&P 500 closed down 0.75%. Technology stocks generally closed down, Meta Platforms closed down more than 6%, Intel and Nvidia closed down more than 2%, and Amazon and Apple closed down more than 1%. The Dow posted its biggest monthly gain since 1976 in October.
    📝 Review:The U.S. dollar rose across the board on Monday, recovering some of its losses earlier this month, on expectations that the Federal Reserve will raise interest rates again sharply when it meets this week. That said, gains in the dollar could be capped if the Fed signals on Wednesday that the pace of rate hikes will slow as it assesses the impact of policy tightening so far.
    🕵️ Operation suggestion:go short the Nasdaq index at 11431.200, the target price is 11200.400
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