The Short-Term Volatility of Gold Exceeds 20 US Dollars

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Forex

EUR/USD fell 0.007% yesterday to 1.07353; GBP/USD rose 0.039% yesterday to 1.21743; AUD/USD rose 0.016% yesterday to 0.69888; USD/JPY fell 0.065% yesterday to 133.011; GBP/CAD rose 0.036% yesterday to 1.62361; NZD/CAD rose 0.004% yesterday to 0.84482.

📝 Review:The dollar hit a six-week high against the yen on Tuesday, recovering from around two-week lows against a basket of major currencies after January inflation data showed U.S. consumer prices rose at their smallest year-on-year increase since October 2021. But that hasn't changed market expectations that interest rates will remain elevated for some time.

🕵️ Operation suggestion:go long USD/JPY at 133.017, target price 134.027.
Gold

Spot gold rose 0.016% yesterday to $1854.41/oz; Spot silver rose 0.096% yesterday to $21.847/oz.

📝 Review:Gold pared gains built on dollar weakness on Tuesday to close little changed as Fed officials remained hawkish on rate hikes, while demand worries dragged palladium to its weakest since August 2019.

🕵️ Operation suggestion:go short at 1854.62, target price is 1842.88.
Crude Oil

WTI crude oil fell 0.033% yesterday to $78.961/barrel; Brent crude oil fell 0.499% yesterday to $85.090/barrel.

📝 Review:Oil prices ended more than 1% lower on Tuesday after the United States said it would boost supply to the market by releasing more crude from the Strategic Petroleum Reserve (SPR). The U.S. Department of Energy said on Monday it would sell 26 million barrels of oil from the SPR, which is already at its lowest level since 1983.

🕵️ Operation suggestion:go short at 78.963, target price is 77.738.
Indice

The Nasdaq index fell 0.129% yesterday to 12569.350 points; The Dow Jones index fell 0.097% yesterday to 34042.0 points; The S&P 500 index fell 0.077% yesterday to 4129.950 points.

📝 Review:U.S. stocks closed mixed. The Dow closed down 0.46%, the Nasdaq closed up 0.57%, and the S&P 500 closed down 0.03%. Most of the star technology stocks closed higher, Tesla closed up about 7%, Nvidia closed up about 5%, and TSMC closed up about 2%.

🕵️ Operation suggestion:go long the Nasdaq index at 12568.200, target price 12768.400