Fundamentals:
Cleveland Fed President Mester reiterated his support for raising rates by 50 bps at each of the next two meetings. If monthly inflation data proves that inflation is falling by the time of the September FOMC meeting, the pace of rate hikes may slow, but if inflation fails to do so, then a faster pace of rate hikes may be necessary. That means the Fed could raise rates by 75 bps in September.
This week, investors will need to pay attention to U.S. retail sales data and earnings from retail stocks, as well as speeches from several Fed officials, including Federal Reserve Chairman Jerome Powell, for more clues on the path of future rate hikes.
Technical:
Dow:US stocks rebounded collectively; the S&P 500 closed up 2.39% at 4023.89 points; the Dow closed up 1.47% at 32196.66 points; the NASDAQ closed up 3.82% at 11805 points. Technology stocks and Chinese stocks rose sharply, with Tesla up 5.71%, NVIDIA up 9.47%, Alibaba up over 8%, and XPENG Motors up over 11%; Twitter closed down nearly 10%. The Dow bears continued to pull back near 31000 below, focusing on the upper target position near 33200.
USD:Yields on the 10-year U.S. Treasury bond rose and ended at 2.928%. The U.S. dollar index fluctuated lower, showing an inverted V-shaped trend in the European session. It once stood at the 105 mark, continued to hit a new high since December 2002, and then retreated from the high level, and finally closed down 0.277% at 104.47. After the US dollar index fell back to a new high, chasing long does not have the advantage of holding positions, and pay attention to the first support position near 103.2 below.
Gold:Spot gold continued its decline last Friday, breaking below the $1,800 mark for the first time since February 4, and rebounded slightly in late trading, finally closing down 0.58% at $1,811.15 an ounce. At present, gold chasing short has no profit-loss ratio and price advantage, pay attention to the 1830 target position of the band callback target.
Crude oil:The two oil prices rose strongly. WTI crude oil regained the $110 mark and finally closed up 3.19% at $110.09 per barrel; Brent also stood at $111 per barrel and finally closed up 3.10% at $111.16 per barrel. The pressure level above crude oil is valid at 109.3, and attention is paid to the target position near the lower range position 97.
(The above analysis only represents the analyst's point of view, the forex market is risky, and investors should be cautious)
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