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Market Outlook for the Week – Foreign Exchange
Under the continuous inflationary pressure, the Federal Reserve is expected to maintain a relatively tight policy. The appreciation of the USD will continue, while downward pressure on non-USD currencies generally increases.
Oil Stocks to Rise on Slower Demand, OPEC Cuts Needed to Bolster Prices
Global oil stocks are set to rise next year amid weakening demand and a stronger U.S. dollar, executives at an oil conference said on Monday, adding that OPEC will have to cut output to reduce supply if they want prices to remain supported.
Market Outlook for the Week - Commodities
The prospect of interest rate hikes by central banks such as the Fed continues to weigh on gold prices, while concerns about a global economic recession may weaken the demand for crude oil. Oil prices still face downward pressure in the short term.
Pound Plunges the Latest Ill Omen as Stocks Slide
"The market is now treating the UK as if it's an emerging market," said Rabobank strategist Michael Every in Singapore.
What a Week – And It's Not Over Yet
A busy week for central banks come to an end with plenty of rate hikes, increased prospects of slowing growth, that leave investors with a bad taste in their mouth. But the week is not over.
Sell XAUUSD
TRADING
XAUUSD: Gold Price Fluctuates Repeatedly, Waiting for a Break
After the global central banks raised interest rates, the biggest bearish news suppressing gold prices has almost gone in the short term. Gold has maintained a volatile adjustment, but there is still a risk of further decline in the short term.
Recession Will Be Necessary to Rebalance the Oil Market
Unused capacity in global oil production has fallen to exceptionally low levels, contributing to the intense upward pressure on prices until very recently.
Sell USDJPY
PENDING
USDJPY: Yen Depreciation Is Mitigated by Government Intervention in the Foreign Exchange Market
The Japanese government intervenes in the foreign exchange market. The yen has been boosted to a certain extent. The depreciation of the yen is expected to be further mitigated. In technical analysis, the yen fluctuates at a high level, and there is still strong resistance at the 145.0 mark.
Buy GBPUSD
LOSS -500 Points
GBPUSD: BOE's Rate Hike May Exceed Expectations, GBP Likely to Bottoming Out and Rebounding
The Bank of England (BOE) may raise interest rates by 75 basis points higher than expected. In technical analysis, the pound has been seriously oversold, and it is expected to usher in a short-term rebound.
Sell XAUUSD
LOSS -805 Points
XAUUSD: Suppressed by Interest Rate Hikes Prospect, Will Gold Prices Continue to Dip?
The prospect of general interest rate hikes by global central banks continues to put pressure on gold prices, while geopolitical tensions and the risk of a global economic recession have also boosted the safe-haven demand for the USD. Therefore, gold faces the risk of further declines.
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