Overnight Market Review (2022.5.9) Last Friday, the US non-farm payrolls report was mixed, and the US dollar index showed a volatile trend; oil prices rose due to the imminent EU sanctions on Russian oil; In anticipation of the impact, U.S. stocks continued to decline. This week focuses on US CPI and PPI, UK GDP and monthly crude oil market reports.
FOREX: The U.S. dollar index hit 104.07 on Friday, its highest since December 2002, after two days of volatility as investors focused on how aggressively the Federal Reserve might raise interest rates in the process of tackling rising inflation. U.S. dollar index futures were little changed at 103.68. Sterling fell to its lowest level since June 2020, a day after the Bank of England raised interest rates to the highest level since 2009 but warned the economy was at risk of recession.
Precious Metals: Metal prices rose last week as the dollar weakened, but fell for a third straight week on the prospect of a sharp rate hike by the Federal Reserve. Gold futures rose 0.4% to settle at $1,882.8.
Trading strategy deployment: it is recommended to do more at low levels.
All transactions involve risks, the above analysis is for reference only. When placing an order, be sure to set the lot size and remember to set the stop loss.
