Overnight Market Review (2022.5.17) On Monday, U.S. manufacturing activity fell sharply, recession fears intensified, the dollar fell, and gold and oil prices rose. Global gold markets: Gold prices edged higher on Monday as a retreat in U.S. Treasury yields overshadowed resistance from a relatively strong dollar, with gold futures up 0.3 percent at $1,814.
At midday in Asia on Tuesday, gold futures prices rebounded sharply from yesterday’s lows. Although U.S. bond yields rebounded, the geopolitical situation provided some support for gold. At the same time, investors also need to pay attention to the U.S. retail sales data released later today. , especially as some people start to consider the risk of a recession.
Economists at Goldman Sachs Group Inc. earlier downgraded their forecasts for U.S. economic growth this year and next to reflect the turmoil in financial markets as the Federal Reserve continues to tighten monetary policy.
U.S. stock index futures rose, Dow futures rose about 400 points, and Nasdaq futures rose more than 200 points before the market opened on Tuesday, after U.S. retail sales data in April was stronger than market expectations, easing concerns about slowing U.S. economic growth. Among them, the monthly rate of retail sales recorded 0.9%, a new high since January this year.
Trading strategy deployment: it is recommended to go short at high levels
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