Overnight Market Review (2022.6.20) Last Friday, oil prices plummeted due to intensified fears of a recession; the Bank of Japan continued to maintain accommodative policies, resulting in a continued weakening of the yen, a stronger dollar, and a fall in gold prices. This week, we will focus on the PMIs of European and American countries and the speech of Federal Reserve Chairman Powell.
Global gold market: Gold prices closed lower last week, with gold futures down 0.5% to close at $1,840.60 an ounce.
Reasons for analysis: The dollar fell, the geopolitical situation in Russia and Ukraine was tense, and the price of gold was supported. However, most central banks around the world, such as officials of the European Central Bank and the Federal Reserve, continued to release signals of further interest rate hikes in the future, which made gold bulls have scruples. This week will usher in the congressional testimony of Federal Reserve Chairman Powell, and the market has a strong wait-and-see mood
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.