Overnight Market Review (2022.6.24) On Thursday, Federal Reserve Chairman Powell reiterated his firm commitment to reducing inflation, the US dollar index rose, and gold and oil prices closed lower.
Global gold markets: Gold prices reversed initial gains to end lower on Thursday, with the dollar regaining momentum after Powell doubled down on the Federal Reserve’s emphasis on tightening policy to curb inflation. Gold futures fell 0.5% to $1,829.8 an ounce.
U.S. stock futures rose in pre-market trading on Friday, with prices of commodities such as copper falling on bets that inflation is about to peak. U.S. copper futures have fallen 7.69% so far this week, on track for their biggest weekly drop in a year. U.S. wheat futures are down 7.33% so far this week. Meanwhile, crude oil prices are also expected to drop for two consecutive weeks.
Trading strategy deployment: it is recommended to do more at low levels
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