Zusammenfassung：At the end of the Asian market on Friday (November 17), US Fed Chairman Loretta Mester stated in an interview with US media on the 16th that the Fed has made "significant progress" in curbing inflation and needs to see "more evidence that inflation is returning to the 2% (target) track in a timely manner" in the future.
At the end of the Asian market on Friday (November 17), US Fed Chairman Loretta Mester stated in an interview with US media on the 16th that the Fed has made “significant progress” in curbing inflation and needs to see “more evidence that inflation is returning to the 2% (target) track in a timely manner” in the future. The latest data released by the US Department of Labor shows that the US October Consumer Price Index (CPI) remained unchanged month on month, while the Producer Price Index (PPI) decreased by 0.5% month on month. After the release of two data sets, the market has basically ruled out the possibility that the Fed will raise interest rates further and places bets on rate cuts starting from 2024. The US dollar index fluctuated slightly yesterday, rising first and then falling, and then trading above the intraday median. At the opening of the Asian market today, the US dollar index fluctuated slightly, with the current price around 104.40. The cooling of US inflation data and the impact of the expected rate hike by the Fed. Gold rose significantly yesterday and broke past resistance levels upwards, ultimately closing near the intraday high. Gold continued to rise at the opening of the Asian market today, with the current price around June 1986. Due to investors' expectations of a recession in the US economy, the crude oil market plummeted yesterday, with US crude oil falling by $3.76, a decrease of 4.9%, at a price of $72.9 per barrel. Brent crude oil fell by $3.76, or 4.63%, at a price of $77.42 per barrel. At the opening of the Asian market today, US crude oil slightly adjusted and fluctuated, with the current quotation around 73.18. European Central Bank President Lagarde warned on November 16 that the European financial industry is facing risks due to economic weakness and high interest rates. The increase in financing costs and a significant decrease in loan volume have had a negative impact on the profitability of banks. Low growth and high debt repayment costs will continue to burden European households and businesses, and this series of problems may lead to an increase in problematic loans. EURUSD broke through its previous high yesterday and then retreated to consolidate, ultimately closing near its intraday low. At the opening of the Asian market today, EURUSD slightly sorted out, and the current quotation is around 1.0855. Bank of Japan Governor Kazuo Ueda stated earlier today in response to questions from Congress that if a US interest rate cut helps the US economy achieve a soft landing and the Japanese economy remains strong, it will have a positive impact on the Japanese economy. It cannot be said that the depreciation of the yen is only detrimental to the economy. The Bank of Japan will continue to patiently implement loose monetary policy to support domestic economic development. Once the Bank of Japan achieves its stable inflation target, it will consider ending the negative interest rate and yield curve control plan. USDJPY was significantly affected by the US dollar yesterday and closed below the intraday median. At the opening of the Asian market today, USDJPY continued to decline, with a price around 150.59.
MHMarkets strategy is only for reference and not for investment advice. Please carefully read the statement at the end of the text. The following strategy will be updated at 15:00 on November 17, Beijing time.
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