Abstract:U.S. stocks fell last Friday (September 15) as massive options expiration added to volatility. Traders weighed the impact of each auto workers' strike while scrutinizing economic data ahead of the Fed's decision.
Market Overview
U.S. stocks fell last Friday (September 15) as massive options expiration added to volatility. Traders weighed the impact of each auto workers' strike while scrutinizing economic data ahead of the Fed's decision. Extended crude oil production cuts by members of the Organization of the Petroleum Exporting Countries (OPEC) put tight pressure on the crude oil market, pushing U.S. crude prices to a ten-month high. U.S. West Texas Intermediate (WTI) crude futures and Brent crude futures both jumped to highs of $90 per barrel.
At the end of the Asian market on Monday (September 18th), spot gold maintained its intraday rebound trend and the gold price just touched the $1930 per ounce mark, refreshing the week's high to $1930.49 per ounce. The International Energy Agency warned that the supply gap in the oil market will deepen in the fourth quarter as Saudi Arabia and Russia extend their production cuts. Diesel shortages are affecting sectors such as construction, transportation and agriculture, and global inventories are significantly below normal levels for the year. Despite President Biden's promise to lower gas prices, options such as the Strategic Petroleum Reserve are dwindling and increasing production is not an immediate solution.
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 September 18, Beijing time.
·Gold XAUUSD· | |
High Probability Scenario | High throw and low suction in the 1903-1919-1931-1945-1951-1960 range |
Low Probability Scenario | Chase up and kill down outside the 1903-1919-1931-1945-1951-1960 range |
·SilverXAGUSD· | |
High Probability Scenario | High throw and low suction in the 21.5-22.3-23.1-23.9-24.5-25.3 range |
Low Probability Scenario | Chase up and kill down outside the 21.5-22.3-23.1-23.9-24.5-25.3 range |
·Crude OilUSOUSD· | |
High Probability Scenario | High throw and low suction in the 85.3-87.3-89.1-90.7-91.5-92.6-93.7 range |
Low Probability Scenario | Chase up and kill down outside the 85.3-87.3-89.1-90.7-91.5-92.6-93.7 range |
·EURUSD· | |
High Probability Scenario | High throw and low suction in the 1.0570-1.0690-1.0755-1.0830-1.0950 range |
Low Probability Scenario | Chase up and kill down outside the1.0570-1.0690-1.0755-1.0830-1.0950 range |
·GBPUSD· | |
High Probability Scenario | High throw and low suction in the 1.2135-1.2250-1.2400-1.2470-1.25460-1.26505 range |
Low Probability Scenario | Chase up and kill down outside the 1.2135-1.2250-1.2400-1.2470-1.25460-1.26505 range |
Fed Governor Christopher Waller's recent comments have highlighted a cautious stance towards adjusting interest rates, marking a significant moment for the financial markets.
In the forex market, stability was the theme for the U.S. dollar index, holding firm at 104.30. Minor fluctuations were observed across major currency pairs: the Euro slightly weakened against the dollar, closing at 1.0827
In the latest market wrap focusing on the foreign exchange sector, the U.S. dollar index showed minimal movement, holding at 104.31.
On Tuesday, due to February's US durable goods orders growth exceeding expectations and an optimistic economic growth outlook for the first quarter in the US, the US dollar index initially fell but then rose, briefly touching below the 104 mark before recovering during the US trading session, closing up 0.07% at 104.29.