MHMarkets：Morgan Stanley economists predicted that the Fed would cut interest rates sharply over the next two years as inflation cooled.

At the end of the Asian market on Tuesday (November 14), Morgan Stanley economists predicted that the Fed would cut interest rates sharply over the next two years as inflation cooled. Morgan Stanley stated in its 2024 outlook that the Fed will start cutting interest rates in June next year, and then cut rates by 25 basis points at each meeting after September and the fourth quarter. By the end of 2025, the policy interest rate will be reduced to 2.375%. Morgan Stanley believes that a weaker economy requires greater easing policies, but there will be no recession. The unemployment rate will peak at 4.3% in 2025, with the Fed's expectation of 4.1%. In addition, Goldman Sachs expects the Fed to cut interest rates for the first time by 25 basis points in the fourth quarter of next year, with a quarterly rate cut by a total of 175 basis points by mid-2026. The interest rate will eventually fall within the range of 3.5% to 3.75%. The US dollar index showed a downward trend in the market yesterday, with a slight increase at the opening of the Asian market today. The current price is around 105.73. Gold rose significantly yesterday supported by the fundamentals of the US market and closed near the intraday high. At the opening of the Asian market today, gold fluctuated slightly and was currently priced around 78.36. On November 13, the Organization of Petroleum Exporting Countries (OPEC) released a monthly oil market report, slightly raising its global oil demand forecast for this year, stating that the fundamentals of the oil market remain strong. Crude oil was supported by market fundamentals yesterday, with prices rising. Today, the Asian market opened with a slight consolidation, but during the Asian market period, it broke through yesterday's highest point and is currently quoted around 78.36. EURUSD showed a V-shaped reversal in the market yesterday, and the price ultimately closed near the intraday high. At the opening of the Asian market today, EURUSD slightly sorted out and the current quotation is around 1.0696. Earlier today, Bank of Japan Vice Governor Shinichi Ueda stated that after the long-term tightening of US policies, there are many views that interest rate spreads are a driving factor in the foreign exchange market. However, the exchange rate is influenced by various factors, including interest rate spreads and a country's current account. He said it is important to determine whether wage increases will continue to support consumer spending, and whether the Bank of Japan will continue to support the economy to help create an environment for wage growth. USDJPY fluctuated significantly downwards yesterday due to the impact of the Bank of Japan's policies, but did not form a downward trend. At the opening of the Asian market today, USDJPY was slightly sideways, with a current quotation of around 151.71.

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 14, Beijing time.

Gold XAUUSD·
Resistance	1949.22 – 1960.87 – 1971.11
Support	1931.67 – 1923.26 – 1919.20
The above figure shows the 30 minute chart of   gold. The chart shows that the recent upward resistance of gold has been   around 1949.22-1960.87-1971.11, and the downward support has been around 1931.67-1923.26-1919.20.   The market will be judged by whether to break through the upper and lower   support and resistance. Note: The above strategy was updated at 15:00 on November 14. This policy is a daytime   policy. Please pay attention to the policy release time.

Crude Oil USOUSD·
Resistance	79.52 – 81.99 – 83.35
Support	77.68 – 76.98 – 76.17
The above chart shows the 30 minute chart of US   crude oil. The chart shows that the recent upward resistance of US crude oil   is around 79.52-81.99-83.35, and the downward support is around 77.68-76.98-76.17.   The market will be judged by whether to break through the upper and lower   support and resistance. Note: The above strategy was updated at 15:00 on November 14. This policy is a daytime   policy. Please pay attention to the policy release time.

EURUSD·
Resistance	1.0706 - 1.0725 - 1.0749
Support	1.0665 - 1.0619 - 1.0591
The above figure shows the 30 minute chart of EURUSD.   The chart shows that the recent upward resistance of EURUSD is around 1.0701-1.0725-1.0749,   and the downward support is around 1.0658-1.0619-1.0591. The market will be   judged by whether to break through the upper and lower support and   resistance. Note: The above strategy was updated at 15:00 on November 14. This policy is a daytime   policy. Please pay attention to the policy release time.

GBPUSD·
Resistance	1.2294 – 1.2347 – 1.2398
Support	1.2229 - 1.2185 – 1.2154
The above figure shows the 30 minute chart of GBPUSD.   The chart shows that the recent upward resistance of GBPUSD is around 1.2294-1.2347-1.2398,   and the downward support is around 1.2229-1.2185-1.2154. The market will be   judged by whether to break through the upper and lower support and   resistance. Note: The above strategy was updated at 15:00 on November 14. This policy is a daytime   policy. Please pay attention to the policy release time.