June 13, 2023-MHM European Perspective

Market Overview

On Tuesday (June 13), spot gold shocked slightly up during the Asian session, and is currently trading near $1958.50 per ounce. The market is generally concerned about the U.S. May CPI data, and the market is now expected to record the lowest growth rate in the U.S. May CPI for nearly a year and a half, perhaps giving the Federal Reserve to suspend interest rate hikes to provide data support. The dollar index shock weakness, which provide support to gold prices; However, the data before the market wait-and-see sentiment is relatively strong, so that gold prices are limited to rise.

However, it should be reminded that the market was previously widely expected to maintain a hawkish attitude while the Federal Reserve suspended interest rate hikes this week, but there are already some dovish expectations, which are expected to be biased to support gold prices.

Moreover, the U.S. May CPI data will be released on Tuesday, and the U.S. May PPI data will also be released on Wednesday. The market is currently expecting a year-on-year PPI growth rate of 1.5%, which is expected to record the lowest growth rate since December 2020, and is the 11th consecutive month of slowing growth. The general PPI growth rate will be transmitted to the PPI data after three months, and if we look at it from this aspect, the U.S. inflation growth rate is expected to return to within the Fed's 2% target range after three months.

Of course, the market is more concerned about the performance of the U.S. core CPI data, and the market is currently expecting an annual rate of core CPI growth of 5.3% in May, which will be the lowest growth rate in the past one and a half years. It is worth mentioning that the U.S. core year-on-year PPI growth rate of 5.4% in February, and the market expects the U.S. core PPI growth rate of 2.9% in May.

U.S. crude traded near $67.40 per barrel; oil prices sank more than 4% on Monday after analysts highlighted increased global supply and concerns about demand growth as the market awaits key inflation data and the Federal Reserve's interest rate decision due later this week.

Investors need to pay close attention to the market's expectations for changes in U.S. inflation expectations and the Federal Reserve interest rate resolution. Intraday focus on the U.S. non-seasonally adjusted annual rate of May CPI and OPEC monthly crude oil market report.

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 June 13, Beijing time.

Intraday Oscillation Range: 1911-1929-1937-1951-1978-1985-1998-2007-2016

Overall Oscillation Range:   1730-1756-1780-1801-1817-1833-1856-1873-1889-1903-1911-1929-1937-1951-1978-1985-1998-2007-2016-2033-2046-2057-2066-2077-2089-2097-2100

In   the subsequent period of spot gold, 1911-1929-1937-1951-1978-1985-1998-2007-2016   can be operated as the bull and bear range; High throw low suction in the   range, chase up and kill down outside the range!

Note: The above   strategy was updated at 15:00 on June 13. This policy is a daytime policy.   Please pay attention to the policy release time.

Intraday Oscillation   Range: 23.1-23.9-24.5-25.3-26.1

Overall Oscillation   Range: 19.7-20.1-20.6-21.5-22.3-23.1-23.9-24.5-25.3-26.1-26.6-27.3

In   the subsequent period of spot silver, 23.1-23.9-24.5-25.3-26.1 can be   operated as the bull and bear range. High throw and low suction in the range,   chase up and kill down outside the range!

Note:   The above strategy was updated at 15:00 on June 13. This policy is a daytime   policy. Please pay attention to the policy release time.

Intraday   Oscillation Range: 65.8-66.9-67.3-68.9-70.1-71.2-72.3-73.1

Overall   Oscillation Range: 62.1-63.7-64.5-65.8-66.9-67.3-68.9-70.1-71.2-72.3-73.1-73.8-75.1-77.9-78.5-79.9-80.7-82.3-83.5-85.3-87.3-89.1

In   the subsequent period of Crude Oil, 65.8-66.9-67.3-68.9-70.1-71.2-72.3-73.1 can   be operated as the bull and bear range. High throw and low suction in the   range, chase up and kill down outside the range!

Note: The above   strategy was updated at 15:00 on June 13. This policy is a daytime policy.   Please pay attention to the policy release time.

Intraday Oscillation Range: 1.0570-1.0690-1.0755-1.0830-1.0950-1.1157

Overall Oscillation Range: 1.0290-1.0360-1.0460-1.0570-1.0690-1.0755-1.0830-1.0950-1.1157-1.1220-1.1303

In   the subsequent period of EURUSD, 1.0570-1.0690-1.0755-1.0830-1.0950-1.1157 can   be operated as the bull and bear range. High throw and low suction in the   range, chase up and kill down outside the range!

Note: The above   strategy was updated at 15:00 on June 13. This policy is a daytime policy.   Please pay attention to the policy release time.

Intraday Oscillation Range: 1.2375-1.2400-1.2470-1.2550-1.27000

Overall Oscillation Range: 1.1610-1.1830-1.1920-1.2030-1.2135-1.2250-1.2375-1.2400-1.2470-1.2550-1.27000

In   the subsequent period of GBPUSD, 1.2375-1.2400-1.2470-1.2550-1.27000 can be   operated as the bull and bear range. High throw and low suction in the range,   chase up and kill down outside the range!

Note: The above   strategy was updated at 15:00 on June 13. This policy is a daytime policy.   Please pay attention to the policy release time.