Mohicans markets ：MHM Today’s News

☆At 20:30, the United States will announce the annual rate of the core PCE price index in August, which is generally expected to be recorded at 4.70%, up 0.1% from the previous value.

In addition, a number of Fed officials have also stated that the Fed will continue to raise interest rates to reduce inflation.

☆At 21:00, Fed Vice Chairman Brainard will speak, and investors can pay attention to whether he will be like other Fed officials.

☆ At 22:00, the United States will announce the final value of the University of Michigan's consumer confidence index in September. The market currently expects it to record 59.5, which is consistent with the previous value.

Market Inventory

On Thursday, spot gold first fell and then rose. The US market once rose to a high of $1,664.78, and finally closed up 0.04% at $1,660.57 per ounce; spot silver finally closed down 0.34% at $18.82 per ounce.

The US dollar index fell sharply after rising to a high of 113.81 in European trading, and fell below the 112 mark, and finally closed down 0.68% at 111.94;The yield on the 10-year U.S. Treasury bond rose to a high of 3.868% during the day, and then gave up some of the gains, and finally closed at 3.781%.

In terms of crude oil, the two oils showed a volatile trend. WTI crude oil was close to the $80 mark, and finally closed down 0.34% at $81.60 per barrel; Brent crude oil was blocked at the $90 mark and finally closed down 0.73% at $88.50 per barrel.

U.S. stocks failed to continue the rebound from the previous day. The Dow closed down 1.54%, the S&P 500 closed down 2.11%, and the Nasdaq fell 2.84%. Pharmaceutical stocks, new energy vehicle stocks, and hotel and leisure stocks fell sharply. The Nasdaq China Golden Dragon Index closed down about 4.7%. Wei Xiaoli performed poorly. Among them, Weilai and Xiaopeng both fell about 10%.  

European stocks fell sharply across the board. The German DAX index closed down 1.71% at 11975.55 points; the UK FTSE 100 index closed down 1.77% at 6881.59 points; the European Stoxx 50 index closed down 1.69% at 3279.04 points.

Fed News

San Francisco Fed President Daley says he expects to raise rates further in the upcoming meeting and early next year.

Cleveland Fed President Mester believes that the U.S. financial markets are not in trouble, the Fed needs to continue to raise interest rates, the federal funds target rate to more than 4%.

St. Louis Fed President Bullard, known as the “king of hawks”, says the Fed will not stop tightening actions, and the Fed must quickly raise interest rates to deal with inflation.

Market Hotspots

Sources say the U.S. is ready to target Iranian oil sales with new sanctions and OPEC+ begins discussions to cut production at its Oct. 5 meeting.

The London Metal Exchange (LME) negotiated a possible ban on Russian metals trading.

The EU wants to establish a new benchmark for gas trading as it believes the current pricing mechanism is out of balance.

Don't expect the ECB to adjust its policy because of the euro exchange rate, according to ECB chief economist Lien.     

ECB member Simkus believes the ECB will raise interest rates by 75 basis points in October, with a minimum hike of 50 basis points.

U.S. initial jobless claims unexpectedly fall to 5-month low, labor market still strong.

Geopolitical Situation

Putin will annex 15% of Ukraines territory, and UN warns this move is “dangerous escalation”                

Russia says striking U.S.-made equipment, and Ukraine says destroying 3 sets of S-300 low

Putin: Part of the mobilization instructions have been issued and the corresponding rules

Institutional Market Viewpoint

1. TD Securities warned that the pound may be overvalued by more than 20%, and there is room for further decline

2. City Index: Although the EURUSD rebounded, the range is still limited

3. Credit Suisse: To restore market confidence in the pound, one way for the Bank of England is to raise interest rates sharply in November

4. Gain Capital: Bank of England intervention or unsustainable, the GBPUSD may eventually fall to parity or fall below parity

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