Mohicans markets：MHM Today’s News

November 7, 2022--Fundamental Reminder

☆ North America starts to implement Winter Time, the release time of trading hours and economic data in the U.S. and Canada financial markets will be delayed by one hour compared to Daylight Saving Time.

☆ 16:00 China announces foreign exchange reserves for October.

☆ 16:40 ECB President Lagarde gives a speech.

☆ 17:30 Eurozone Sentix Investor Confidence for November is released.

Global Market Trends Review

On Friday, November 4, the U.S. non-farm payrolls report for October failed to strengthen the Fed's hawkish interest rate hike expectations, the dollar index fell below 111, closing down 1.947% at 110.81, which was the largest single-day decline since March 2020. The euro broke through 0.99 against the dollar, soaring more than 2% during the day; the Australian dollar surged nearly 3% against the dollar; the dollar fell below 147 against the yen; the offshore yuan hit its biggest gain in 2005, once up nearly 1,700 points from the daily low.

U.S. bond yields rose and then fell, 10-year U.S. bond yields once surpassed 4.2%, then fell back, and finally closed up 0.89% at 4.16%; 2-year U.S. bond yields brushed a 2007 high of 4.88% after turning down, closing down 0.82% at 4.66%.

Boosted by the falling dollar, spot gold surged about $50 to close up 3.14% at $1,680.27 per ounce; spot silver closed up 7.07% at $20.84 per ounce.

Oil prices were positive Friday as investors expect crude supplies to tighten over the winter, while global demand remains relatively firm. WTI crude closed up 5.21% to a four-week high at $92.44 a barrel; Brent crude closed up 4.31% at $98.57 a barrel. Continental European benchmark Dutch natural gas futures fell more than 10% during the day, ICE U.K. natural gas futures closed down 9.12% and NYMEX December natural gas futures closed up 7.11%.

U.S. stocks rose at the beginning of the session, turned down during the session and rebounded at the end; the Dow closed up 1.26%, the Nasdaq closed up 1.28%, the S&P 500 index closed up 1.36%, the Nasdaq Golden Dragon index closed up nearly 9%; popular Chinese stocks rose in general, Beeper rose over 22%, Azera rose over 17%, Xiaopeng car rose over 14%, Jingdong, Azera rose 9%. The S&P 500 index fell 3.3% last week, the worst performance in the past six weeks.

European stocks closed sharply higher. Germany's DAX30 index closed up 2.51%, the FTSE 100 index closed up 2.03%, France's CAC40 index closed up 2.77%, the Euro Stoxx 50 index closed up 2.65%, Spain's IBEX35 index closed up 0.94%, Italy's FTSE MIB index closed up 2.54%.

Hot spots in the market

1. The foreign media reported that the US National Security Adviser had secret discussions with senior aides of Russian President Vladimir Putin in recent months to prevent the risk of escalation of the situation and keep communication channels open, rather than discuss solutions to the Russian Ukrainian conflict.

2. President Biden of the United States and Chancellor Schultz of Germany spoke on the phone.

3. Apple expects that the iPhone 14 Pro series shipments will be lower than expected and the delivery time will become longer.

4. American media: The United States privately asked Ukraine to be open to the Russian Ukrainian negotiations.

5. The World Meteorological Organization issued an interim report on the state of global climate in 2022, pointing out that it is only a matter of time before another warmest year on record occurs.

6. From November 6, the British national insurance rate has been lowered by 1.25%.

Geopolitical situation

Conflict situation:

1. Lugansk said that at 1:35 local time, the Ukrainian army used “Haima” to launch three rockets in the direction of Alchevsk.

2. Russian Ministry of Defense: Russian forces have killed 620 Uzbek troops and mercenaries in Donbas and Kharkov in the past 24 hours.

3. Ministry of Transport of Russia: Due to the maintenance and restoration work, the Crimean Bridge will be suspended from 4:00 to 16:00 on November 8, Moscow time.

4.The Ukrainian navy reported that as of Nov. 6, there were seven Russian warships on combat missions in the Black Sea, but none carrying Kalibr cruise missiles.

5. Ukrainian media: Yesterday, Russian troops attacked 7 settlements in Donetsk region, and attacked 7 communities in Sumy and Chernyev region with light weapons, mortars, drones and pipe guns.

6. Serhii Haidai, Director of the Military Administration of Lugansk Prefecture: The Russian army has received an order to destroy the defense line of the Ukrainian army in Lugansk region; In the past 24 hours, the Ukrainian air force has attacked seven Russian positions in Lugansk state.

7. The representative of the emergency department of Kherson Prefecture said that the Ukrainian army fired six rockets at the Kahovka Hydropower Station with the “Haima” system, five of which were shot down by the air defense system and one hit the gate, causing damage.

Nuclear power:

1. Russian Ministry of Defense: The Ukrainian army launched 15 large caliber shells to bomb the Zapolo nuclear power plant in 24 hours.

Energy Situation:

1. European Commission President von der Leyen said efforts were under way to provide more support to help Moldova meet its urgent gas and electricity needs.

2. An explosion at an oil terminal in the village of Golovchino, Belgoro State, Russia.

3. Mayor of Kyiv, Ukraine: Electricity and water may be cut in Kyiv. There is no power supply in the area, according to the regional energy provider in Kherson.

4. Us media: Kiev is preparing for the evacuation of about 3 million residents if the city loses power.

Institutional perspective

1. Goldman Sachs：Maintained oil price expectations for early 2023.

2. SOCIETE GENERALE：The Bank maintained the forecast of the Bank of England to raise interest rates by 75 basis points next week, and reached a peak of 4.5% at the meeting in March 2023.

3. MUFG：It is expected that the Bank of England will indicate that today's higher interest rate hike is unlikely to be the beginning of a series of higher interest rate hikes, and the market's expectation of further interest rate hikes may still be too radical.

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