10 June 2024 Foreign

  

Crude, Gold, HSI, Dow, S&P 500 and Nasdaq

 

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E-Mini Dow

 

After unexpectedly good U.S. monthly jobs data reduced expectations that the Federal Reserve would soon follow interest rate cuts in the euro zone and Canada, which caused Treasury yields to spike higher, global markets withdrew from their all-time high on Friday.

The largest economy in the world added 272,000 jobs last month, exceeding the 185,000 hirings analysts had forecast. This defied financial orthodoxy, which held that the labor market had slackened just enough to drive down consumer prices.

 

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Plan A: Short positions may be opened below 38700. Targets at 38659/ and stop-loss at 38800

Plan B: Consider long position may be opened below 38800. Targets at 38700/38555 and stop loss at 38950

E-Mini S&P 500

Robert Half, Comerica, and Illumina are removed from the large-cap benchmark as a result of the index's rebalancing.

Web host GoDaddy Inc., private equity behemoth KKR & Co. Inc., and cybersecurity startup CrowdStrike Holdings Inc. are scheduled to debut in the S&P 500 index at the opening of trading on June 24, according to a late-night announcement from index producer S&P Dow Jones Indices.

 

 

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Plan A: Long if market supported firm above above 5385. Targets at 5413/5420 and stop-loss at 5355

Plan B: Short if market failed to support 5328. Targets at 5315/5300 and stop loss at 5352

E-Mini Nasdaq

 

Stronger-than-expected U.S. jobs numbers on Friday indicated a robust economy, but they also raised concerns that the Federal Reserve could delay cutting interest rates longer than many investors had hoped. Wall Street equities ended the day slightly lower in volatile trading.

According to a Labor Department estimate, the U.S. economy created roughly 272,000 jobs in May, significantly more than the 185,000 economists had predicted. The jobless rate gradually increased to 4%. 

 

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Plan A: Long if market retraced but supported firm 19150. Targets at 19200/19240 and stop-loss at 19080 

 

Plan B: Short if market fall below 18933. Targets at 18800/18840 and stop loss at 19050

 

HSI

According to the article, regulatory bottlenecks on the mainland prompted the move from Shenzhen to Hong Kong.

According to the article, the intended IPO is anticipated to occur in the upcoming quarters. According to the source, the battery manufacturer filed IPO filings to the ChiNext board in 2023 and has already received 1.65 billion yuan in a funding round, valuing the company at 36 billion yuan.

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Plan A: Consider long only if the market stays above 18347. Target at 18484/18600 and stop-loss at 18200

Plan B: Remain short if the market stays below 18090. Targets at 18000/17950 and stop loss at 18250

WTI Crude

Commerzbank said in a report on Friday that major energy agencies are expected to confirm an oil supply deficit in their fresh projections this week.

The U.S. Department of Energy's weekly inventory reports have recently painted a more relaxed picture, so the bank pointed out that the industrial oil stocks in the OECD countries for the month of April are particularly noteworthy in the International Energy Agency's report

 

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Plan A: Remain short as long as oil price stays below 75.05. Targets at 74.62/74.04 and stop loss at 76.12

Plan B: Consider long only if oil price stays above 76.12. Targets at 76.70/77.16 and stop-loss at 75.05

 

Gold

The collapse of the Mexican peso has signaled a cleansing of carry trades from currency markets, which could have significant effects on foreign exchange markets beyond the currencies involved.

Mexico's peso, which has been a key element of the favored carry trades this year, has rapidly declined. Other currencies that have been favored in foreign exchange rate manipulation, such as the rand in South Africa and the zloty and forint in Hungary, have come under pressure as a result. Pressure has also been applied to the Turkish lira.

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Plan A: Remain long as long as gold price stays above 2345.3. Targets at 2380.2/2395.5 and stop-loss at 2283.9

Plan B: Attempts short only if gold price stays below 2283.9. Targets at 2260.2/2242.8 and stop loss at 2345.3

 

 

Disclaimer: This information is intended to assist professional investors. News are credit courtesy of Reuters, Nasdaq.com, Bloomberg, CNN, Market Watch, FT.com, the Star online, forbes.com, mining.com and CNBC. The information does not constitute investment advice or an offer to invest or to provide management services and is subject to correction, completion and amendment without notice.As with all investments, there are associated risks and you could lose money investing. Prior to making any investment, a prospective investor should consult with its own investment, accounting, legal and tax advisers to evaluate independently the risks, consequences and suitability of that investment.