- Chinese Stocks Lose Momentum Again as Hang Seng Index drops about 2% ahead of holiday, yuan weakens.
- US Futures Fluctuate, European Contracts Rise Slightly, and Japanese Shares Buck the Trend in Asia.
- Goldman Sachs strategists advise funds to consider hedging S&P 500 exposure due to risks of crowded bullish positioning, overblown valuations, and hawkish signals from the Fed.
- Bond Yields Fall in Asia, while Dollar Strength Inched Up against G10 currencies except the yen.
- Fed Chair Jerome Powell's semi-annual report to Congress expected to have a hawkish tone, with forecasts implying potential rate hikes.
- Oil Prices Rose Slightly as traders assess China's outlook and anticipate Powell's commentary.
- Bitcoin Hits Six-Week High on crypto initiatives involving major players from the traditional financial sector.
- UK inflation shocker, possible further rate hikes back Sterling.
Key events today:
UK inflation data
Federal Reserve Chair Jerome Powell delivers semi-annual congressional testimony before the House Financial Services Committee
Chicago Fed President Austan Goolsbee speaks
Dollar Index (DXY) Intraday:
Pivot Level: 102.55
Pivot Level: 1941.15
**Buy Bitcoin & Crypto's safely with a trusted company**
Crude Oil (WTI) Intraday:
Nasdaq 100 Intraday:
Our website offers information about investing, trading and saving, but not personal advice. If you're not sure which investments are right for you, please request advice, for example from your financial advisers. If you decide to invest or trade, remember that investments can go up and down in value, so you could get back less than you put in. ©2023 by Chump Profit.