Supply concerns support oil prices, market balances impact of Fed rate hike-GKFXPrime

news headline
Amid economic concerns, the pound against the US dollar1.20Wandering nearby
Gold prices are rising due to the weakening of the US dollar; The actions of the Federal Reserve have attracted much attention
Oil prices rise due to the weakness of the US dollar, but under pressure from the Federal Reserve
The Nasdaq index fell with the US dollar, while oil prices strengthened ahead of the Federal Reserve meeting
The strengthening of the US dollar: reasons that are important to you
Mitsubishi UFJ: Euro to USD: Euro will continue to face downward pressure in the near future
euro/Short term yen: bullish


foreign exchange
Amid economic concerns, the pound is1.20Hovering around the US dollar
The pound will be held on Monday1.20Near the US dollar, traders are concerned about the outlook for the pound, following disappointing economic data released by the UK and widespread market expectations that the US will raise interest rates this week.
The pound is hovering around1.2040Near the US dollar, slightly lower than the one touched last Friday1.2064The high point of the US dollar in the past three weeks. The pound rose against the US dollar at one point0.5%, to1.2085The intraday high of the US dollar followed by a decline.
The GBP/EUR exchange rate remains stable at85.02Penny.
The UK economy is feeling inflationary pressure, with inflation rates approaching double digits, largely driven by soaring fuel prices.

futures
Gold prices are rising due to the weakening of the US dollar; The actions of the Federal Reserve have attracted much attention
Gold prices rose slightly on Monday, boosted by a slight decline in the US dollar and a drop in bond yields. Investors expect the Federal Reserve to raise interest rates later this week75Basis points.
The US dollar index has slightly declined0.4%Make it priced in US dollarsgoldIt has become cheaper for overseas buyers.
City IndexMarket analystFawad RazaqzadaAs concerns about the global economy replace inflation worries, gold prices are gaining support from the weakness of the US dollar and global bond yields.
Oil prices rise due to the weakness of the US dollar, but under pressure from the Federal Reserve
Oil prices rose by approximately on Monday2The US dollar, aided by supply concerns, a decline in the US dollar, and early strength in the stock market, showed a tug of war trend during trading. Some people are concerned that if the Federal Reserve raises US interest rates too aggressively, fuel demand may weaken.
In recent weeks, oil futures have fluctuated significantly due to market concerns that rising interest rates may limit economic activity and thus reduce fuel demand growth. But the tight supply also played a supporting role, especially after Russia's invasion of Ukraine and Western sanctions against Moscow.


shares
The Nasdaq index fell with the US dollar, while oil prices strengthened ahead of the Federal Reserve meeting
US stock market S&P500The index fluctuated on Monday, with the Nasdaq index closing lower. Oil prices rose, and the yield of treasury bond bonds rose slightly. Investors prepared for the expected interest rate hike at the Federal Reserve meeting this week and the financial reports of several growth stock giants.
In terms of currency, although the US dollar index has declined, it still remains above the two and a half week low hit last Friday, while gold prices have slightly risen.
US Treasury Secretary Yellen stated on Sunday that despite the slowdown in US economic growth, a recession is not inevitable.
The yield of US treasury bond bonds rose slightly, and investors are waiting for the Federal Reserve to raise interest rates later this week75By one basis point, concerns about economic slowdown and potential recession are intensifying.


The strengthening of the US dollar: reasons that are important to you
The US dollar is closely related to everyone, leaving its mark in every corner of the global economy: it is a currency for buying and selling important raw materials, and also a safe haven for investors to turn to during difficult times.
The exchange rate of the US dollar against other world currencies is currently at20The high point in recent years is partly due to market expectations that the Fed's rate hikes will exceed those of most countries.


Investment bank perspective
Mitsubishi UFJ: Euro to USD: Euro will continue to face downward pressure in the near future
We expect the euro to continue facing downward pressure in the short term due to concerns about energy supply shortages and the risk of fragmentation that could damage the eurozone economy
The Eurozone7monthPMIThe release of the survey results has further intensified people's perception that the Eurozone economy will experience a more severe slowdown in the second quarter of this year/Concerns about recession. We also anticipate that9month25Before the upcoming early elections, Italian bond yields will continue to face upward pressure. ”
We believe that the European Central Bank will not intervene to support the Italian bond market due to rising political uncertainty unless yields soar. We expect that the impact of these negative factors will outweigh the earlier tightening measures implemented by the European Central Bank

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