PU Prime App
Exclusive deals on mobile
PU Prime App
Exclusive deals on mobile
Tenir les marchés mondiaux entre vos mains
Notre application de trading pour mobile est compatible avec la plupart des appareils intelligents. Téléchargez l’application dès maintenant et commencez à trader avec PU Prime sur tout appareil, à tout moment et en tout lieu.
23 June 2022,05:54
Weekly Outlook
23 June 2022, 05:54
On Wednesday afternoon, 22 June, Fed Chairman Jerome Powell made his semi-annual testimony to the Senate Banking Committee. In his testimony, Powell highlighted that the Fed was “strongly committed” to bringing down inflation and that the American economy is in a strong position to handle the continued rate hikes. However, Powell has also noted that a recession is a “possibility” and that a “soft landing” would be difficult given the 40-year high inflation, and uncontrollable external factors affecting the prices of oil and food.
Wall Street executives aren’t optimistic about the future. Deutsche Bank CEO Christian Sewing has estimated a 50% chance of a recession happening, while Citi’s Kristin Bitterly has given a 40% forecast.
Meanwhile, President Joe Biden has also announced a 3-month gasoline tax holiday that would save consumers a tax of 18.4 cents per gallon of petrol and 24.4 cents for diesel.
Post Market
Increased fears of recession stoked by Powell’s testimony, coupled with the gasoline tax announcement, prompted the price of crude to head south. WTI fell up to 7% on Wednesday to $101.53, recovering slightly to $102.95 as of writing. August WTI futures stand at around $103.
Crude prices have cooled almost 22% from March’s high of 22%, although they are still a distance from the $92 range seen before the Russian invasion.
While Biden’s gas tax holiday is meant to provide some relief from inflation, critics have also spoken out against the move, calling it a “gimmick” that would drive up demand – when there’s not enough supply – and conversely, cause oil prices to go up.
Powell’s testimony was also followed by equities edging downwards, with the DJIA down 0.15%, the S&P 500 down 0.13%, and the Nasdaq down 0.15%.
Investors are now advised to pay close attention to the upcoming US Initial Jobless Claims figures, which will be released on Thursday, 23 June at 15:30 (GMT+3).
As a friendly reminder, do keep an eye on market changes, control your positions, and manage your risk well.
Tradez le Forex, les indices, Métaux et plus encore avec des spreads faibles et une exécution ultra-rapide.
Inscrivez-vous pour un compte réel PU Prime grâce à notre procédure simplifiée.
Approvisionnez facilement votre compte grâce à un large éventail de canaux et de devises acceptées.
Accédez à des centaines d’instruments avec les meilleures conditions de trading.
Plaquettes de trading
Formation
Entreprise
FAQs
Application PU Prime - Commencez à trader avec un avantage
Risk Warning: Trading Contract for Difference (CFD) carries a high level of risk to your capital and may result in losses that exceed your deposits due to leverage. It's important to understand how CFDs work and assess whether you can afford the high risk of losing your money. When acquiring our derivative products, you do not own or have rights in the underlying assets. Past performance is not indicative of future results. The information on this website is general and does not take into account your personal objectives, financial circumstances, or needs. Seek independent advice from qualified experts if necessary, and ensure you fully understand the risks before making any trading decisions.
PU Prime is a brand name of different entities authorised and registered in various jurisdictions.
PU Prime Limited is authorized and regulated by the Financial Services Authority of Seychelles under License No. SD050, with registered address at CT House, Office 1A, Providence, Mahe, Seychelles.
PU Prime Ltd is authorized and regulated by the Financial Services Commission of Mauritius under License No. GB23202672, with registered address at Suite 201 Level 2, The Catalyst Building, 40 Silicon Avenue, Cybercity Ebene, Mauritius.
PU Prime (Pty) Ltd is an authorised Financial Services Provider registered and regulated by the Financial Sector Conduct Authority of South Africa under License No. 52218, with registered address at 37 Harley Street, Ferndale, Randburg, Gauteng, South Africa.
The information on this website is not intended for residents of certain jurisdictions, including the United States, Singapore, Australia, China, Russia, and jurisdictions listed on the FATF and EU/UN sanctions lists. It is not intended for distribution or use where such distribution or use would be contrary to local law or regulation. While the Authority has granted a securities or derivatives investment business licence to the Licensee, it does not endorse the products offered.
Finzero Cap Ltd, registered in the Republic of Cyprus with registration number HE414308 and registered address at 62 Athalassas, Mezzanine, Strovolos 2012, Nicosia, Cyprus.
Copyright © 2024 PU Prime.
