Mohicans markets：MHM Today’s News

November 25, 2022-Fundamental Reminder

☆ U.S. stocks close early, CME and ICE partial contract trading ends early.

☆ 15:00 Germany releases December Gfk consumer confidence, final value of non-seasonally adjusted annualized rate for Q3 GDP.

MHMarkets -Market Overview

Review of Global Market Trend

On Thursday, November 24, U.S. stocks and bonds were closed due to the U.S. Thanksgiving holiday, and precious metals and crude oil contracts ended trading early, with light trading during the day.

The dollar index extended its decline and lost the 106 mark, hitting a three-month low, closing down 0.23% at 105.85. Spot gold pushed up to $1760, closing up 0.35% at $1755.79 per ounce. Spot silver closed down 0.12% at $21.51 per ounce.

Crude oil fell before rising, WTI crude oil once fell below $77, and eventually closed up 0.65% at $77.94 per barrel; Brent crude oil daily low below $84, and eventually closed up 0.57% at $85.01 per barrel.

European stocks closed up collectively, Germany's DAX30 index closed up 0.79%, the FTSE 100 index closed up 0.01%, France's CAC40 index closed up 0.42%, the European Stoxx 50 index closed up 0.41%, Spain's IBEX35 index closed up 0.75%, Italy's FTSE MIB index closed up 0.59%.

Hot Spots in the Market

1. Minutes of the Federal Reserve's November meeting: Most officials support slowing interest rate hikes; The terminal interest rate will be higher than expected. 1. Some EU countries are dissatisfied with the proposal of a natural gas price ceiling of 275 euros per megawatt hour. The energy crisis measures have been temporarily shelved and will be discussed again in mid December.

2.100 million poultry have been culled, and Europe and the United States are experiencing the largest bird flu epidemic at the same time.

3. The central bank of Türkiye cut interest rates and announced the end of the interest rate cutting cycle, and the Türkiye lira exchange rate is still at the lowest level in history.

4. Russian media: The Russian Ministry of Finance does not intend to immediately restrict gold sales, and may impose restrictions on bulk exports in the future.

5. The Supreme Head of Malaysia Abdullah announced Anwar as the new Prime Minister of Malaysia.

6. Ghana plans to use gold instead of US dollar reserves to purchase petroleum products.

Geopolitical Situation

Conflict Situation:

1. Putin: At present, no additional measures need to be taken for special military operations.

2. On the 24th, Zelensky held a meeting of the Supreme Command to discuss the support of the army's weapons, equipment, ammunition and winter supplies.

3. Russian Ministry of Defense: On November 23, the Russian army did not strike any targets in Kiev.

4. British military intelligence agency: In the past two weeks, Russia may have redeployed the main VDVs (airborne troops) to the Donetsk and Lugansk fronts in the Donbas region.

5. According to Interfax News Agency, Russia said that it had foiled the destruction of Türkiye Stream natural gas pipeline.

Energy Situation:

1. The EU shelved energy crisis measures on Thursday to solve the problem of gas price ceiling; Member States have reached agreement on the contents of several emergency measures, but the issue of tools to deal with soaring prices is still pending, and the formal voting time has been postponed to the middle of December.

2. Most EU countries support limiting the price of Russian oil to 65-70 US dollars/barrel, but Poland insists on setting it at 30 US dollars/barrel. Estonia says that it will resort to veto if the upper limit is too high.

3. According to Ukrainian media, power supply was restored in seven states after the attack on infrastructure in Ukraine. Ukraine Power Grid Corporation said that after the repair of the grid, Ukraine's power gap was less than 50%.

4. National Bureau of Statistics of the Russian Federation: In the first 10 months, Russia's natural gas production decreased by 13% year on year, and LNG production increased by 10.6% year on year.

5. Biden: He held a dialogue with Finance Minister Yellen on the oil price ceiling.

Institutional Perspective

1. Goldman Sachs：The Federal Reserve expects to suspend tightening in the middle of next year, and commodities will have a better time

2. SOCIETE GENERALE：The S&P 500 index is expected to reach 3800 points by the end of 2023

3. MUFG：New Zealand Federal Reserve's interest rate decision may support New York in the short term

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