MHMarkets ：MHM European Market

Market Overview

On Thursday (May 11), spot gold narrowly oscillated during the Asian session and is currently trading at 2032.70. Overnight inflation data is worse than expected by the market, the market is generally expected to the Fed will suspend interest rate hikes in June; market concerns about the U.S. debt default continued, which provide support for gold prices. However, the overall level of U.S. inflation is still high, so the Fed is unlikely to cut interest rates in the short term, which make the bulls wary.

U.S. crude oil is slightly higher and currently trading near $72.90 per barrel. This comes after data released in the U.S. showed strong demand for fuel, overshadowing the impact of doubts about a possible U.S. debt default.

U.S. April Consumer Prices rose, strengthening the likelihood that the Federal Reserve will keep interest rates high, which could have a ripple effect of reduced oil demand. In recent months, rising global interest rates have put pressure on oil prices, with traders worried about a recession.

Specific U.S. negotiations around raising the $31.4 trillion debt ceiling kicked off on Wednesday as Republicans continue to insist on spending cuts. The current impasse has unnerved investors, pushing the cost of guarantees on U.S. bonds to record highs as Wall Street grows increasingly concerned about the risk of unprecedented defaults.

But U.S. fuel demand is showing signs of strength. The U.S. Energy Information Administration (EIA) said Wednesday that gasoline inventories fell 3.2 million barrels to 219.7 million last week, beating analysts' expectations of 1.2 million barrels; distillate stocks also fell. The demand for U.S. aviation fuel rose to the highest level since December 2019.

This trading day will usher OPEC monthly report, and investors need to pay attention to it. In addition, focus on the U.S. initial jobless claims and U.S. April PPI data; pay attention to the G7 finance ministers and central bank governors meeting.

MHMarkets strategy is only for reference and not for investment advice. Please carefully read the statement at the end of the text. The following strategy will be updated at 15:00 on May 11, Beijing time.

Intraday   Oscillation Range: 1998-2007-2016-2033-2046-2057-2066-2077

Overall   Oscillation Range: 1730-1756-1780-1801-1817-1833-1856-1873-1889-1903-1911-1929-1937-1951-1978-1985-1998-2007-2016-2033-2046-2057-2066-2077-2089-2097-2100

In the subsequent period of spot gold,   1998-2007-2016-2033-2046-2057-2066-2077 can be operated as the bull and bear   range; High throw low suction in the range, chase up and kill down outside   the range!

Note: The above strategy was updated at 15:00 on May   11. This policy is a daytime policy. Please pay attention to the policy   release time.

Intraday Oscillation Range: 24.5-25.3-26.1-26.6

Overall Oscillation Range: 19.7-20.1-20.6-21.5-22.3-23.1-23.9-24.5-25.3-26.1-26.6-27.3

In the subsequent period of spot silver,   24.5-25.3-26.1-26.6 can be operated as the bull and bear range. High throw   and low suction in the range, chase up and kill down outside the range!

Note: The above strategy was updated at 15:00 on May   11. This policy is a daytime policy. Please pay attention to the policy   release time.

Intraday Oscillation Range:   71.2-72.3-73.1-73.8-75.1-77.9

Overall Oscillation Range:   62.1-63.7-64.5-65.8-66.9-67.3-68.9-70.1-71.2-72.3-73.1-73.8-75.1-77.9-78.5-79.9-80.7-82.3-83.5-85.3-87.3-89.1

In the subsequent period of Crude Oil,   71.2-72.3-73.1-73.8-75.1-77.9 can be operated as the bull and bear range.   High throw and low suction in the range, chase up and kill down outside the   range!

Note: The above strategy was updated at 15:00 on May   11. This policy is a daytime policy. Please pay attention to the policy   release time.

Intraday   Oscillation Range: 1.0690-1.0755-1.0830-1.0950-1.1157

Overall   Oscillation Range:   1.0290-1.0360-1.0460-1.0570-1.0690-1.0755-1.0830-1.0950-1.1157-1.1220-1.1303

In the subsequent period of EURUSD,   1.0690-1.0755-1.0830-1.0950-1.1157 can be operated as the bull and bear   range. High throw and low suction in the range, chase up and kill down   outside the range!

Note: The above strategy was updated at 15:00 on May   11. This policy is a daytime policy. Please pay attention to the policy   release time.

Intraday   Oscillation Range: 1.2375-1.2400-1.2470-1.2550-1.27000

Overall   Oscillation Range:   1.1610-1.1830-1.1920-1.2030-1.2135-1.2250-1.2375-1.2400-1.2470-1.2550-1.27000

In the subsequent period of GBPUSD,   1.2375-1.2400-1.2470-1.2550-1.27000 can be operated as the bull and bear   range. High throw and low suction in the range, chase up and kill down   outside the range!

Note: The above strategy was updated at 15:00 on May   11. This policy is a daytime policy. Please pay attention to the policy   release time.