MHMarkets：Federal Reserve Governor Michelle Bowman said she still believes the Fed will need to further raise interest rates to curb inflation.

At the end of the Asian market on Wednesday (November 8), Federal Reserve Governor Michelle Bowman recently stated that she still believes the Fed will need to further raise interest rates to curb inflation. Michel Bowman stated that; I still expect that we will need to further raise the federal funds interest rate in order to timely reduce the inflation rate to the target of 2%. Since September, the soaring yield of US treasury bond bonds has led to the tightening of the financial environment. The dollar index rose slightly yesterday, closing near the intraday midline. The dollar index rose at the opening of the Asian market today, but it has not yet broken through yesterday's high point. The current price is 105.69. Spot gold continued to fall yesterday, The US market period was supported below and ultimately closed near the intraday median. Gold faces further downside risks due to the easing of fundamental tensions. Early this morning, the US Energy Information Administration (EIA) lowered its forecast for future oil prices. EIA predicts that the price of Brent crude oil in 2023 will be $83.99 per barrel, compared to the previous estimate of $84.09 per barrel. The expected price of Brent crude oil in 2024 is $93.24 per barrel, compared to the previous estimate of $94.91 per barrel. Yesterday, US crude oil plummeted by more than 4% in the market. US crude oil continued to decline at the opening of the Asian market today, with support at 76.41 below, and the current price is around 76.98.

Multiple global data have fallen into a state of weakness, with the Eurozone's GDP in the third quarter falling into a contraction range and a 0.1% quarter-on-quarter decline from its initial value. The PMI of the Eurozone in October fell to its lowest level in nearly three years. EURUSD continued to decline yesterday, closing near the intraday median and continuing to decline at the opening of the Asian market today, with a current price around 1.06874. Earlier today, Bank of Japan Governor Kazuo Ueda stated that overall inflation is expected to slow down as cost drivers subside. However, in the medium to long term, he hopes to see inflation gradually accelerate. When there is no longer concern about the possibility of a sharp increase in risk premium, it may be possible to end the Bank of Japan's ETF purchases. After the speech by Kazuo Ueda, USDJPY quickly rose to near yesterday's previous high and broke through yesterday's high of 150.69 in the closing stage of the Asian market, with the current quotation around 150.66.

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 November 8, Beijing time.

Gold XAUUSD·
Resistance	1974.19 – 1984.62 – 1989.17
Support	1960.08 – 1956.60 – 1953.32
The above figure shows the 30 minute chart of   gold. The chart shows that the recent upward resistance of gold has been   around 1974.19-1984.62-1989.17, and the downward support has been around 1960.08-1956.60-1953.32.   The market will be judged by whether to break through the upper and lower   support and resistance.Note: The above strategy was updated at 15:00 on November 8. This policy is a daytime   policy. Please pay attention to the policy release time.

Crude Oil USOUSD·
Resistance	77.87 – 79.52 – 81.99
Support	79.36 – 75.81 – 74.47
The above chart shows the 30 minute chart of US   crude oil. The chart shows that the recent upward resistance of US crude oil   is around 77.87-79.52-81.99, and the downward support is around 79.36-75.81-74.47.   The market will be judged by whether to break through the upper and lower   support and resistance.Note: The above strategy was updated at 15:00 on November 8. This policy is a daytime   policy. Please pay attention to the policy release time.

EURUSD·
Resistance	1.0706 - 1.0723 - 1.0749
Support	1.0664 - 1.0619 - 1.0591
The above figure shows the 30 minute chart of EURUSD.   The chart shows that the recent upward resistance of EURUSD is around 1.0706-1.0723-1.0749,   and the downward support is around 1.0664-1.0619-1.0591. The market will be   judged by whether to break through the upper and lower support and   resistance.Note: The above strategy was updated at 15:00 on November 8. This policy is a daytime   policy. Please pay attention to the policy release time.

GBPUSD·
Resistance	1.2311 – 1.2347 – 1.2398
Support	1.2262 - 1.2185 – 1.2154
The above figure shows the 30 minute chart of GBPUSD.   The chart shows that the recent upward resistance of GBPUSD is around 1.2311-1.2347-1.2398,   and the downward support is around 1.2262-1.2185-1.2154. The market will be   judged by whether to break through the upper and lower support and   resistance.Note: The above strategy was updated at 15:00 on November 8. This policy is a daytime   policy. Please pay attention to the policy release time.