Gold aspect:
At 20:30 Hong Kong time on Friday, the United States will release March retail sales data. Analysts say consumers are being forced to retrench in the face of stubbornly high inflation and high interest rates. U.S. retail sales data is known as "horror data" because it usually has a greater impact on financial markets , so it is likely to have an impact on the trend of assets such as the US dollar and gold. Retail sales measure what consumers spend on a range of everyday items, including cars, food and gasoline. The data will be an important indicator of how consumers are doing after the Federal Reserve's aggressive rate hikes. If the U.S. retail sales data for March is weaker than expected, the U.S. dollar may suffer further blows, which will drive other major non-U.S. currencies and gold to strengthen.
Suggestions for operation: Callback is mainly to do long, and rebound is supplemented by shorting.
On April 14 (Friday) Asian market, U.S. crude oil traded around $82.30 a barrel; oil prices fell 1% on Thursday, as OPEC ’s report aroused concerns about summer demand and economic recession fears recovered. The Organization of the Petroleum Exporting Countries (OPEC) on Thursday pointed to downside risks to summer oil demand as part of the backdrop for OPEC+ producers' unexpected production cuts announced on April 2. However, OPEC kept its forecast for global oil demand growth in 2023 unchanged. In its monthly report, OPEC said global oil demand would rise by 2.32 million bpd, or 2.3%, in line with its forecast last month. Asia's top crude importers are snapping up spot crude, even as refining margins show signs of stress, as the Saudi- led OPEC+ unexpectedly announced production cuts and pushed up global crude prices . Refiners in Asian countries including Japan and Thailand have been aggressively buying spot crude for June shipment this week, according to an anonymous trader. U.S. stocks ended sharply higher on Thursday as economic data showing cooling inflation and a slowing labor market fueled optimism that the Federal Reserve may be nearing the end of its aggressive rate-hiking cycle. Overall, despite OPEC+ announcing production cuts and Asian refiners rushing to buy spot crude oil, OPEC’s monthly report warned that summer demand is facing downside risks, limiting the rise in oil prices, and fears of an economic recession have picked up. Under the influence of multiple negative factors, oil prices may decline in the short term or fluctuate , focusing on the IEA monthly report within days.
Suggestions for operation: step back and step down mainly, supplemented by rebounding from high altitude.
Text/Tao Hongda, if you have any doubts about the market, I believe that I am your best choice, and I will give you advice at any time!