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The market waited for Powell's speech, the futures of the three major U.S. stock indexes rose slightly, and the dollar rose for three consecutive days
On November 8, Federal Reserve Chairman Jerome Powell was about to deliver a speech, the futures of the three major U.S. stock indexes rose, and European stocks rose more and fell less, due to the lack of demand for crude oil, oil prices continued to be under pressure.
The futures of the three major U.S. stock indexes rose slightly, and the Dow futures, which are dominated by blue chips, rose 0.1%; S&P 500 futures rose 0.07%; Technology-heavy Nasdaq 100 futures rose 0.01%.
European stocks edged higher, with Germany's DAX up 0.03%, Britain's FTSE 100 up 0.03%, France's CAC up 0.25%, and Euro Stoxx 50 up 0.02%.
There was little economic data this week, and the focus of the market was on Fed officials' statements, looking for "clues" on whether the Fed has ended raising interest rates.
At 22:15 Beijing time on November 8, Federal Reserve Chairman Jerome Powell will deliver a speech at an event in Washington.
The U.S. dollar strengthened for three consecutive days, and U.S. Treasuries fell slightly
Earlier, the hawkish statements of two senior Fed officials strengthened the dollar for three consecutive days, and the dollar index rose 0.29% to 105.82 as of press time.
The euro weakened after data showed German inflation fell to its lowest level in more than two years.
The yield on 10-year U.S. Treasury bonds also edged up 3 basis points to 4.6% from 4.570% on Tuesday, and as of press time, the yield on 10-year U.S. Treasury bonds was little moved.
Francesco Pesole, a currency strategist at ING, said that the data in the United States has been very calm, so the main driver of the dollar's growth is the hawkish comments of the Fed speaker. They still believe that the Fed will need to raise interest rates to curb inflation.
Oil prices continued to decline
Concerns about insufficient demand for crude oil spread, and oil prices extended Tuesday's decline, with WTI and Brent both falling nearly 1%.
WTI crude fell 0.92% to $76.66.
Brent crude oil fell 0.83% to $80.93.
The U.S. Energy Information Administration (EIA) lowered its forecast for future oil prices. The EIA expects Brent to be $83.99/b in 2023 (previously expected to be $84.09) and $93.24/b in 2024 (previously expected to be $94.91).