It may still take several days for the full-scale resumption of operations of federal government agencies after the end of the longest government shutdown in U.S. history.
The House passed a temporary spending bill Wednesday night by a vote of 222 to 209, but the measure was opposed by most Democrats because it did not include their core demand in the government shutdown fight: extending the soon-to-expire subsidies for health insurance policies under the Affordable Care Act.
As the government halted the release of key economic data during the shutdown, the financial market’s assessment of the economic situation has also become unclear. White House Press Secretary Caroline Levitt said on Wednesday that due to the government shutdown, the October employment report and the consumer price index report are unlikely to be released.
Levitt did not make clear whether she was referring to the entire employment report or just a part of it. The report is composed of two surveys – one for businesses, which yields the main wage data; and another for households, which yields the unemployment rate. While many businesses keep records and report the data electronically on their own, it is more difficult to conduct a retrospective survey by calling employees and asking about their employment status in a specific week of October.
White House National Economic Council Director Kevin Hassett told CNBC on Tuesday: “I’ve heard that some surveys weren’t even completed, so we may never know what happened that month. We may be in a period of fog for a while until the data agencies get back to normal operation.”
Levitt expressed concern, saying that the lack of data “makes the Fed’s policymakers feel like blind men touching an elephant at a crucial time.” Fed officials will meet again on December 9th and 10th to decide whether to cut interest rates for the third time this year.
Technical analysis:
The WeChat functions are subject to occasional restrictions. If you want to experience the plugin, please leave your contact information when adding a friend so that we can add you back easily!!!
Gold: The blue buy stop operation we alerted yesterday hit the mark right away, achieving a profit-to-loss ratio of around 12 times. We suggest reducing positions and setting protective measures today. Continue to maintain an active mindset for catching long positions. For detailed positions, please consult the plugin.
(Gold 15-minute chart)
The plugin is updated from 12:00 to 13:00 every trading day. If you want to experience the same plugin as shown in the chart, please contact V: Hana-fgfg and leave your contact information for us to get back to you.
Nasdaq: The strategy of buying after the pullback following the breakout in the blue zone yesterday could have worked, but it was short of the 1:1 profit-to-loss ratio by 7 basis points. For today, we will keep an eye on the Nasdaq’s characteristic of sweeping liquidity intraday. We will wait for the price to dip to 25,200/25,300 before attempting to catch the rebound signal. For detailed positions, please consult the plugin.
(NASDAQ 15-minute chart)
The plugin is updated from 12:00 to 13:00 every trading day. If you want to experience the same plugin as shown in the chart, please contact V: Hana-fgfg and leave your contact information in the message for us to reply.
Crude oil: Due to the decline in the prices of risky assets such as the stock market, crude oil prices failed to hold support near 60 and dropped by around 2 dollars to the 58-58.50 range. We suggest observing for the time being today. For detailed positions, please consult the plugin.
(Crude Oil 15-Minute Chart)
The plugin is updated from 12:00 to 13:00 every trading day. If you want to experience the same plugin as shown in the picture, please contact V: Hana-fgfg and leave your contact information in the remarks for us to add you back.
