Gazprom halted gas supplies to the European Union, raising fears of a European gas crisis. Wall Street closed lower by more than 1%, after early trading rose significantly in response to the Aug. Unemployment Rate which rose to 3.7% (Vs. Jul. 3.5%). The increase in the Unemployment Rate, eased the concerns of the Fed’s aggressive Hawkish this September. Last Friday, Gazprom stopped the supply of natural gas to the European Union via the Nord Stream 1 pipeline indefinitely due to a technical malfunction. Gas prices are now four times higher than last year, forcing the closure of a number of European industries and weakening the euro. Meanwhile, Wall Street pressure also occurred amid low trading volume ahead of the holiday weekend and Labor Day on Monday.

In addition to an increase of more than 30%, investors are also looking at the impact of limiting the supply of subsidized fuel. JCI at the end of the week touched the level of 7,200, responding positively to the August annual Headline Inflation which was maintained at 4.69% (Vs. Jul. 4.94%) and monthly deflation of -0.21% (Vs. +0.64 %). However, the wait and see attitude of investors towards the increase in subsidized fuel prices caused the JCI to be trimmed or closed higher by only 24 points to the level of 7,177. However, the Monday (5/9) holiday on the Wall Street market commemorating Labor Day, has the opportunity to make JCI determine the direction of its own movement. NHKSI Research projects that JCI will move Sideways / Consolidating with Support: 7.140 / 7.080-7.070 / 7.050 / 7.020-7.000 and Resistance: 7,200-7,230 / 7,260.

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