Instrument: US100
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 14076.17 with take profit at 14098.76.
Bearish Preference:
Sell position is envisaged if price trades below 13996.34 with take profit at 13970.12.
Fundamentals:
USD 7:00 pm FOMC Economic Projections
FOMC Statement
Federal Funds Rate
USD 7:30 pm FOMC Press Conference
Comment: Wall Street’s main indices closed lower on Tuesday as data showing stronger inflation and weaker U.S. retail sales in May spooked already-jittery investors awaiting the results of the Federal Reserve’s latest policy meeting.
Retail sales and producer prices for May both came out this morning, and an initial glance might reinforce impressions that the Fed is less likely to make any policy moves. First a look at the data and then an explanation. The strong PPI data follow a May consumer price report last week that also was higher than expected, and suggests producers are having to pay up for raw materials.
Analysis: SCRUM Team