Instrument: US500
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 4005.0 with take profit at 4018.9
Bearish Preference:
Sell position is envisaged if price trades below 3950.8 with take profit at 3936.1
Fundamentals:
USD 1:30PM Prelim GDP q/q
Unemployment Claims
3:00pm Pending Home Sales m/m
Comment:
Asian share markets slipped on Thursday on persistent concerns over growth in China and worries about the Federal Reserve’s intent to tighten policy quickly, confirmed in minutes of the early May rate-setting meeting released overnight. While Wall Street closed higher after the minutes, which showed a majority of Fed policymakers backed half-percentage-point rate hikes in June and July along with a unanimous view the economy was strong, the mood was subdued in Asia.
Analysis: SCRUM Team