Instrument: US30
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 30314 with take profit at 30440
Bearish Preference:
Sell position is envisaged if price trades below 29975with take profit at 29776
Fundamentals:
1:30pm USD Philly Fed Manufacturing Index
USD Unemployment Claims
Comment:
Dollar regained its footing on Thursday as investors continued to digest the impact of surging inflation and an aggressive policy tightening outlook from global central banks. In Asia, the turn lower in shares came after the U.S. Federal Reserve on Wednesday approved its biggest interest rate hike since 1994, lifting the target federal funds rate by 75 basis points to a range of between 1.5% and 1.75%. Fed officials also see further steady rises this year, targeting a federal funds rate of 3.4% by year-end. While equity investors initially cheered the widely expected move, rising unease over the course of the trading day ate away at gains.
Analysis: SCRUM Team