Instrument: US500
Bullish Preference:
A buy position is envisaged if the price trades above 4536.7 with take profit at 4547.3.
Bearish Preference:
A sell position is envisaged if the price trades below 4521.6 with take profit at 4515.2.
Fundamentals:
1:30pm
USD Core PCE Price Index m/m
USD Unemployment Claims
Comment:
U.S. stocks ended higher and the dollar extended its losses on Wednesday, as a slew of disappointing economic data raised the probability that the Federal Reserve will press the pause button in its efforts to rein in inflation.Weak economic data could be good news for interest rates, as it could give the Federal Reserve a rationale for letting key interest rates stand at next month’s monetary policy meeting.
Analysis: SCRUM Team