Instrument: US100
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 15041.19 with take profit at 15047.62.
Bearish Preference:
Sell position is envisaged if price trades below 15006.14 with take profit at 14998.37.
Fundamentals:
USD 1:30PM PPI m/m
Core PPI m/m
Unemployment Claims
Comment: The Federal Reserve received a boost Wednesday as U.S. consumer prices for July backed up its view that inflationary pressures would be temporary in nature, as the 0.5% CPI reading registered the largest drop in month-to-month inflation in 15 months. There is more inflation data due out Thursday, this time from producers at 1:30 PM. Analysts are looking for the headline PPI figure to rise 7.3% in July over last year, unchanged from the previous month, which was the largest annual increase in more than 10 years. In addition to persistently higher inflation, the Fed is also keeping an eye on the recovery in the labor market, and the weekly initial jobless claims data are also due Thursday.
Analysis: SCRUM Team
