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Instrument: US100
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 14794.04 with take profit at 14812.41.
Bearish Preference:
Sell position is envisaged if price trades below 14713.41 with take profit at 14692.17.
Fundamentals:
USD 1:30PM Philly Fed Manufacturing Index
Unemployment Claims
Comment: After the minutes of the July Federal Reserve meeting showed that most policymakers believe it could be appropriate for the central bank to start reducing bond purchases this year. Concerns are growing that the reining in of the Fed’s pandemic-era stimulus measures could occur just as the global economic recovery is showing signs of stalling, as countries take measures to combat the spread of the delta variant of the Covid-19 virus. Also weighing has been more weakness in Asia amid continued concerns over the Chinese government’s regulatory crackdown on the tech industry.
Analysis: SCRUM Team
