Instrument: US30
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 36237 with take profit at 36302 .
Bearish Preference:
Sell position is envisaged if price trades below 36148 with take profit at 36087.
Fundamentals:
2:30pm USD PPI m/m
USD Core PPI m/m
USD Unemployment Claims
4:00pm USD FOMC Member Brainard Speaks
7:01pm USD 30-y Bond Auction
Comment: U.S. stocks are seen opening marginally higher Wednesday, continuing the previous session’s positive trend ahead of the release of key inflation data which could provide clues as to when the Federal Reserve will start tightening monetary policy. This new positive tone faces a fresh test Wednesday with the release of the latest U.S. consumer inflation data. The headline CPI is expected to come in at a hefty 7% on a year-on-year basis, the biggest jump in prices since the early 1980s, as we see The U.S. inflation data as the next hurdle for the equity rally continuance
Analysis: SCRUM Team