Instrument: US2000
Technical Analysis
Bullish Preference:
A Buy position is envisaged if price trades above 1841.3 with take profit at 1846.3
Bearish Preference:
A Sell position is envisaged if price trades below price 1822.9 with take profit at 1816.8
Fundamentals:
1:30 PM Core PPI
Core PPI m/m
Comment:
The U.S. dollar stabilized in early European trade Wednesday, pausing for breath after the previous session’s sharp gains in the wake of the hotter-than-expected U.S. inflation report. U.S. inflation turned out stronger than expected in August. In particular, the so-called ‘core CPI’ rose a thumping 0.6%, twice what was expected, driving the annual core inflation rate up to 6.3% from 5.9% in July. That’s the highest it’s been since the 40-year high that it hit in March.
Analysis: SCRUM Team
