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Instrument: US2000
Technical Analysis
Bullish Preference:
A buy position is envisaged if price trades above1 1803.1 with take profit at 1807.8
Bearish Preference:
A sell position is envisaged if price trades below price 1786.0 with take profit at 1781.2
Fundamentals:
3:00pm USD Existing Home Sales
7:00pm USD FOMC Economic Projections
USD FOMC Statement
USD Federal Funds Rate
7:30 pm USD FOMC Press Conference
Comment:
The dollar has also benefited from the widely held expectation that the U.S. Federal Reserve will announce an interest rate increase of at least 75 basis points later Wednesday as it attempts to combat stubbornly high inflation. That said, a full percentage point hike is not completely out of the question as last week’s consumer price index showed inflation remaining near 40-year highs. “There seems no reason for the Fed to soften the hawkishness shown at the recent Jackson Hole symposium and a 75bp ‘hawkish hike’ should keep the dollar near its highs of the year,” said analysts at ING, in a note.
Analysis: SCRUM Team
