Instrument: GOLD+
Technical Analysis
Bullish Preference:
A buy position is envisaged if the price trades above 1978.54 with take profit at 1983.27.
Bearish Preference:
A Sell position is envisaged if the price trades below price 1972.22 with take profit at 1965.64.
Fundamentals:
1:30pm USD Unemployment Claims
Comment:
European stock futures mixed; Bank of England in focus after Fed hike. European stock markets are expected to open in a mixed fashion Thursday as investors digest the latest interest rate increase by the U.S. Federal Reserve ahead of a policy-setting meeting by the Bank of England. European equities are set Thursday to take their lead from the negative close on Wall Street overnight, with the benchmark Dow Jones Industrial Average dropping over 500 points, or 1.6%. This Fed raised its benchmark interest rate by 25 basis points as widely expected, forecasting at least one more hike this year, and saying it has no intention of cutting interest rates this year. The central bank also trimmed its outlook for annual GDP, with the banking turmoil likely to have an impact on growth.
Analysis: SCRUM Team
