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Instrument: UK100
Technical Analysis
Bullish Preference:
A buy position is envisaged if price trades above 7601.1 with take profit at 7607.7
Bearish Preference:
A sell position is envisaged if price trades below 7586.8 with take profit at 7581.7
Fundamentals:
1:15pm
EUR Main Refinancing Rate
EUR Monetary Policy Statement
1:45pm
EUR ECB Press Conference
Comment:
European shares rose on Wednesday, supported by banks and miners, ahead of a broadly priced-in pause in interest rate hikes by the U.S. Federal Reserve. The European Central Bank will hold its policy meeting on Thursday, where it is expected to hike rates by another 25 basis points to tame stubborn inflation. Markets are looking for more economic data and updates from major central banks to drive a definitive move, as the STOXX 600 stays restricted to a 1% trading range for over a week.
Analysis: SCRUM Team
