Instrument: US100
Bullish Preference:
A buy position is envisaged if the price trades above 15603.58 with take profit at 15644.67.
Bearish Preference:
A sell position is envisaged if the price trades below 15504.08 with take profit at 15447.62.
Fundamentals:
2:45pm
USD Flash Manufacturing PMI
USD Flash Services PMI
Comment:
Wall Street’s main indexes were set to open higher on Monday as investors geared up for earnings from megacap growth and technology companies, with focus also on a rate decision from the Federal Reserve later this week. The electric-vehicle maker eased 1.5% in premarket trading after UBS downgraded its rating on the stock, while other megacap growth and technology shares edged higher. The centerpiece event of the week is the Fed’s policy meeting, with the central bank expected to raise interest rates by 25 basis points on Wednesday. A majority of economists polled by Reuters still expect this will be the last increase of the current tightening cycle, after data this month showed signs of disinflation, eliminating the need for the Fed to lift rates further and supporting the thesis that has helped buoy stocks in recent weeks.
Analysis: SCRUM Team