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Instrument: USDIDX
Bullish Preference:
Buy position is envisaged if price trades above 105.630 With take profit at 105.837
Bearish Preference:
Sell position is envisaged if price trades below 105.279 with Take profit at 105.082
Fundamentals:
1:30pm USD Core PPI m/m
USD PPI m/m
3:15pm USD FOMC Member Waller Speaks
7:00pm USD FOMC Meeting Minutes
Comment:
Emerging markets are also predicted to experience minor shrinkage in growth. The medium-term global growth forecast is at a record low of 3.1%. Even though a gradual decrease in inflation is expected, it’s unlikely to reach target levels until as late as 2025.
During these meetings, IMF chief Kristalina Georgieva acknowledged a $3.6 trillion global output loss since 2020 but dismissed the role of these institutions in socio-economic issues through austerity measures. An example of this was Nigeria’s energy subsidy reform that resulted in fuel prices tripling.
Analysis: SCRUM Team
