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Instrument: USDIDX
Bullish Preference:
Buy position is envisaged if price trades above 106.380 with take profit at 106.517
Bearish Preference:
Sell position is envisaged if price trades below 106.165 with take profit at 106.052
Fundamentals:
1:30pm USD Empire State Manufacturing Index
3:30pm USD FOMC Member Harker Speaks
9:30pm USD FOMC Member Harker Speaks
Comment:
U.S. President Joe Biden will host European Commission chief Ursula von der Leyen and European Council head Charles Michel on Friday for a one-day summit designed to show transatlantic unity toward Ukraine and economic topics.
Chief among the latter will be a proposed joint statement on steps to tackle global overcapacity of steel and aluminium and to promote sustainable production.
Washington has asked Brussels to move against Chinese steel producers in particular in return for avoiding the re-imposition of Trump-era tariffs on EU steel and aluminium, with an end-October deadline to reach an agreement.’253
Analysis: SCRUM Team
