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Instrument: DE30
Bullish Preference:
A Buy position is envisaged if the price trades above 16390.1 with take profit at 16412.4
Bearish Preference:
A Sell position is envisaged if the price trades below16329.0 with take profit at 16310.3
Fundamentals:
USD
Final Manufacturing PMI 3:45 PM
ISM Manufacturing PMI 4:00 PM
Fed Chair Powell Speaks 5:00 PM
Comment:
European stock markets rose Friday, extending November’s positive momentum on renewed hope that the European Central Bank has completed its rate-hiking cycle.
ECB officials have been keen to play down expectations of rate cuts next year, but the new governor of the Bank of Italy, Fabio Panetta, who is also a member of the ECB’s governing council, said on Thursday that the ECB must not cause “unnecessary damage” to the economy and financial stability through sustained high-interest rates.
ECB President Christine Lagarde is set to speak later in the session, ahead of an appearance from Fed Chair Jerome Powell, and their views on future monetary policy will be studied carefully.
Analysis: SCRUM Team
