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Instrument: USDIDX
Bullish Preference:
Buy position is envisaged if price trades above 104.208 with take profit at 104.349
Bearish Preference:
Sell position is envisaged if price trades below 103.781 with take profit at 103.606
Fundamentals:
2:30pm
USD Unemployment Claims
Comment:
Investment banks and asset managers have wildly varying stock market and currency calls for 2024, reflecting deep division over whether the U.S. economy will enter a long-heralded recession and drag the world with it.
The lack of consensus among forecasters is a stark contrast to a year ago, when most predicted a U.S. recession and rapid rate cuts that failed to materialise. The world’s largest economy expanded by 5.2% in the third quarter of this year.
The divisions this year have produced a scattergram of projections for the U.S. interest rate path and how global assets that are influenced by the Federal Reserve’s actions will perform.
Analysis: SCRUM Team
