Analyst
Bearish Preference: Sell position is envisaged if price trades below 29932 with take profit at 29773
Bullish Preference: Buy position is envisaged if price trades above 30078 with take profit at 30173
Prelim GDP q/q (USD) 2:30 PM
Unemployment Claims (USD) 2:30 PM
Revised UoM Consumer Sentiment (USD) 4:00 PM
FOMC Meeting Minutes (USD) 8:00 PM
Comment: The recent positive stance on the index continued in yesterday's session as clarity regarding the political transition in the US boosted sentiment. The nomination of the former Federal Reserve Chairperson, Janet Yellen as the Treasury Secretary coupled with the progress recorded in the development of COVID-19 vaccine, lend further support to the stock market. The gains are still limited by the rising number of new infections in the country, but the overall sentiment remains bullish.
Bearish Preference: Sell position is envisaged if price trades below 1794.48 with take profit at 1774.96.
Bullish Preference: Buy position is envisaged if price trades above 1813.98 with take profit at 1826.14
Prelim GDP q/q (USD) 2:30 PM
Unemployment Claims (USD) 2:30 PM
Revised UoM Consumer Sentiment (USD) 4:00 PM
FOMC Meeting Minutes (USD) 8:00 PM
Comment: Gold was down on Wednesday morning in Asia as investor risk appetite grows on vaccine hopes and turning away from safe-haven assets. Investors are turning away from risk-averse assets as vaccine developments give confidence to economic outlooks across the globe. Safe-haven assets, such as gold, are being pushed down consequently.
Bullish Preference: Buy position is envisaged if price trades above 0.6918 with take profit at 0.69970.
Bearish Preference: Sell position is envisaged if price trades below 0.69432 with take profit at 0.69217.
Prelim GDP q/q (USD) 2:30 PM
Unemployment Claims (USD) 2:30 PM
Revised UoM Consumer Sentiment (USD) 4:00 PM
FOMC Meeting Minutes (USD) 8:00 PM
Comment: The dollar nursed losses on Wednesday as progress in developing a novel coronavirus vaccine and expectations for a fiscal boost from a new U.S. government triggered a shift of funds from the greenback to riskier assets
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