The index has come under pressure following the hawkish stance of some members of the FOMC to support rate hikes and the continuous increase in the number of fresh infections on diverse variants of COVID-19 around the globe. Lael Brainard signalled the Fed could start raising rates as early as March. This statement lends more support to the stance of other Fed officials like Charles Evans, Chicago Fed President and Patrick Harker, Philadelphia Fed President talking about tighter monetary policies in the US to control inflation.
The index is currently retracing from the 15443 support zone and is expected to get rejected at the local resistance at 15550, supporting a move to the downside (a sell) with stop loss at 15717 and a take profit at 15222
Core Retail Sales m/m (US) 2:30 PM
Retail Sales m/m (US) 2:30 PM
Industrial Production m/m (US) 3:15 PM
Prelim UoM Consumer Sentiment (US) 4:00 PM
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