Forex Newsletter: Fed Holds Rates, Awaiting More Inflation Data

The Forex newsletter for the day is here. Without further adieu, let’s dive in!

Dollar Index

Sell below 104.770
Downside Targets Looks 104.30/103.80
Stop loss above 105.250


Sell around $2315
Downside Target Looks $2305/2290
Stop-loss above $2326


Buy above $29.2130
Upside Target Looks $29.400/$29.600
Stop-loss below $29.00


Sell on rise $4.5200
Downside Target Look $4.3600/$4.200
Stop Loss above $4.6800


Buy above $79.70
upside Target $80.50
Stop-loss below $78.50


Buy above 20252
Upside Target Looks 20350/20450
Stop-loss below – 20150

S&P 500 E-Mini

Buy around 5545
Stop loss below 5480
Upside Target Looks 5600/5650


Buy around 0.90960
Stop Loss below 0.90400
Target- 0.9125/0.9200

Fed Holds Rates Steady, Eyes More Data on Inflation

Federal Reserve officials maintained the benchmark interest rate at 5.25%-5.5% after the June meeting, citing a need for more “good inflation” data before considering a rate cut. Chairman Jerome Powell emphasized a data-dependent approach, stating that decisions will be made meeting by meeting. Policymakers are divided on the timing of the policy pivot, with some projecting rate cuts as early as September while others expect a later move, potentially in December

Happy Trading!

Commodity Samachar
Learn and Trade with Ease

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