S&P 500 and the Nasdaq recorded fresh all-time highs last week. Again, is it necessary for the Fed to cut rates given the strong performance in US indices and steady US data as of late? There is however strong divergence on the RSI which could be an early sign for a pull back on to the 50-day MA of $4,850.
The US GDP results for the 4Q2023 is expected to show a growth figure of 3.3%, down from 4.9% in 3Q2023 and the US PCE price index for January is expected to ease to 2.4%. Weaker than expected US GDP results coupled with a softer than expected PCE print will support a risk-on environment and vice versa.
The US GDP results for the 4Q2023 is expected to show a growth figure of 3.3%, down from 4.9% in 3Q2023 and the US PCE price index for January is expected to ease to 2.4%. Weaker than expected US GDP results coupled with a softer than expected PCE print will support a risk-on environment and vice versa.