FED pauses for the second time. Markets look into the mirror and infer the future from the empirical evidence.
FED Chair, press conference, gives more than enough to everyone, it is all over, bonds rise (yields fall) first on the back drop of reducing the long dated bond issuance, then the PMI softer data on the back of falling new orders.
Atlanta FED is projecting much sharper fall in the GDP growth. In FED words, the lag effect is coming, time to assess its impact than end up rising too much too fast.
It all depends on the JOB markets, thus the JOB numbers tomorrow. One more day, to carry or not to carry the positions over the weekend remains the greatest skill of the traders. Incoming economic data, chorus of the Europe inflation is falling down, BOJ holding on to the YCC, all points to some moderation of rate hikes. Inflation is not going in a hurry. A decent but not a change in trend.
For the bank nifty, the price action is doing round trips below the 233 DMA around the 43200-300 a close above that is needed to bring back the confidence, that is eluding.
42700-43300 range continues to be the ideal price approach. Will the overseas cues filter at the end of the day is what is the moot question. Corporates reverting to huge local borrowing, incoming IPO's can be a liquidity dampener.
FED Chair, press conference, gives more than enough to everyone, it is all over, bonds rise (yields fall) first on the back drop of reducing the long dated bond issuance, then the PMI softer data on the back of falling new orders.
Atlanta FED is projecting much sharper fall in the GDP growth. In FED words, the lag effect is coming, time to assess its impact than end up rising too much too fast.
It all depends on the JOB markets, thus the JOB numbers tomorrow. One more day, to carry or not to carry the positions over the weekend remains the greatest skill of the traders. Incoming economic data, chorus of the Europe inflation is falling down, BOJ holding on to the YCC, all points to some moderation of rate hikes. Inflation is not going in a hurry. A decent but not a change in trend.
For the bank nifty, the price action is doing round trips below the 233 DMA around the 43200-300 a close above that is needed to bring back the confidence, that is eluding.
42700-43300 range continues to be the ideal price approach. Will the overseas cues filter at the end of the day is what is the moot question. Corporates reverting to huge local borrowing, incoming IPO's can be a liquidity dampener.
TA Primer ping me on +971507107155 +918106170817 details @sribhashyam65 twitter handle
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
TA Primer ping me on +971507107155 +918106170817 details @sribhashyam65 twitter handle
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.