Market News:
Data released on Thursday showed signs of a recovery in U.S. consumer demand amid rising inflationary pressures.
Data released by the U.S. Bureau of Economic Analysis (BEA) in June showed that inflation-adjusted consumer spending rose 0.3% month-over-month in May 2026, reversing the stagnation in April and indicating that household spending remains resilient.
The Federal Reserve kept interest rates unchanged at 3.50%-3.75% last week, but updated quarterly projections show that policymakers expect to raise rates this year due to heightened concerns about inflation. Financial markets are betting on a rate hike as early as September, with a possible further hike afterward.
Technical Analysis:
Today's Buy/Sell Threshold:
70.81
Support and Resistance Levels:
74.33
73.02
72.16
69.45
68.60
67.28
Trading Strategy:
If the price breaks above 72.16, consider buying with a first target price of 73.02.
If the price breaks below 70.81, consider selling with a first target price of 69.45.
Data released on Thursday showed signs of a recovery in U.S. consumer demand amid rising inflationary pressures.
Data released by the U.S. Bureau of Economic Analysis (BEA) in June showed that inflation-adjusted consumer spending rose 0.3% month-over-month in May 2026, reversing the stagnation in April and indicating that household spending remains resilient.
The Federal Reserve kept interest rates unchanged at 3.50%-3.75% last week, but updated quarterly projections show that policymakers expect to raise rates this year due to heightened concerns about inflation. Financial markets are betting on a rate hike as early as September, with a possible further hike afterward.
Technical Analysis:
Today's Buy/Sell Threshold:
70.81
Support and Resistance Levels:
74.33
73.02
72.16
69.45
68.60
67.28
Trading Strategy:
If the price breaks above 72.16, consider buying with a first target price of 73.02.
If the price breaks below 70.81, consider selling with a first target price of 69.45.
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.
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.