Recent US economic data were weak. The pace of economic recovery slowed in Philadelphia Federal Reserve district in September, the number of Americans who filed for unemployment benefits last week were higher than forecast, while US home builders started construction on new houses at higher pace in August. Thus, the Philadelphia Fed manufacturing index fell to 15 in September from 17.2 in prior month, initial jobless benefit claims increased 860,000 instead of forecast of 825,000, however housing starts rose 3% over year in August at a seasonally adjusted annual rate of 1.42 million. And with continuing claims at 12.63 million reflecting very elevated unemployment Fed chair Powell said it may take a long time for US economy to recover to full employment level. Weak economic data are bearish for SP500.
| Indicator | VALUE | Signal |
|---|---|---|
| RSI | Neutral | |
| MACD | Sell | |
| Donchian Channel | Sell | |
| MA(200) | Buy | |
| Fractals | Neutral | |
| Parabolic SAR | Sell |
| Order | Sell |
| Buy stop | Below 3309.83 |
| Stop loss | Above 3447.19 |
Market Analysis provided by IFCMarkets.com
By Neha Gour, George Mason University; Ed Maibach, George Mason University, and Luis Ortiz, George…
By JustMarkets On Monday, the US stock indices showed mixed dynamics, with the technology sector…
By Analytical Department RoboForex GBP/USD attempted to move closer to 1.3350 on Tuesday but remained…
By ForexTime SpaceX IPO scheduled for Friday 12th June $75 billion capital raise forecast –…
By JustMarkets On Friday, the American stock market went through one of the harshest crashes…
By Analytical Department RoboForex EUR/USD began the new week at 1.1520. The US dollar ended…
This website uses cookies.