Trading Insights: Lots of cash on the sidelines could lift risk assets further
Commentary & insights
USD cash available for investments are at all time record highs.
Source: TradingView 30.06.2023 7:39 UTC
At the same time risk assets have been trending higher.
Source: Tradingview 30.06.2023 7:43 UTC
The potential for risk assets to surge even higher remains if all that cash sitting on the sidelines starts to flow into stock markets and other investments.
Today’s economic calendar
Core personal consumption price index (PCE) on deck
- High price action across USD assets expected
- PCE is a key indicator of inflation and one that the US Fed pays a lot of attention to.
- With increasing speculation that the US Fed is not done hiking rates, if today's PCE data come in “hot” then that speculation could move a step closer to becoming a reality.
Source: TradingView / J. Knobel June 30 2023 7:58 UTC
Technical trade commentary
Dowjones 30 index price remains contained in multi-month upward sloping price channel: Bullish outlook
- Dowjones 30 Index currently at $34,139. Upside prospects for a test of the 52 weeks near the $35,490s remains provided price can remain within the prevailing multi-month upward moving price channel (see chart). Downside risk seen below the $31,680 lower support.
Germany 40 index - bullish outlook on break above the €16,044 resistance
- Germany 40 Index currently at €16,034 and is facing very short term resistance at €16,044. A break above could increase the prospects for an extension move towards the €16,720s, downside risk seen below the €15,800 support.
Not investment advice. Past performance does not guarantee or predict future performance.
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