S&P 500 : Significantly higher before the resumption of Sino-American talks
Check out the trading range breakout
2855 / 2960
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After finishing down sharply by 1.56% to 2893 points yesterday, amid uncertainty about future Sino-American trade negotiations, the S&P500 index should follow Europe's lead and open up by 0.8%.
The appetite for risk resurfaces when China would be ready for a partial agreement and increase its annual purchases of American soybeans to 30 million tonnes (currently 20 million tonnes).
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Summary statistics will reveal wholesale trade stocks at 4pm and oil stocks at 4:30pm (1.8M consensus).
Jerome Powell will still speak at 5pm, before the Fed minutes at 8pm.
In hourly data, the S&P500 index shows volatility, oscillating within the trading range 2855/2960 points. Only the exit of this zone of indecision will allow us to resume a strong dynamic.
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