- The key NFP data released on August 2nd showed that throughout July, the US economy had added 162k jobs, following a 188k added in June. The reading was less than expected as economists initially saw a 185k gains in payrolls. Meanwhile, the unemployment rate fell from 7.6% to 7.4% during the same period. The mixed data is seen neutral which would neither boost nor reduce the odds of the Fed to start reducing its stimulus in September.
- Struggling just before a week-long holiday, the JCI outlook is looking ominous as sentiment on US stocks took a bump as September nears. While better-than-expected data deserves cheers, such readings instill concerns over the timing of the Fed's reduction of stimulus as soon as FOMC's next meeting in September. In addition, technically speaking, the weekly chart outlook of the DJIA hinted on a potential U-turn the coming week. Weak finish before the holiday and poor Dow urge caution for next Monday session.
- For detailed technical outlook, please refer to the other pdf file linked to this post.
Click here to download the technical update (PDF)
Tidak ada komentar:
Posting Komentar