With Fed adding to market uncertainty, Connor Campbell of Spreadex, sees the US GDP ahead being the key risk for the Wall Street and Gold.
Markets lack direction
The Fed opting to keep rates unchanged in last week’s FOMC meeting has made the markets sceptical. He believes that markets are going to struggle to find direction until the October Fed meeting. He notes how the Fed fuelled uncertainty has led to most of their clients remaining on the sell side.
Dow Jones: US GDP key risk
Campbell believes that that US GDP data release ahead might be negative for the Wall Street. The Dow Jones index has seen selling pressure above 16,500.
Gold: Strong US GDP might fool the bulls
Campbell notes that the precious metal has seen buying around the $1130 despite the US GDP release ahead, a strong number could fuel strength in the dollar which would be negative for the yellow metal.
Technical outlook for single stocks:
Thomas Cook Group, Nike Inc (NYSE:NKE), SAB Miller