SHORT (SELL)
TP
Recommended Entry Range
(+$1.01 futures contract - Sep'26; near 87.88 - 88.10)
โบ We are seeing yesterdayโs cautious mood continue today with a broadly similar start - although today the chip sector is also weak, and particularly weak in some names. AMD is at TP / opening clearly below TP. September is often a month in which investors make only smaller bets. Historically, it is one of the weaker months, while portfolios are also being repositioned for year-end performance.
โบ Higher oil prices and the related inflation concerns, together with further increased expectations that the Fed will raise rates by 25 basis points, are keeping demand for the USD elevated and adding further pressure to risk sentiment.
โบ Investors are also looking ahead to several key events, including todayโs ISM PMI data and JOLTS job openings data. Tomorrow, the BoC is expected to keep rates unchanged. On Friday, the NFPs will be firmly in focus - but robust data would help pave the way for rate hikes. Strong NFP data would increase the probability of a rate hike even further and could therefore trigger a negative market reaction.
โบ The still very low officially reported shipping traffic through the Strait of Hormuz, together with concerns about further military strikes in the region or attacks on vessels, is keeping oil prices elevated for now. However, we expect some cooling from todayโs gains.
WTI (USOIL) ๐ข: Multiply your โstandard (EUR/USD)โ position size by approx. 2.5โ3.5x (250%โ350%) โ if contract size 10; 3/5 position size
WTI (USOIL) ๐ข: Multiply your โstandard (EUR/USD)โ position size by approx. 0.25โ0.3.5x (25%โ35%) โ if contract size 100; 3/5 position size
(Contract size: right-click the asset in MT4/5 -> โSpecificationโ)
position code / 100% Transparency - 26090101A
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