US 30 forecast: the uptrend continues, but resistance has not yet been broken
After reaching a new all-time high, the trend in the US 30 index remains unstable. The US 30 forecast for today is positive.
US 30 forecast: key trading points
Recent data: the US PMI for August came in at 55.5
Market impact: for US equities, this result signals a cautious investor sentiment
Fundamental analysis
The US unemployment rate stood at 4.3% in line with market forecasts but above 4.2% in July. From a macroeconomic perspective, this indicates a gradual cooling of the labour market: a moderate rise in unemployment eases wage pressure and reduces service-sector inflation. In terms of financial conditions, this is generally favourable, as expectations of a softer monetary policy path increase, Treasury yields tend to decline, and funding costs for companies decrease. At the same time, the fact that unemployment is rising points to a slower pace of economic growth.
For the US 30, the signal is mixed. If markets interpret the figure as evidence of a soft landing, we may see a short-term improvement in risk appetite driven by lower yields and stronger expectations of Fed easing. However, if focus shifts to risks for growth momentum, the index could show a more restrained performance given its heavy weighting in cyclical sectors.
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Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.
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The RoboForex Team