Expectations of a Slight Inflation Increase Prevail in the Markets

The White House intends to provide details of its plans to restrict some American investments in sensitive technology in China. It will also require notifying the government of other investments. The plan aims to prevent US capital, technology, and expertise from assisting in the development of technologies that could support China’s military modernization and threaten US national security.

European stocks also reached their highest levels in a week on Wednesday, supported by energy company stocks. Italian lender stocks rebounded from sharp losses in the previous session as the government softened its stance on an unexpected tax on banks’ gains.

Dollar Index (USDX)

The dollar stabilized near the average price range it reached this week, as investors await the release of key inflation data in the United States later today, Thursday. This data could potentially impact the monetary policy trajectory of the Federal Reserve.

The dollar is currently trading above its pivot point at 102.35 dollars.

Pivot point: 102.25

Resistance level	Support level
102.45	102.15
102.55	101.95
102.75	101.80

Spot Gold (XAUUSD)

Gold prices edged lower, nearing their lowest levels in a month today, as investors await inflation data in the United States that could determine the path the Federal Reserve will take regarding interest rates in the upcoming period.

Gold rose 0.2 percent in spot trading to $1918 per ounce, but it is trading near its lowest level since July 10, which was recorded on Wednesday.

Pivot point: 1919

Resistance level	Support level
1926	1907
1938	1901
1944	1889

Dow Jones Index (DJ30ft – US30)

US stocks closed lower on Wednesday after a report indicated that Americans borrowed more on credit cards than ever before in the past quarter. This was on the eve of inflation data that could impact the decisions of the US Federal Reserve regarding interest rates. It is expected that the Consumer Price Index for July will slightly rise on a yearly basis on Thursday and increase by 0.2% on a monthly basis, similar to June.

The S&P 500 index dropped by 31.47 points, or 0.70%, to 4467.91 points. The Nasdaq index lost 162.31 points, or 1.17%, ending at 13,723.96 points. The Dow Jones Industrial Average declined by 186.92 points, or 0.53%, to 35,127.57 points.

Pivot point: 35295

Resistance level	Support level
35460	35100
35650	34935
35825	34740

US Crude (USOUSD)

Oil prices reached new levels on Wednesday, with Brent crude reaching its highest price since January. A significant decrease in US fuel inventories and production cuts by Saudi Arabia and Russia have counteracted concerns about slowing demand from China.

Brent crude rose by 1.6% to $87.55 per barrel at the close. West Texas Intermediate (WTI) crude, the US benchmark, increased by $1.48 or 1.8% to $84.40 per barrel.

Pivot point: 83.85

Resistance level	Support level
84.95	83.00
85.75	81.85
86.95	81.05

Risk Statement:

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