US Government Shutdown Persists with No Resolution in Sight
US Government Shutdown Impact: The ongoing US federal government shutdown has entered its second week, causing delays in key economic data releases, including the crucial payrolls report, yet markets remain relatively stable with stocks at record highs.
UK Economic Concerns: The UK economy shows signs of sluggish growth with September PMIs indicating a near stagnation, while inflation remains around 4%, raising concerns about potential tax hikes and pressure on the pound.
Eurozone Stability: Eurozone inflation remains steady at 2.2%, allowing the European Central Bank to maintain current interest rates, while political instability in France has led to increased risk premiums on French assets.
US Economic Data Reliance: The government shutdown has limited access to critical US economic data, leading to reliance on less conclusive private sector reports, with the ADP job creation measure indicating modest job losses despite a strong growth forecast from the Atlanta Fed.
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Technical Analysis for
Technical Sentiment Analysis for () As of , () is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 0 technical signals, shows that 0 indicators are flashing buy, while 0 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
() Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | - | - | - | - | - | - | - |
| Fibonacci | - | - | - | - | - | - | - |
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