 "Commodity outlook and top trading ideas by Tradebulls for today")
Commodity outlook by Bhavik Patel - Sr. Technical Analyst (Commodities), Tradebulls:
Commodities Outlook:
US Dollar index is trading at 2 week low after Fed’s first rate hike in 2018. The disappointment in currency was because the dot-plot suggests only three rate hikes for this year, against the four anticipated. Also, the economic outlook of US for this year was left unchanged. Now for any reversal in US Dollar, the dollar index needs to trade above 91. We expect the dollar index to trade in the range of 88.40-90.50. The overall trend still remains negative.
US Fed
Commodities Outlook:
US Dollar index is trading at 2 week low after Fed’s first rate hike in 2018. The disappointment in currency was because the dot-plot suggests only three rate hikes for this year, against the four anticipated. Also, the economic outlook of US for this year was left unchanged. Now for any reversal in US Dollar, the dollar index needs to trade above 91. We expect the dollar index to trade in the range of 88.40-90.50. The overall trend still remains negative.
US Fed
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