Goldman Sachs Predicts Fed Rate Cuts in June and September, Significant Implications
- Timeline Adjustment: Goldman Sachs has shifted its forecast for Federal Reserve rate cuts from March 2024 to June and September, reflecting a deep analysis of economic data and inflation management, indicating that markets must adapt to a prolonged high-rate environment.
- Rate Cut Expectations: The bank now anticipates two 25-basis-point cuts, which will impact consumer borrowing costs, potentially keeping mortgage and credit card rates elevated, thereby suppressing consumer spending.
- Market Reactions: Financial markets have begun to adjust, with bond yields rising, reflecting reduced expectations for near-term easing, while equity markets show resilience, indicating investor confidence in economic strength.
- Global Economic Context: The global economic landscape is complex, with European and UK central banks also maintaining cautious stances, which reduces the pressure for premature Fed easing and may lead to coordinated adjustments in global monetary policy throughout 2024.
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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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