NDXUSD

The Nasdaq 100 index, which is highly sensitive to interest rates, continues its rise with expectations that a significant slowdown in the US economy will bring the Fed's interest rate cuts closer. The index is trading well above the pivot level of 22,395.63, close to record levels. The positive atmosphere brought by the ceasefire is also increasing demand for technology stocks. Markets hope that tomorrow's PCE data will confirm these loose monetary policy expectations. An inflation data that comes within expectations could push the index towards the resistance of 22,770.63, while a possible surprise could trigger profit-taking.