U.S. stock index futures fell on Friday, tracking global shares, as the Turkish lira tumbled on concerns over the country’s economy and its deepening rift with the United States. The Turkish lira fell 20% after the US President Donald Trump authorized the doubling of metals tariffs on Turkey. According to economists, problems in emerging markets will eventually affect the US markets also. It seems to be every day a new country is added to the enemy list of the US like US  escalating trade war to new heights. Dow Jones30 is currently trading at 25329 and is down by 0.69% from the previous closing price. The index has been losing momentum continuously since Wednesday. Caterpillar and 3M, were among the top losers, down by 2.87% and 1.49% at the time of writing.

The US Labor Department said on Friday that the Consumer Price Index advanced 0.2%, the bulk of which was due to a rise in the cost of shelter. The CPI rose 0.1% in June. In the 12 months through July, the CPI increased 2.9%. Economists had forecast both the CPI and core CPI rising 0.2% in July. The CPI and core CPI are the mostly watched economic indicators to gauge inflation by the Federal Reserve

On the technical front, the RSI is currently at 51.22% and suggests that the market can move in the downward direction. The %K has crossed the % D from above to the downside at 87.20%, and this suggests that the market may head downwards. The price is below the middle line of the Bollinger bands and is going downwards. So, overall the market setup seems to be mixed to negative.

Trade Suggestion-Sell At: 25350, Take Profit At: 25280 Stop Loss At: 25390

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