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June 29, 2023
While iShares MSCI USA Value Factor ETF is on a 4 day uptrend Yesterday's session put the brakes on the ongoing uptrend — a tough session dominated by bearish sentiment left VLUE 6 cents lower, while setting a $91.95 to $92.75 session range.
United States GDP is next.
IShares MSCI USA Value Factor ETF's state is reflected by market data as United States Crude Oil Inventories fell short of the -1.76 million projections, with new data of -9.60 million. United States 7-Year Note Auction released yesterday at 17:00 UTC with a figure of 3.839, while the previous figure was 3.827. United States Cushing Crude Oil Inventories came out at 1.21 million, while a consensus of analysts was expecting 89,000.
Visual analysis of iShares MSCI USA Value Factor ETF's chart shows that iShares MSCI USA Value Factor ETF is approaching key support, around $1.05 away from $91.68. Dipping below could indicate further losses are ahead while a failure to break below this level is likely to be seen positively by market bulls.
While iShares MSCI USA Value Factor ETF was pretty flat yesterday, mixed performances were seen elsewhere as Toyota surges 1.86% yesterday and closed at $157.18. Netflix is trading around $429.84 after ending yesterday's session at $417.08 (up 3.06% today).
Data to be released today might clear up some of the market fog as as things stand, upcoming United States GDP data is projected to fall short of market expectations with newly published data of 1.4, following on from the preceding figure of 2.6. New data is set to be published today at 12:30 UTC. Projections for United States Initial Jobless Claims are set for a continuation of decline with 266,000 while previous data was 264,000; data will be released today at 12:30 UTC. United States Core PCE Price Index (MoM) (May) will be released tomorrow at 12:30 UTC.
IShares MSCI USA Value Factor ETF has fallen back around 6.78% over the past 4 months, from a notable high of $99.54.
