This market brief is an overview of the week ahead and some of the events we see as being important to the markets.
Please be aware that our views may change throughout the course of the week, and we do not publish updates of such changes. For up-to-the-minute market analysis see our live trading room.
INDICES
AUSTRALASIA
ASX – 7751 (+85 or +1.11%)
The AU200 chart is trending upward with a significant move, indicating strong momentum and potential bullish sentiment.
VOLATILITY ALERTS:
Thu 11:30 – AUD Unemployment Rate
For a move to the upside, we must now see this market close above 7943. Should this occur, we will look for a move into 7977, and if the upside momentum is strong, we could see a move higher into 8002 and potentially 8078.
If we cannot close above 7932, we could see a move back to test 7908 before a pause to the downside. A break below this level may result in a sharp move lower into 7883, and any further breaks to the downside may see a bigger move into 7831.
EUROPE
DAX (30) – 18800 (+727 or +4.02%)
The Dax chart is trending strongly upward, with a significant move indicating bullish momentum and potential for further gains.
VOLATILITY ALERTS:
Wed 19:00 – EUR Employment Change
Fri 19:00 – EUR CPI
For a move to the upside, we must now see this market close above 19238. Should this occur, we will look for a move into 19442, and if the upside momentum is strong, we could see a move higher into 19646 and potentially 20066.
If we cannot close above 19161, we could see a move back to test 18957 before a pause to the downside. A break below this level may result in a sharp move lower into 18753, and any further breaks to the downside may see a bigger move into 18333.
US
S&P 500 – 5229 (+94 or +1.83%)
The US500 chart is trending strongly upward, indicating a significant move and bullish momentum, potentially leading to further gains.
VOLATILITY ALERTS:
Tue 22:30 – USD PPI
Wed 00:00 – USD Fed Powell Speech
Wed 22:30 – USD Inflation Rate
Wed 22:30 – USD CPI
Thu 22:30 – USD Building Permits
Thu 22:30 – USD Jobless Claims
For a move to the upside, we must now see this market close above 5342. Should this occur, we will look for a move into 5455, and if the upside momentum is strong, we could see a move higher into 5568 and potentially 5835.
If we cannot close above 5216, we could see a move back to test 5103 before a pause to the downside. A break below this level may result in a sharp move lower into 4989, and any further breaks to the downside may see a bigger move into 4713.
FOREX
AUD/USD – 0.6594 (-14 or -0.21%)
The AUDUSD chart is showing a slight downtrend, with a small move indicating weakening sentiment but lacking significant momentum.
VOLATILITY ALERTS:
Thu 11:30 – AUD Unemployment Rate
Tue 22:30 – USD PPI
Wed 00:00 – USD Fed Powell Speech
Wed 22:30 – USD Inflation Rate
Wed 22:30 – USD CPI
Thu 22:30 – USD Building Permits
Thu 22:30 – USD Jobless Claims
For a move to the upside, we must now see this market close above 0.661. Should this occur, we will look for a move into 0.663, and if the upside momentum is strong, we could see a move higher into 0.666 and potentially 0.674.
If we cannot close above 0.657, we could see a move back to test 0.655 before a pause to the downside. A break below this level may result in a sharp move lower into 0.652, and any further breaks to the downside may see a bigger move into 0.646.
EUR/USD – 1.0770 (+10 or +0.09%)
The EURUSD chart is showing a slight uptrend, with a small move indicating strengthening sentiment but lacking significant momentum.
VOLATILITY ALERTS:
Wed 19:00 – EUR Employment Change
Fri 19:00 – EUR CPI
Tue 22:30 – USD PPI
Wed 00:00 – USD Fed Powell Speech
Wed 22:30 – USD Inflation Rate
Wed 22:30 – USD CPI
Thu 22:30 – USD Building Permits
Thu 22:30 – USD Jobless Claims
For a move to the upside, we must now see this market close above 1.0798. Should this occur, we will look for a move into 1.0826, and if the upside momentum is strong, we could see a move higher into 1.0848 and potentially 1.0893.
If we cannot close above 1.0745, we could see a move back to test 1.0717 before a pause to the downside. A break below this level may result in a sharp move lower into 1.0695, and any further breaks to the downside may see a bigger move into 1.0649.
GBP/USD – 1.2526 (-20 or -0.16%)
The GBPUSD chart is showing a slight downtrend, with a small move indicating weakening sentiment but lacking significant momentum.
VOLATILITY ALERTS:
Wed 00:00 – USD Fed Powell Speech
Wed 22:30 – USD Inflation Rate
Wed 22:30 – USD CPI
Thu 22:30 – USD Building Permits
Thu 22:30 – USD Jobless Claims
For a move to the upside, we must now see this market close above 1.2557. Should this occur, we will look for a move into 1.2582, and if the upside momentum is strong, we could see a move higher into 1.2619 and potentially 1.2670.
If we cannot close above 1.2495, we could see a move back to test 1.2470 before a pause to the downside. A break below this level may result in a sharp move lower into 1.2443, and any further breaks to the downside may see a bigger move into 1.2395.
USD/JPY – 155.79 (+219 or +1.43%)
The USDJPY chart is trending strongly upward, indicating a significant move and bullish momentum, potentially leading to further gains.
VOLATILITY ALERTS:
Thu 09:50 – JPY Growth Rate
Wed 00:00 – USD Fed Powell Speech
Wed 22:30 – USD Inflation Rate
Wed 22:30 – USD CPI
Thu 22:30 – USD Building Permits
Thu 22:30 – USD Jobless Claims
For a move to the upside, we must now see this market close above 159.17. Should this occur, we will look for a move into 162.34, and if the upside momentum is strong, we could see a move higher into 165.52 and potentially 172.23.
If we cannot close above 152.41, we could see a move back to test 149.24 before a pause to the downside. A break below this level may result in a sharp move lower into 146.07, and any further breaks to the downside may see a bigger move into 139.36.
COMMODITIES
GOLD – 2354 (+60 or +2.62%)
The GOLD chart is trending strongly upward, indicating a significant move and bullish momentum, potentially leading to further gains.
For a move to the upside, we must now see this market close above 2400. Should this occur, we will look for a move into 2454, and if the upside momentum is strong, we could see a move higher into 2503 and potentially 2633.
If we cannot close above 2307, we could see a move back to test 2254 before a pause to the downside. A break below this level may result in a sharp move lower into 2205, and any further breaks to the downside may see a bigger move into 2075.
CRYPTOS
BITCOIN – 60940 (-3294 or -5.13%)
The Bitcoin chart is showing a significant downtrend, indicating a notable move and bearish sentiment among investors.
For a move to the upside, we must now see this market close above 62410. Should this occur, we will look for a move into 63912, and if the upside momentum is strong, we could see a move higher into 65414 and potentially 76163.
If we cannot close above 59470, we could see a move back to test 57968 before a pause to the downside. A break below this level may result in a sharp move lower into 56466, and any further breaks to the downside may see a bigger move into 50716.
