Key Levels and US Market Review for the Asian session open 4/04

2023년 4월 3일

Major Indexes were mixed to start the new week in Europe and the US. The DAX was down while the UK100 was higher while over in the US the DOW was buoyed by a strong energy sector and the Nasdaq ended lower. We may see the markets drift in the coming sessions as they await the key US employment release and further direction for inflation and interest rates. The USD rallied from the start of the Asian session only to take a hit from the European open and give back all the gains plus more which triggered buying into gold. US bond yields eased as Manufacturing data came in slightly weaker than expected.

The local Aussie market will be eagerly awaiting the RBA statement today at 2:30pm Syd time. RBA is expected to leave rates on hold.

Asian markets are expected t open flat after a relatively range bound overnight session.

I remain of the view that sticky inflation is the big issue but it remains a balancing act for the Fed as they potentially come to the end of a rate rise cycle. With the OPEC Production cuts and resultant spike in Oil, bulls will have something to think about regarding inflation.

Some KEY ACTIONABLE LEVELS into the Asian market session. Review of the European and US sessions and what that will mean to the price action in the near term along with key levels to watch. Setups I expect to see play out on the major markets below :-

Markets covered :-
DOW
Nasdaq
DAX
FTSE
ASX200
Hang Seng
USD Index
Gold
Oil
Copper