Curious to know what’s happening on the markets this week? Take a quick tour of the latest news, economic updates, and trading setups that will keep you up-to-date and in the know.
Monday>
- Monday brought the inflation reading from Switzerland that rose up and exceeded expectations at 0.7% vs 0.5% exp
- At the beginning of the American session, we will learn the Ivey PMI from Canada expected to drop to 55.9
Tuesday>
- Tuesday is supposed to bring the rate increase in Australia from 3.35% to 3.6%
- What’s more, we will get a speech by FED’s Jerome Powell and Philip Lowe from RBA
Wednesday>
- On Wednesday, we shall witness the warm-up before the NFP, a traditional ADP Non-Farm Employment Change
- Another decision by the central bank will be brought up, this time from Canada, with no change of the rate expected
- Wednesday will also be the second day of Powell testifying before the House Financial Services Committee
- JOTLS Job Openings in US should also be influential for the traders
Thursday>
- The calendar will only be busy for the Asian traders, as the most important data of the day will be the GDP from Japan and inflation number from China
Friday>
- Friday will be certainly the busiest day this week
- We will start with the Press Conference and Monetary Policy Statement from Japan
- In the European session, the most important data will be the GDP from the UK, expected to rise by 0.1%
- The day will finish with a blast from the Canadian and American Job Market - the traditional NFP! The number we are expecting this month is significantly lower than a month ago - 206K vs 517K in January.
Setups for This Week:
DAX
Primary View:
The index bounced off the up-trendline and horizontal support on the 15250
The price created a hammer candle formation on the daily chart
On Friday, the price rose significantly breaking the mid-term down trendline, sentiment is positive
Alternative View:
If the price comes back below the 15250 support, we can expect a sell signal, but chances of that are limited
EURAUD
Primary View:
The EURAUD feels more comfortable above the 1.568 support
As long as we stay above the yellow area, the sentiment remains positive
Alternative View:
The price dropping below the 1.568 would be a proper signal to sell
WTI Oil
Primary View:
WTI Oil had a tremendous bullish session on Friday
The price managed to escape from the symmetric triangle pattern triggering the buy signal
The target is on the 82 USD/bbl.
Alternative View:
Oil dropping back inside of the triangle would be a proper signal to sell
