Key Levels and US Market Review for the Asian session open 10/03

2023年3月9日

A review of the price action from the European session and the US session. Major indexes again took a big hit lower in a risk off move ahead of the Key US data release on employment. Investors feel it is hard to take up the slack of higher prices when labour market is at capacity and the consumer becomes more reluctant to spend. Inflation and rate rise expectations kept the major indexes under pressure. The USD edged lower while US short term bond prices moved higher.

I remain of the view that sticky inflation is the big issue and will weigh on share markets if the Fed, and other major central banks, can not get it under control....this all points to more 'risk off' into major share markets.

I look at some key levels to watch and the price action 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