Weekly Market Commentary | 06.03 – 12.03

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

Source: https://www.axiory.com/analytics/weekly-market-commentary/weekly-market-commentary-06-03-12-03