Weekly Market Commentary | 27.11 – 3.12

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:

• Quiet start with no major tier one data.
• ECB President Lagarde’s speech scheduled during the European session.
• New home sales data from the US to be released.

Tuesday:

• Australian retail sales figures expected, with a forecasted 0.1% rise.
• Speech by Reserve Bank of Australia Governor Bullock.
• The day concludes with the US CB Consumer Confidence data, anticipated to be around 101.

Wednesday:

• Australian inflation data, projected to decrease to 5.2%.
• New Zealand’s interest rate decision, likely to hold steady at 5.5%.
• Inflation reports from Germany and Spain.
• Prelim GDP from the US, expected at 5%.
• Speech by Bank of England Governor Bailey.

Thursday:

• Manufacturing PMI from China, forecasted at 49.6.
• Beginning of OPEC meetings.
• Canadian GDP data, with an expected 0.1% increase.
• Core PCE Price Index from the US, projected at 0.2%.
• US unemployment claims, estimated to be around 219,000.

Friday:

• Employment data from Canada, with the unemployment rate predicted to stay at 5.7%.
• ISM Manufacturing PMIs from the US, anticipated at 47.7.
• Speech by Fed Chairman Jerome Powell.
• Note: This Friday does not include non-farm payrolls, which are scheduled for the following week.

Setups for This Week:

NASDAQ:

Primary View:

• • Bullish sentiment despite a correction attempt at the start of the week.
  • Testing key horizontal support at 15,900 points (green line).
  • A potential false bullish breakout (yellow color) could signal a sell if the support is broken.

Alternative View:

• • A bounce from the green support area would reinforce the bullish trend and create a buy signal.

AUDUSD:

Primary View:

• • Buy signal activated following the breakout above the orange resistance.
  • Target set at the black downtrend line.

Alternative View:

• • A reversal below the orange support line would shift the sentiment to bearish, signaling a sell.

Silver:

Primary View:

• • Bullish scenario with a buy signal activated after breaking the black mid-term downtrend line.

Alternative View:

• • A reversal below the black uptrend line would change the market sentiment to bearish, presenting a sell signal.