Let's take a closer look at Australia's recent economic performance. Brace yourselves for some interesting developments. The country's economy experienced its slowest growth since late 2021 in the first quarter, raising doubts about the Reserve Bank of Australia's rapid interest rate increases. Despite the bank's record-breaking 12 rate hikes in the last 13 months, the resource-rich economy only grew by a modest 0.2% in the quarter, falling short of economists' expectations.
Equity Markets Outlook
2023-03-08 • Updated
The stock markets are usually considered indicators of the strength or weakness of a country's economy. Therefore, many traders review indices as a leading indicator of what to expect from large economies around the globe. Let's look at a few of these without further ado.
The US30 is trading inside a wedge pattern on the daily timeframe. The price has recently bounced off the demand zone that overlapped the 200-period moving average. From the positioning of the moving averages, the sentiment is bullish. The primary target area would be the supply zone at the resistance trendline of the wedge.
Target: 33 996
Invalidation: 32 541
The trend on US500 is currently contracting and has thus created a wedge pattern. We have seen that the 50 and 100-period moving averages are currently above the 200-period MA, implying a bullish sentiment. Working with this sentiment in mind means that the initial price target would be somewhere around the supply zone, just below the trendline resistance of the wedge pattern.
HK50 has reacted quite powerfully to the supply zone, as we can observe from how far the price dropped from the zone. However, I expect we will see some bullish reaction from the current area based on the crossing of the 50-Day moving average above the 100 and 200 moving averages. Additional confluences include: · the 88% of the Fibonacci retracement· 200-moving average as a support · the break above the previous high at 20100.
Target: 22 000
Invalidation: 19 500
The trading of CFDs comes at a risk. Thus, to succeed, you have to manage risks properly. To avoid costly mistakes while you look to trade these opportunities, be sure to do your due diligence and manage your risk appropriately.
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Let's dive into the latest developments shaping the global economic landscape. Good news first: the threat of an unprecedented US debt crisis has receded, as US lawmakers passed a bill to raise the debt ceiling and avoid a catastrophic default. Phew! But don't pop the champagne just yet, because storm clouds are still looming. High inflation, rising interest rates, and sluggish growth are challenges that have yet to disappear.
Hey guys, this is the last full trading week in May, and many forward-looking individuals like myself are already preparing themselves to seize whatever opportunities June may have in store. On this note, I will review a few commodities that have satisfied my quest for swing-trading opportunities in the coming month. Follow me!
Are you aware of the recent crackdown by the SEC on major cryptocurrency exchanges, Binance US and Coinbase? Surprisingly, savvy Bitcoin traders seem unfazed, as options-based implied volatility metrics indicate. It appears that the lawsuits were anticipated and already factored into the market. Implied volatility reflects investors' expectations of price turbulence, but little evidence of heightened concern exists.
Let's dive into the recent debt ceiling saga in the US and its implications for the economy, deficit, and inflation. The good news is that a new debt deal is on the horizon, saving us from a potential default on June 5. Phew! This deal will impact the economy by providing stability and avoiding a financial catastrophe.
Get ready for some suspense as the Bank of Canada faces a tough decision on whether to raise interest rates or keep them on hold. The resilient Canadian economy and the goal of curbing inflation further are at the heart of this dilemma. While some money markets and economists predict another rate hike, others believe the central bank should exercise caution and wait, hinting at a possible increase later in the summer.