Macro

Macro Update For Week 19/9/2022-23/9/2022: Volatility In View With CB Policy DecisionSep 19, 2022

The major U.S indices were trading lower with S&P500 dropping at -4.77%, DOW30 at -3.78%, and NASDAQ Composite at -5.77% weekly. In Europe similarly, the German ZEW Economic Sentiment, and the EU ZEW Economic Sentiment, fell below the analyst’s forecast and the previous reading in August reached -61.9 and -60.7 from -55.3 and -54.9 respectively. DAX40 dropped only -2.65% weekly, although the facts with the issues in the flow of natural gas and the weakened euro are showing an increasing possibility for a recession in Europe than in the USA.

The Economic Calendar of the week (19/9 – 23/9) has very interesting readings, including RBA rate decisions, when they may not be that hawkish anymore, so Aussie may have issues recovering especially with lower stocks. Then we have hike in interest rates from the FED on Wednesday meetings, such as the U.S Housing Market Index for September, the Japan Core CPI for September, the German PPI for September, the  U.S Building Permits for September, the ECB President Lagarde speaking, the U.S API Crude Oil Stock (weekly), the U.S Home Sales for September, the BOJ Interest Rate Decision, the BOE Interest Rates Decision, and the Manufacturing PMI in Eurozone, Germany, Great Britain, and the USA.  

From a technical perspective, we think that USD remains king as SP500 breaks the trendline support. The US yields also scream for that 3.5% breakout which can cause more fear across different markets, including cryptos.

If you want to be on track with metals, currencies, SP500, DAX and other markets, then make sure to check our services.

SP500 elliott wave

Check what we have to say about GOLD and COT data CLICK HERE

DISCLAIMER

Any reviews, news, analysis, prices or other information contained on our website is provided as general market commentary and delivered electronically through a distribution channel to larger number of clients, therefore does not constitute investment advice or investment research. We are not trading advisors. Most of our work is for educational purposes only, with information based on Elliott Wave theory in real time. Trading forex, futures, options, stocks, cryptocurrenices or any another trading market carries a high level of risk, and may not be suitable for all investors.

The possibility exists that you could lose some or all of your initial investment; therefore you should not invest money that you cannot afford to lose. Our website and the information that we provide should not be relied upon as a substitute for extensive independent research before making your investment decisions. In no event will we be liable for any loss or damage on your account in connection with, the use of our products. For any real cash investments you have to contact your financial advisor.

Any information or material contained on our website is owned by Val Global d.o.o.. Reproduction is prohibited without Val Global d.o.o. prior license in writing.