PROCESS IS KEY….DEFINE LEVELS – MARK EXPECTED PRICE ACTION – TRADE THE SETUPS
OVERNIGHT MARKET SNAPSHOT FOR WEDNESDAY 15/03/23
European markets moved higher once US CPI was released to end with gains and reverse some of the previous sessions move down. The US was under pressure for a large part of the session after the open only ending in green thanks a late rally into the close. US Data out showed inflation remains a problem and it is too early to think the Fed will pause rate rises. US Bond yields edged higher and the USD held lows while Gold was range bound.
Asian markets will open stronger but I do not expect to see a big ‘risk on’ day.
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 like the RBA, ECB and BOE, can not get it under control.
Some KEY ACTIONABLE LEVELS into the Asian market session. Review of the European and US sessions and what that will mean to the price action in the near term along with key levels to watch.
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