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PROCESS IS KEY….DEFINE LEVELS – MARK EXPECTED PRICE ACTION – TRADE THE SETUPS
OVERNIGHT MARKET SNAPSHOT FOR TUESDAY 13/06/23
European and US Indexes moved higher being supported by Tech stocks ahead of FOMC and the US Feds statement on inflation and interest rates. US CPI is out tonight which will be telling and could bring in some volatility into markets. A stronger than expected print on CPI will see a risk off move into tech and the overall market as traders potentially rush to lock in recent gains.
Expecting a mixed open to Asian markets with the Nikkei set to open up 280 points, the ASX200 to open flat and Hang Seng to open slightly lower.
Data out showed the US continuing to build on its budget deficit which increases concerns over a US economic slowdown, and how the US is going to fund its debt with GDP easing. I feel that Governments need to step up to help Fed Reserves cool inflation faster although this does not seem to be a priority so I am expecting more rate rises which translates to more stock market uncertainty.
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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KEY LEVELS AND MARKET OVERVIEW INTO THE ASIAN SESSION OPEN
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