Destaques da Semana:

• EUA: Foco no PCE O índice de preços de gastos com consumo (PCE), a métrica de inflação preferida pelo Federal Reserve (Fed), será divulgado na quinta-feira (29). Este dado é fundamental para as decisões do Fed na próxima reunião sobre taxas de juros.
• Brasil: IPCA-15 e PIB em Pauta Na terça-feira (27), o IPCA-15 trará uma prévia da inflação oficial. Já na quarta-feira (28), sai o PIB do quarto trimestre de 2023, indicador importante do desempenho econômico brasileiro.
• Americanas no Vermelho: A divulgação do prejuízo líquido de R$ 4,611 bilhões nos nove primeiros meses de 2023 impactou as ações da Americanas (AMER3).
• Resultados Corporativos dos EUA: Importantes empresas americanas divulgam seus balanços, incluindo Salesforce (quarta-feira), Apple e Amazon (quinta-feira).

Panorama Global

• Bolsas Asiáticas Misturadas: As bolsas na Ásia fecharam sem uma tendência única. O Nikkei (Japão) subiu, enquanto o Xangai Composto (China) encerrou em baixa.
• Europa em Queda: Os mercados europeus operam em baixa acompanhando o clima de cautela global.
• Petróleo e Minério de Ferro Recuam: Os preços dessas importantes commodities caem refletindo preocupações com a inflação e com a demanda global.

Fique de olho! Acompanhe atualizações sobre esses e outros indicadores ao longo da semana para compreender melhor a movimentação dos mercados.

Na esfera doméstica, os investidores aguardam o índice IBC-Br do Banco Central para dezembro – tido como uma prévia do PIB– com previsão de crescimento de 0,4%. Já no âmbito corporativo, as empresas Americanas e Carrefour divulgam seus resultados após o encerramento dos mercados.

Os mercados europeus, por sua vez, iniciaram a semana em baixa, revertendo a tendência positiva da semana anterior. O petróleo sofre queda nos preços, influenciado por comentários do Federal Reserve (Fed) indicando uma postura mais gradual em relação a potenciais cortes nas taxas de juros. Outra commodity importante, o minério de ferro, também apresenta recuo na China devido ao aumento nos estoques e fracas margens do aço.

Destaques do Dia

• EUA em compasso de espera: A pausa para o feriado do Dia do Presidente mantém as bolsas de Nova York fechadas hoje. No entanto, há uma busca geral de recuperação após a interrupção da sequência de altas recente.
• Otimismo Chinês: Os investidores chineses demonstram forte confiança na retomada econômica, respaldados por números positivos no turismo durante o Ano Novo Lunar. O Banco Central Chinês (PBoC) manteve sua taxa básica de juros inalterada, mas há expectativa de cortes ainda hoje.
• Brasil na expectativa: O foco está no IBC-Br de dezembro e nos resultados da Americanas e Carrefour. Estes indicadores podem dar pistas sobre o desempenho da economia brasileira e do setor de varejo.
• Europa recua, Petróleo cai: A Europa parece corrigir uma semana positiva, enquanto os comentários do Fed sobre taxas de juros afetam diretamente as cotações do petróleo.
• Minério de Ferro recua: A commodity vital para a indústria do aço sofre pressão na China diante de fatores como aumento de estoques e margens reduzidas.

Fique atento para maiores atualizações dos mercados ao longo do dia!

This past week in the financial markets was marked by several crucial economic releases. The US ISM Manufacturing PMI showed a marginal improvement to 47.4, suggesting a slowing contraction in the manufacturing sector. JOLTS Job Openings slightly decreased to 8.79 million, indicating a stable yet evolving job market.

The release of the FOMC Meeting Minutes provided valuable insights into the Federal Reserve’s perspective on the economy, a crucial factor for traders and investors alike.

Germany and US Labor Market Performance

Germany’s Prelim CPI data revealed controlled inflation, a positive sign for Europe’s largest economy. In contrast, the US labor market continued to exhibit strength. The ADP Non-Farm Employment Change outperformed expectations with 164K jobs added, and Unemployment Claims were healthier than anticipated at 202K.

The standout of the week was undoubtedly the robust US jobs report. The economy added an impressive 216K jobs, with the Unemployment Rate holding steady at 3.7%. Moreover, Average Hourly Earnings increased by 0.4%, suggesting strong wage growth and economic resilience.

Chart Analysis: Currency and Commodity Movements

In the currency and commodity markets, the US Dollar showed strength against most assets, excluding Crude Oil. This trend might see a reversal in the coming week, potentially leading to a softer dollar. Such a shift could positively impact Gold, EURUSD, and global indices. Cryptocurrency markets, currently in a consolidation phase, are testing upper resistance levels, hinting at possible upcoming movements.

Bitcoin continues its sideways move just below resistance levels.

Here the TECH100 is enjoying a much-needed break after a very long sustained bull leg.

US Oil shows early signs of a change in trend, traders will be watching for potential new highs.

Gold continues to creep higher slowly.

EURUSD could find support this coming week.

The Week Ahead

As we look to the upcoming week, several key economic indicators will be under the spotlight. BOE Governor Bailey’s upcoming speech is eagerly awaited for insights into the UK’s monetary policy direction. The US inflation data, including the Core CPI and CPI, will be pivotal in assessing inflationary pressures in the world’s largest economy. Additionally, the UK’s GDP and the US Core PPI and PPI data will provide further insights into both countries’ economic health.

This week’s market dynamics underscore the importance of staying informed and adaptable. With significant data releases on the horizon, the markets are poised for another week filled with opportunities and insights.

Keep Calm and Carry On Trading! For more in-depth analysis and updates on the financial markets, stay connected with FXGlobe.com.

En el artículo de hoy, vamos a analizar el cierre del año 2023 para diferentes activos que tenemos en cartera y los escenarios que tenemos para ellos. Nos centraremos en ver métricas que puedan afectar al desempeño a medio plazo de estos mercados y un curioso dato de la acción con mejor desempeño del año. Nvidia.

De momento, empezamos viendo el gráfico del precio de la acción. Ahora viene haciendo un ligero retroceso, y estamos llegando a zonas de soportes que nos marcan el retroceso 38 de Fibonacci y la media simple de 200 sesiones. Quizás podamos ver rebotes en continuación tendencial en estos entornos.

Pero os vamos a compartir una métrica no tan positiva para este tramo final. Y es que está empresa está llegando a una estacionalidad que no le favorece mucho. Vemos en la imagen de abajo que el mes de diciembre es el peor mes de largo. Veremos este año como evoluciona.

Vamos a ver qué pasa con los agregados, es decir, con los índices. De primeras vemos que hay un activo que está poniendo en precio la posible recesión de 2024 y otro que no.

Observamos que el gap que se está creando entre la renta variable y el petróleo es enorme. Obviamente en una situación recesiva, baja la demanda del crudo y por tanto suele bajar su precio. Pero en los mercados de acciones estamos casi en máximos históricos. Es cierto que estamos en una estacionalidad muy favorable, veremos si el 2024 es un año duro o no para estos mercados.

Si pensamos en los indicadores macroeconómicos podemos pensar que es muy probable ver una recesión, o por lo menos una desaceleración. Vemos como los grandes fondos de inversión están aumentando sus niveles de liquidez a niveles que no veíamos hace años.

Pero también es cierto, que estamos ante un año un tanto excepcional, ya que es año de elecciones en Estados Unidos. Fijémonos cómo en estos años, el S&P 500 nunca ha caído durante un año de reelección presidencial y, a pesar de la volatilidad de mercado a corto plazo que es común con la temporada electoral, el desempeño de las acciones es en gran medida independiente de qué partido toma el control de la Casa Blanca

Por lo tanto tenemos factores favorables y desfavorables para el año que viene. Lo ideal será seguirlo día a día, ya que al final, es el precio el que manda y el que nos marcará el camino.

El que está dejando menos dudas, y además tiene unos fundamentales que parecen excelentes por delante es el Bitcoin. Seguimos con las fuertes subida provocadas por la fiebre de los ETFs al contado. Además hay rumores sobre como países como Colombia también lo podrían adoptar, o como el fondo Soberano de Riqueza de Qatar ha ingresado al mercado de Bitcoin y podría estar interesado en comprar hasta $500 mil millones en BTC.

Esto representaría más de la mitad de la capitalización actual de la criptomoneda. De momento esto son solo rumores, pero lo que está claro es que la adopción global continúa creciendo.

Además, observamos como una gran parte de los inversores, los holders, no sueltan el activo ni con las tremendas subidas que estamos teniendo en este 2023. Si nos fijamos en el gráfico que os comparto abajo, comprobamos cómo aunque el precio ha subido casi un 150% en lo que va de año, la cantidad de bitcoin en circulación que no se ha movido en 1 año o más, alcanzó un nuevo máximo histórico durante el fin de semana del 70,5%.

En resumen, este si parece un activo que nos está mostrando cualidades positivas para seguir acumulando. La estrategia de TradingPRO es hacer DCA (Dollar cost averaging), que es básicamente el ir acumulando todos los meses mientras vamos adquiriendo a diferentes precios, promediando la tendencia alcista a largo plazo.

En resumen, se viene un final de año, donde parece que la tendencia predominante puede continuar, pero se avecina un 2024, donde lo que hoy es fiesta,s e puede convertir en un funeral. Lo estaremos siguiendo, como siempre, en la comunidad de FXGlobe.

This past week in the financial markets was marked by several important economic releases. The ISM Services PMI in the US painted a picture of resilience in the service sector, surpassing expectations with a reading of 52.7. However, a slight drop in JOLTS Job Openings to 8.73 million hinted at a cooling job market.

Mid-week, the focus shifted to the UK with BOE Governor Bailey’s speech amidst ongoing economic challenges. The US also reported a moderate increase in employment through the ADP Non-Farm Employment Change, adding 103K jobs, which was below the anticipated figure.

The week concluded with the US Unemployment Claims, which held steady, reinforcing the stability of the job market. These figures are crucial as they provide insights into the overall health of the economy.

Current Market Analysis

As we review the charts, the strength of the dollar stands out, particularly its impact on commodities and indices. Gold experienced a significant sell-off, dropping from the 2,150 level. This movement reflects the market’s sensitivity to shifts in the dollar’s strength. The indices, though showing a slight decline, indicate a market that is cautiously waiting for further cues.

Bitcoin, along with other charts had a minor stall after a long rally- could this stall be preceding a larger correction?

Here the Dow is sitting at major highs (resistance) after a long rally. Often, price will take a small breather down to the nearest support level- we will have to see if this is how it plays out here.

US Oil has begun a retracement after a good run down recently. Over the coming days it could continue this temporary rally within the downtrend until it finds resistance.

Gold had its snout booped at the historic high level- the question is, will it recover from this and have another run over the next week?

Gold had its snout booped at the historic high level- the question is, will it recover from this and have another run over the next week?

Looking Ahead

The upcoming week promises to be eventful. Starting with the UK’s Claimant Count Change and the US Core CPI, these figures will be pivotal in shaping market sentiment.

The Federal Reserve’s decision on the Federal Funds Rate, along with the FOMC Economic Projections and Statement, are highly anticipated and could lead to substantial volatility, especially in the USD markets.

In the Eurozone

The ECB’s Main Refinancing Rate and subsequent press conference will be closely watched, offering insights into the monetary policy direction amidst varied economic challenges. Retail Sales and Unemployment Claims in the US will provide further clarity on the consumer and labor market.

As we approach the week’s end, the manufacturing and services PMI figures from France, Germany, and the UK will offer a snapshot of economic activity in these key European economies. These indicators are essential in understanding the broader economic picture in a post-pandemic world.

So, this week has shown us the resilience and volatility that define our current economic landscape. As traders, it’s crucial to stay informed and adapt to these changing dynamics. Remember, trading is about understanding not just the numbers, but the stories they tell.

Keep Calm and Carry On Trading! For more in-depth analysis and trading insights, visit FXGlobe.com.

This week in the financial markets was a roller coaster of events, affecting currencies, commodities, and indices worldwide. Let’s dive into the key happenings and their implications for traders.

Key Economic Events

Earlier This Week:

• Monday: The week started with a speech from BOE Governor Bailey, setting the tone for the GBP.
• Tuesday: The release of the FOMC Meeting Minutes offered insights into the US Federal Reserve’s stance, impacting USD movements.
• Wednesday: In the US, unemployment claims came in lower than expected at 209K, boosting sentiment towards the labor market. However, the Revised UoM Consumer Sentiment was slightly adjusted upwards, indicating a cautiously optimistic consumer outlook.
• Thursday: Europe showed mixed signals with its Flash Manufacturing and Services PMIs, suggesting ongoing challenges in the Eurozone economy. The UK’s Manufacturing PMI outperformed forecasts, providing a glimmer of hope for the British economy.
• Friday: The US’s Flash Manufacturing PMI slightly underperformed, while Services PMI beat expectations, painting a complex picture of the US economic landscape.

Looking Ahead:

• Tuesday, Nov 28: CB Consumer Confidence in the US will be a key indicator to watch, potentially influencing market sentiment.
• Wednesday, Nov 29: The NZD will be in focus with the Official Cash Rate decision and the RBNZ’s monetary policy statements.
• Thursday, Nov 30: The day will be significant with the OPEC-JMMC Meetings and US economic data releases, including the Core PCE Price Index and Unemployment Claims.
• Friday, Dec 1: A pivotal day for the US with the release of the ISM Manufacturing PMI and remarks from Fed Chair Powell.

Market Analysis

In the Charts:

• Forex and Commodities: The past week saw widespread gains against the USD, particularly notable in the indices. Silver showed potential for further upside, while Crude Oil indicated a struggle in determining its direction.
• Indices: After recent gains, technical retracements seem likely, hinting at potential shifts in market dynamics.

Bitcoin is trying to build up to a bullish breakout here, however, if it falls down through the upwards-sloping trendline, it could head down to the next support level before resuming an uptrend.

The U.S. Indices are nice and bullish, but also due for a natural retracement in the near future.

U.S. Oil is still in a downtrend, but has started to display more mixed sentiment.

Gold really testing resistance at the moment – although there are likely to be sellers pushing back, Gold might achieve brand new highs in the near-to-medium future.

Potential Outlook:

The coming week promises to be just as eventful, with significant economic data and statements on the horizon.

Traders should particularly keep an eye on the developments in the US and Eurozone, as well as any geopolitical events that might influence market directions.

That’s our wrap-up for this week. Stay informed and prepared as we navigate these dynamic markets together. For more insights and trading tips, visit FXGlobe.com. And remember, always trade wisely and stay vigilant!

Related Article: https://www.fxglobe.com/what-should-traders-do-when-markets-are-too-volatile/

El optimismo en los mercados parece seguir instalado y las fechas de acción de gracias, BlackFriday y las posteriores navidades, suelen ser fechas estacionalmente alcistas para estos activos.

En el artículo de hoy, vamos a analizar qué esperamos para los índices americanos en este tramo final de año, con esas fechas tan destacadas. Cómo el Bitcoin sigue fuerte y celebra la victoria de otro presidente que lo apoya, Milei en Argentina, mientras seguimos a la espera de la aprobación de los ETFs de Bitcoin al contado.

Temporada de resultados corporativos

De primeras, seguimos en temporada de resultados corporativos de las principales empresas del SP500. Os lo compartimos para que lo tengáis en cuenta si estáis invertido en alguna de estas. Destaca claramente Nvidia, una de las 7 magníficas, que desde nuestro punto de vista está bastante sobrevalorada con un PER por encima del 120.

Bueno, vamos a empezar primero por el escenario que nos propone uno de los grandes de Wall Street.

Goldman Sachs nos plantea su escenario sobre el SP500 en uno de sus últimos research. Si idea es una en el S&P500 lateralidad hasta mediados de 2024 y luego subida a los 4.700 puntos. Os compartimos la imagen:

Desde Morgan Stanley, leemos también como su jefe de estrategia, el “bearish” Mike Wilson también prevé un final de año sin grandes subidas. De hecho dice que los inversores que están esperando un rally de navidad podrán verse decepcionados. Dice que los repuntes en el último trimestre están bajando considerablemente.

Consejo del mercado

Sabemos que ahora el consenso del mercado descuenta que los tipos de interés quizás empiecen a bajar en la reunión de mayo.

La inflación parece que cada vez está más cerca de controlarse (veremos que hace el petróleo en los siguientes meses) y por lo tanto los principales bancos centrales pueden volver a políticas monetarias expansivas. Eso el mercado lo suele celebrar.

Os vamos a compartir un gráfico que es muy interesante, relacionado con lo que veníamos comentando:

Vemos que invertir en el S&P 500 cuando estaba en una tendencia alcista y las tasas estaban cayendo habría tenido un rendimiento del 14,5% anual.

Comparación con el SP500

Compare eso con el escaso 0,79% anual cuando el S&P 500 estaba en una tendencia alcista, pero las tasas de interés estaban subiendo. Por lo tanto, podemos decir que en los últimos 50 años casi todos los rendimientos en el S&P 500 se han logrado cuando las tasas estaban cayendo.

Si nos fijamos en particular en el sector tecnológico, vemos que Microsoft y Apple representan el 30% del Nasdaq y cotizan a los niveles de valoración más altos desde la crisis PuntoCom. Vemos que Apple lleva 5 trimestres en recesión de earnings y Microsoft con dinámicas burbujísticas debido a la IA. Esto,obviamente muestra que tenemos mucho riesgo para este índice en el medio plazo:

Por lo tanto, en nuestra opinión para la renta variable americana, la tendencia sigue siendo clara, y a corto plazo no tenemos indicadores técnicos que no marquen giro de mercado, pero entendemos que el 2024 puede ser un año complicado y hay que ir con pies de plomo.

El Bitcoin y su ganancia de precio

El Bitcoin, en cambio, sigue flotando en noticias muy positivas, seguimos esperando al halving de abril y a las aprobaciones de los ETFs en enero. En relación a estas posibles aprobaciones, vemos una comparativa de lo que pasó cuando aprobaron el ETF del oro.

Estamos esperando el bull run y, como ya hemos dicho en alguna anterior ocasión, esperamos que nos acerquemos a los máximos históricos a finales del año 2024. Nuestro escenario es seguir haciendo dca (acumulando) mientras se encuentre en estos entornos de los 30.000-40.000.

Como siempre, seguiremos todas estas ideas en los siguientes artículos. !Buen trading!

Market Movements: A Shift in Tide?

Starting the week with significant data points, we saw the German Prelim CPI m/m holding steady, which may suggest an underlying resilience in the European economy despite ongoing pressures. Meanwhile, the Spanish Flash CPI y/y aligned with forecasts, indicating a sustained inflationary trend that the European Central Bank (ECB) continues to monitor closely.

In the U.K., the Monetary Policy Committee’s decision to maintain the Official Bank Rate pointed towards a continued stance on tackling inflation, but the 3-0-6 vote split also highlights a growing divergence in policymaker perspectives. On the other side of the pond, U.S. employment metrics painted a mixed picture, with the Non-Farm Employment Change falling short of expectations yet still showing robustness in the labor market.

Chart Analysis: A Precursor to a Bullish Breakout?

Flipping over to the charts, there was an undeniable rally against the U.S. dollar. The EURUSD pair, alongside Gold and Crude Oil, displayed strength that could potentially signal a more significant bullish phase. However, it’s the sustainability of these gains that will be of particular interest to traders.

BTCUSD is due for a retracement, but is nice and bullish overall. Any pullbacks down to 30,000 is still good.

The DOW30 and other U.S. Indices had a fantastic week, and any pullbacks will be attractive possible entries for bulls.

US Oil appears more bearish than bullish at this time. If nothing else, at least undecided.

Gold, similar to Bitcoin, is clearly bullish, however it could still retrace lower before heading higher. Traders are watching for clues either way.

EURUSD, and other majors signalled their intentions to move higher. Aside from natural retracements along the way, it’s not unreasonable to expect this week to see further gains.

For those eyeing bullish entries, the end-of-week consolidation could serve as the calm before the storm of market activity. As these assets have rallied, there is anticipation in the air that should these levels hold, we might see a continuation of upward trends into the new week.

Looking Ahead: A Week Ripe with Potential

As we peer into the week ahead, several key events could further influence market sentiment. BOJ Gov Ueda’s speech may provide fresh insights into Japan’s monetary policy direction, while Fed Chair Powell’s comments will be scrutinized for hints on future U.S. interest rate adjustments.

In the U.K., any commentary from BOE Gov Bailey could sway the GBP’s trajectory, especially if it touches on economic outlook and interest rate discourse. Additionally, the U.S. Prelim UoM Consumer Sentiment index will be an essential gauge of consumer confidence, potentially affecting the dollar’s strength.

Make the most of your market knowledge by following Adam Harris’s detailed breakdown of the latest updates.

Last Week’s Economic Highlights

United States

A week full of action in the U.S., with unemployment claims hitting 198K, well below the projected 210K. But what grabbed headlines was the 4.9% GDP growth rate, smashing forecasts and hinting at an economy in overdrive.

Eurozone

The Eurozone painted a more muted picture with weakening Manufacturing PMIs. Germany’s industrial sector, in particular, seems to be slowing down, a possible red flag for the Eurozone economy.

United Kingdom

The UK market was surprised with a jump in the Claimant Count Change to 20.4K, way off the 2.3K forecast. This could impact Sterling in the coming days.

What the Charts Say

Commodities saw a slight uptick this week, while Indices trended downwards. The majors (EURUSD, GBPUSD, etc.) showed mixed reactions. Bitcoin broke the mold, becoming the best performer of the week, something traders hadn’t seen for a while.

Here’s the SP500 showing another week down, but not as bearish as the previous week.

The UK100 did not have as bearish a week as the U.S. markets. Another positive sign.

US Oil is still operating within a range for now.

Gold has so far not closed any higher and is still within the previous week’s range.

AUDUSD is quite strong, with a small green/bullish candle formed here.

And finally, the EURUSD seems intent on closing slightly lower after a range-bound week.

Bitcoin displays the biggest move of the week, with a clear and solid push higher.

What to Look For This Week

United States
Keep an eye on the Federal Funds Rate, which is expected to hold steady at 5.5%. The Employment Cost Index and consumer confidence data should also offer insights into the U.S. economy’s health.

Eurozone
Don’t ignore Germany’s Prelim CPI expected at 0.3%. It can signal how the Eurozone’s economic engine is running.

Asia
For those trading the yen, watch out for the BOJ Press Conference and the Monetary Policy Statement which could offer clues on Japan’s economic outlook.

As we head into another week, the American GDP figures set an optimistic tone. But will this optimism spill over to other markets? Only time will tell. Keep your eyes peeled, and happy trading!

That’s it for this week’s market review. Remember, the key to successful trading is to keep calm and carry on!

Last Week’s Economic Highlights

United States

A week full of action in the U.S., with unemployment claims hitting 198K, well below the projected 210K. But what grabbed headlines was the 4.9% GDP growth rate, smashing forecasts and hinting at an economy in overdrive.

Eurozone

The Eurozone painted a more muted picture with weakening Manufacturing PMIs. Germany’s industrial sector, in particular, seems to be slowing down, a possible red flag for the Eurozone economy.

United Kingdom

The UK market was surprised with a jump in the Claimant Count Change to 20.4K, way off the 2.3K forecast. This could impact Sterling in the coming days.

What the Charts Say

Commodities saw a slight uptick this week, while Indices trended downwards. The majors (EURUSD, GBPUSD, etc.) showed mixed reactions. Bitcoin broke the mold, becoming the best performer of the week, something traders hadn’t seen for a while.

Here’s the SP500 showing another week down, but not as bearish as the previous week.

The UK100 did not have as bearish a week as the U.S. markets. Another positive sign.

US Oil is still operating within a range for now.

Gold has so far not closed any higher and is still within the previous week’s range.

AUDUSD is quite strong, with a small green/bullish candle formed here.

And finally, the EURUSD seems intent on closing slightly lower after a range-bound week.

Bitcoin displays the biggest move of the week, with a clear and solid push higher.

What to Look For This Week

United States
Keep an eye on the Federal Funds Rate, which is expected to hold steady at 5.5%. The Employment Cost Index and consumer confidence data should also offer insights into the U.S. economy’s health.

Eurozone
Don’t ignore Germany’s Prelim CPI expected at 0.3%. It can signal how the Eurozone’s economic engine is running.

Asia
For those trading the yen, watch out for the BOJ Press Conference and the Monetary Policy Statement which could offer clues on Japan’s economic outlook.

As we head into another week, the American GDP figures set an optimistic tone. But will this optimism spill over to other markets? Only time will tell. Keep your eyes peeled, and happy trading!

That’s it for this week’s market review. Remember, the key to successful trading is to keep calm and carry on!

Last Week’s Economic Highlights

United States

A week full of action in the U.S., with unemployment claims hitting 198K, well below the projected 210K. But what grabbed headlines was the 4.9% GDP growth rate, smashing forecasts and hinting at an economy in overdrive.

Eurozone

The Eurozone painted a more muted picture with weakening Manufacturing PMIs. Germany’s industrial sector, in particular, seems to be slowing down, a possible red flag for the Eurozone economy.

United Kingdom

The UK market was surprised with a jump in the Claimant Count Change to 20.4K, way off the 2.3K forecast. This could impact Sterling in the coming days.

What the Charts Say

Commodities saw a slight uptick this week, while Indices trended downwards. The majors (EURUSD, GBPUSD, etc.) showed mixed reactions. Bitcoin broke the mold, becoming the best performer of the week, something traders hadn’t seen for a while.

Here’s the SP500 showing another week down, but not as bearish as the previous week.

The UK100 did not have as bearish a week as the U.S. markets. Another positive sign.

US Oil is still operating within a range for now.

Gold has so far not closed any higher and is still within the previous week’s range.

AUDUSD is quite strong, with a small green/bullish candle formed here.

And finally, the EURUSD seems intent on closing slightly lower after a range-bound week.

Bitcoin displays the biggest move of the week, with a clear and solid push higher.

What to Look For This Week

United States
Keep an eye on the Federal Funds Rate, which is expected to hold steady at 5.5%. The Employment Cost Index and consumer confidence data should also offer insights into the U.S. economy’s health.

Eurozone
Don’t ignore Germany’s Prelim CPI expected at 0.3%. It can signal how the Eurozone’s economic engine is running.

Asia
For those trading the yen, watch out for the BOJ Press Conference and the Monetary Policy Statement which could offer clues on Japan’s economic outlook.

As we head into another week, the American GDP figures set an optimistic tone. But will this optimism spill over to other markets? Only time will tell. Keep your eyes peeled, and happy trading!

That’s it for this week’s market review. Remember, the key to successful trading is to keep calm and carry on!