Michaël van de Poppe - 04 October 2022
Which events to keep your eyes on and a TA on $DXY!
Welcome to a new week! Nowadays, there is an event every week that can influence market direction. This week too!
This blog article gives you an overview of what to expect this week.
Weekly Macro Outlook
The data collection continues. This week we have another set of events, I'm looking at the following ones:
Potential market movers:
Unemployment Rate Important Data:
ISM Manufacturing PMI
ISM Services PMI
Non-Farm Employment Change
The ISM reflects the current status of the business cycle based on current data. With this new data, we can again start making predictions about the trajectory of the next 6-12 months
But, the Unemployment Rate in particular is giving a lot of uncertainty this week as it is considered the factor on how strong and stable an economy is. In fact, real unemployment is not expected until the start/peak of a recession. 4.4% is the number priced in for now
What kind of direction can we expect DXY?
The DXY index is back in a 4HR Demand zone where normally, given the economic situation, the USD will only increase in strength and thus form an HL here for further momentum up. The $110.5 loss will switch the bias to bearish.
In our Trade Letter we go more in-depth about what to expect every week and how to act. We also analyze more $coins to give you a clear overview of all the trade opportunities available.
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