Key Levels and US Market Review for the Asian session open 31/03

30 Mar 2023

Major Indexes continue to move higher with the US supported by tech stocks into the notoriously bullish end of month/quarter 'window dressing'. We have some key economic data out ahead of the US open which will give a further indication on inflation and what we could look forward to from the coming FOMC. Share markets have been strong although the Bond markets continue to point to sticky inflation as bond yields press higher. I expect that the major Indexes will hold onto gains into the weekend and then see a selloff early next week but much will depend on the US data release.

Asian markets are expected to open higher with the ASX set to open up 40pts while both the Hang Seng and Nikkei are expected to open up 200pts and continue with recent strength.

'I remain of the view that sticky inflation is the big issue but it remains a balancing act for the Fed as they potentially come to the end of a rate rise cycle. The Fed will need to see hard evidence that inflation is coming under control first'.

A review of the price action from the European session and the US session where I look at some key levels to watch and the price action setups I expect to see play out on the major markets below.

Markets covered :-
DOW
Nasdaq
DAX
FTSE
ASX200
Hang Seng
USD Index
Gold
Oil
Copper