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Market Blast 7 May 2019


Welcome to this week’s Market Blast.

7 May 2019

Global stock indices took a dive yesterday and the declines are continuing today based on the US President’s threatening more trade sanctions with China.

However, from the technical side, we have been in a bull run all year and this just may be a market correction and a good time to buy so keep an eye on lower trend lines and the 50 and 200 day moving averages like these on the Nikkei.

JP225 07-05-2019

A bounce could see us heading back to key levels from last year or a break below could see the same to the downside.

We are seeing a similar situation on the FTSE 100 but keep an eye on Cable as a strong pound does not usually favour the FTSE and this Friday’s UK GDP and Production figures will be important.

Indicies 07-05-2019

Also, watch tomorrow for volatility on NZDUSD and the crosses as we have an interest rate decision due tomorrow.

NZD 07-05-2019

The New Zealand Dollar has been weaker recently against most other currencies except Aussie.

Also, watch for Trade Balance and Employment figures from Canada this week as we may be seeing a pennant forming on USDCAD but we will pick this up next week.

USDCAD 07-05-2019

Also, next week, we will revisit the correlation between the price of WTI and the Dow Jones Industrial Average.


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