Key Levels and US Market Review for the Asian session open 28/03

27 mar 2023

European markets bounced back to finish higher and provide a stronger start to the US session. The US was mixed with the DOW higher while Tech was lower as traders now re-focus on inflation and higher interest rates. This can be seen through support into the USD and higher US Bond yields. As the banking crisis takes a backseat in the news, I expect traders will again be dealing with the prospects of further rate rises and may punish risk assets.

Asian markets are expected to open slightly stronger with the ASX200 and Nikkei to open up while the Hang Seng may open flat and find further selling pressure after yesterdays choppy trading day.

I remain of the view that sticky inflation is the big issue but it remains a balancing act for the Fed with the lingering concerns for the banking sector.

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