Check out this Week’s TOP3 trading opportunities (April 10-14) and take advantage of the market sentiment. Also, mark important financial events on your calendar.
This Week’s Important Financial Events (April 10-14, 2023)
This week, we will get important macroeconomic data that could change how many markets behave:
- On Monday, the 2023 spring meetings of the World Bank and International Monetary Fund (IMF) began in Washington, DC.
- The first earnings reports from central banks and financial institutions, including JP Morgan Chase, Wells Fargo, Citigroup, BlackRock, and PNC Financial Services, would be released the following week.
- With the release of the US March Consumer Price Index (CPI) and US Producer Price Index (PPI), the most recent inflation figures will be accessible.
- The Federal Reserve will make the most recent policy meeting minutes available on Wednesday.
- On Friday, the US Census Bureau will release information about retail sales in March. This is an essential update on how much people are spending.
Considering the events mentioned above and the current market sentiments, here are some top assets to keep an eye on this week:
This Week’s TOP3 Trading Opportunities (April 10-14)
The Nasdaq did better than the Dow and S&P 500 at the end of March. Prices were approaching the peak of 12987 by mid-September. There is more resistance at 13740, the high point since August 2022. The floor between 10484 and 11068 from last year and the rising trendline from 2020 provide support.
The neutral environment would continue if one stayed between 13740 and 10484. A higher push reveals 14863–15268. On the other side, breaking through support reveals the 8798 level at the 78.6% Fibonacci retracement.
After days of consolidation, the BTCUSD market sharply recovered during the US session as traders purchased the drop. The bitcoin price soared its highest point since June 2017 at $30,120. Since it was at its lowest this year, it has increased by more than 50%.
Bitcoin’s recovery occurred even as US bond yields dipped downward, indicating that market participants anticipate the Fed to keep raising rates. As the 2-year increased to 4% for the first time in weeks, the yield on the 10-year increased to 3.41%.
While the US dollar index increased by over 50 basis points, bitcoin also increased. The index measures how the US dollar has performed versus different currencies.
Even though the opposing force is weakening, natural gas prices staying above solid support makes it more likely that they will stabilize or make a small comeback.
When natural gas retests multi-month lows, fractal dimensions indicate little market variety, and fractal dimensions measure variety distribution. When the measure hits the lower bound, all market players are betting in the same direction, making the price more likely to change. The 65-day fractal dimension for natural gas dropped below the threshold of 1.25, raising the alarm.
Take advantage of this week’s TOP3 trading opportunities (April 10-14) and many others available on SimpleFX this week.