Key Levels and US Market Review for the Asian session open 6/06

European and US Indexes gave up early gains as Tech supported the broader market in the US. Data out in the US was weaker than expected which supports hopes for a pause on interest rate hikes but also increases concern for an economic slowdown. The USD took a hit after the data release which supported Gold and Copper. OPEC extended production cuts to buoy prices which which highlights their concern for easing demand for Oil.

Expecting a mixed open for Asian with the ASX200 expected to open down 37 pts, Hang Seng to open relatively flat and the Nikkei to open down 200 pts.

I expect that the bigger picture concerns over the US economic slowdown will weigh on share markets. How the US is going to fund its debt with GDP expected to ease will also be at the forefront on investors minds. The main focus for traders will be coming data releases and what that means to the US and hence global economy.

KEY ACTIONABLE LEVELS into the Asian market session. Review of the European and US sessions and what that will mean to the price action in the near term along with key levels to watch.

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

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