Key Levels and US Market Review for the Asian session open 25/05

NYMEX:CL1!   Light Crude Oil Futures
A continued debt ceiling standoff pressured share market Indexes lower overnight as more traders were happy to lock in some gains. Indexes pushed down into support levels as traders went risk off. The UK inflationary numbers came out higher than expected pointing to more interest rate rises from the BOE. The US open was weak and bulls found no love from the FOMC statement which continued to re-iterate focus on coming data which will determine whether there are further rate rises or not. Bond markets continued to factor in higher interest rates in the pipeline as yields moved higher.

Expecting weaker open in Asian markets with the ASX200 expected to start down 30 points and the Hang Seng expected to open down 500 while the Nikkei to open mildly lower down 80 points.

I expect that there is major concerns over the US economic slowdown brewing, and how the US is going to fund its debt with GDP easing. Longer term trends are for interest rates to level out. But if the economy cools while inflation remains elevated, then it is difficult to cut rates to stimulate growth...we will see how things play out soon I suspect.

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 :-
Hang Seng
USD Index

** If you like the free content then follow my profile to get more daily ideas and learning material **

** Comments and likes are greatly appreciated. **

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.