G'day folks and welcome to another trading day with your friendly, neighbourhood CMC Market Analyst!
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Azeem Sheriff - @Azeem__Sheriff
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Trading Idea of the Day
ASX:XJO - ASX 200 - Range Trading
- Key levels on the chart - consider taking trades from key support/resistance zones
- ASX has recently taken a lot of its cues from the US market as global aggressive rate hiking dominates the scene
- ASX is currently ranging between 2 key support/resistance zones, so for those trading both directions, can consider taking entries from these zones.
- We may see some respite here as the markets digest recent volatile events.
ASX & Economic Key Events
ASX Key Events Calendar (TODAY)
Economic Key Events (TODAY)
Economic Key Events (YESTERDAY)
OPTO For Investors Research
Article of the Day: Twitter, Meta and Pinterest share prices slump in ad spending drought
Podcast of the Day: OPTO Sessions Inside Callum Thomas’ Topdown Charts analysis process
APAC Daily Report
Click here to access our daily APAC report, prepared by my fellow market analyst @TinaTeng_CMC
Market Snapshot & Highlights as of 7am AEST
EXPECTATIONS: Energy LOWER (lower oil) & Materials LOWER on falling commodity prices.
Global Markets Headlines
- Bank of England says it won’t hesitate to hike rates after pound falls to a historic low (CNBC)
- Apple begins making the iPhone 14 in India, marking a big shift in its manufacturing strategy (CNBC)
- India has a big role to play’: New Delhi is trying to turn the country into a chip powerhouse (CNBC)
- Wall Street’s fear gauge hits highest level since June (CNBC)
- The far-right wins big in Italy. Here’s what that means for Europe (CNBC)
- Chinese EV maker Li Auto falls after it cuts delivery outlook; Beijing extends tax breaks for electric cars (CNBC)
(All news & data sourced from AFR / The Australian / Bloomberg / Reuters / CNBC / Wall Street Journal / Morningstar / OPTO / Trading Economics)
Disclaimer: CMC Markets is an execution-only service provider. The material (whether or not it states any opinions) is for general information purposes only, and does not take into account your personal circumstances or objectives. Nothing in this material is (or should be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by CMC Markets or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although we are not specifically prevented from dealing before providing this material, we do not seek to take advantage of the material prior to its dissemination.
