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The Week Ahead

ALPHA Weekly Report - 28th November 2022

Week Ahead

G'day folks and welcome to our exclusive ALPHA week ahead report with your friendly, neighbourhood CMC Market Analyst! 

For real-time up-to-date data/news/research/ideas/strategies, check out our market analysis page on the CMC Markets Alpha Invest platform and follow us on Twitter:

Azeem Sheriff - @Azeem__Sheriff 
CMC Markets - @CMCMarketsAUSNZ
CMC Markets - @CMC_AlphaAlerts
 

Week Ahead
 

ASX Key Events (For the week)

Global Economic Key Events

What are we watching?

  • The bond yield inversion deepens further: The spread between the US 10-year and 2-year bond yields widened further, which is the steepest since 1981. This indicates a gloomier US economic outlook, which is usually a sign of a hard recession ahead.
  • China returns to Covid lockdowns: Following relaxing rules on health restrictions, China’s daily Covid cases reached the highest since the pandemic. With major cities, such as Beijing, and Shanghai, facing the threat of being in lockdowns again, the impact on the already sluggish global economy could be big, especially on commodity prices.
  • The US dollar declines: The king dollar is on a fast pace of declining since the US printed light CPI data in October as investors believe that the Fed has reached its peak of hawkishness. It is expected the trend in the FX world will continue till the next inflation data offers more clues to the economic front.
  • Crude oil prices sink: The recent fall in oil future prices implied a drop in inflation expectations as crude and inflation have been positively correlated. From the macro perspective, weakened demand is the main bearish factor pressuring the oil markets.
  • Gold is on the rebounding trend: The precious metal is on a steady pace of its rebound due to a weakened USD and chaos in the crypto markets. Gold may return to investors’ portfolios being a haven asset. 
     

Week That Was
 

Global Economic Key Events 

Top Key Global Headlines

ASX Weekly Chart

ASX Sector Performance

Movers Shakers

(All information sourced from Bloomberg)

Disclaimer

This report provides general information only and does not take into account your objectives, financial situation or needs. CMC does not issue advice, please seek independent advice. Consequently you should consider the information in light of your objectives, financial situation and needs. Consider the relevant Terms and Conditions at cmcmarkets.com.au.

CMC Markets Stockbroking Limited (ABN 69 081 002 851 AFS Licence No. 246381 ‘CMC Markets’), Participant of the ASX Group (Australian Securities Exchange), SSX (Sydney Stock Exchange) and Cboe (Cboe Australia) provides the financial products and/or services. It’s important for you to consider the relevant Terms and Conditions and any other relevant CMC Markets documents before you decide whether or not to acquire any of the financial products. Please also refer to our Financial Services Guide containing details of our fees and charges and, if applicable, our Target Market Determination for Exchange Traded Options. All of these documents are available at cmcmarkets.com.au or you can call us on 1300 360 071.

The examples in this report are hypothetical and are provided for illustrative purposes. They are not intended to suggest how an underlying asset might perform or how CMC Markets might exercise its power or discretions. 

 


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