 Hello and welcome to the week ahead video with me, David Madden. Today's date is Friday the 19th of July 2019 and the time has just gone 8.58 per summer time. We're looking ahead to next week, which is Monday the 22nd onto Friday the 26th of July. Before we take a look at the big events of next week, let's recap of the major events that happened in the week just gone. So at the very beginning of the week, we had a strong start to equities, particularly US equities, with record highs in some of the major US indices. But on Tuesday, President Trump basically had a dig at Beijing and let the government in China know that tariffs could be slapped on additional goods of up to 325 billion dollars worth. He also let the Chinese government know and the financial markets know that a trade deal still has a long way to go. So the update from President Trump didn't really send traders running for the hills, but those who've had quite a good run on global equities and particularly US equities in recent weeks and months encourage a bit of profit taken. So we've been retreated from the kind of all-time highs that we saw at the very beginning of the week in US trade, US equities. Just overnight or yesterday late last night, we heard from Richard Clare down at the Fed of Reserve. He said the Fed of Reserve should actually look to act in terms of interest rate cuts before the US economy slows down. So there have been some people saying unemployment rate in the US is there a 50-year low, wages are strong, inflation is low, retail sales are decent. It seems to me that the US economy in some aspects is in quite good shape. Although other aspects are softer, why is everyone so aggressively calling for rate cuts? But as Mr. Clare would have said, his thinking is that the Fed of Reserve should act in advance. You can see the slowdown or the some signs of weakness and that today has kind of lifted equities across the world. So it's the same old story whereby the conversations around US-China trade and also speculation about what the Fed of Reserve is going to do have been the kind of major drivers of US equities and both have kind of acted as back and forth. Earlier this week, we kicked off with the US reporting season and in terms of actual corporate updates, it was very interesting on that front. But it did really move the market. They got a globe there that indices a whole lot because like I said, it has more to do with the Fed of Reserve and what they're going to potentially do and US-China trade relations. All of the major US banks by and large earnings managed to actually and revenues largely exceed expectations. But a common theme, continued theme across US banks is that the trade departments tend to have underperformed and tend to be a bit weak. They're focusing more on retail banking and lending and also a lot of IT services and wealth management services. In many cases, some of the banks actually produced lower net interest margin rates, which essentially the money that banks made on lending. So it's a bit of an indication that the very kind of sharp move lower in bond yields is already beginning to impact US banks in terms of profitability. And we haven't even had any rate cuts yet, if we do have any. So it gives indication of what kind of future earnings expectations we could be looking at down the line. There are some of the kind of the major themes of this week. Looking ahead to next week and as quickly run through some of the major events and then we're looking at a few charts. So the beginning of next week on Tuesday, we should know who has won the Tory party leadership contest. And obviously it's so people obviously it's between Jeremy Hunt and Boris Johnson. And Boris Johnson has been the favorite to take the top job. Excuse me. In relation to Brexit, that's obviously going to be at the forefront of a trader's minds. Both Mr. Hunt and Mr. Johnson have talked about renegotiating the withdrawal agreement that trace me hammered out with the European Union. This week, we've heard from Michelle Bardier, who said that in relation to the Irish border situation, there could be alternative solutions could be applicable. So there's a bit of optimism there. It's slightly suggest that the European Union is slightly softening the stance, possibly because both candidates who were vying for the Prime Minister ship seem to be dedicated to actually renegotiating. But the fact that Mr. Bardier said that gave some trader some, it became less fearful that a no deal Brexit would happen, although it's still the default position. On Tuesday, we also have a first-time figure that's found fever tree, the mineral company, the gin craze that swept the UK in the last couple of years has seen their tonic water prove to be very popular. Second quarter figures from Tesla on Wednesday, we are French during manufacturing and service figures. This is going to be of close importance because the two largest economies in the Eurozone are the two largest sectors of the respective economies. During manufacturing has been the stand-off under performer. It's been in the red. It's been in contraction territory all the way until the future of 2019. That's very worrying because it's a bigger part of the German economy and the German economy is a big influencer in the Eurozone. US manufacturing is just about eking out growth. That's also going to be released on Wednesday as the second quarter figures from Facebook and first half figures from Metro Bank. Thursday, European Central Bank update, the European Central Bank are a bit nervous about what the Fed reserve are going to do because at the very end of July, we'll have the update from the Fed reserve in relation to interest rates. And the speculation is we're going to have no interest rates from the Fed. So the European Central Bank may want to kind of get out ahead of them and actually either use some dovish language to try and talk the Euro lower because if the Fed do cut at the end of the month, that could put upward pressure on the Euro and let's face it, the European Central Bank would prefer a softer single currency. On Thursday, we also have second quarter figures from Amazon and Intel. On Friday, we have the advanced reading of the second quarter growth figures from the US. And we also have first half figures from RightMove. So take a look now at some of the major equity indices. So the wider view of the global equity is that they've had a good run in 2019. This year is the Foxy 100, a solid run by 2019. We reached a multi-month high at the beginning of the month, but we probably can drift it a bit lower. But we have found decent support in around this area just south of 7,500, down to work in 7,485, that region, or maybe 7,470. As long as we can hold above this area, it's likely that the wider upper trend could continue. I'm sure we take off the recent highs here. That could pave the way for this region, 7,797 to be tested. Notice how, despite the gentle pullback in the last week and a half of the Foxy, we're still going to be above the blue line here at the 50-day movie average, which comes into play at 7,387. I'll be talking about the 50-day movie average across the DAX and the S&P in the next couple of charts. And essentially, while all those indices hold above the respective 50-day movie averages, it's likely that the wider upper trend in global stocks is going to continue. Similar picture here on the DAX. A multi-move high was achieved in early January and early July, but we have been drifting lower. But notice how the DAX found some support from its 50-day movie average, this blue line here. And if you could hold above that, it's likely that the wider positive trend could continue. And if you do much to press on higher from here, we could be looking at retest in this region here at 12,460, and beyond that, it could take north of 12,600 up to 12,660. And if you go beyond that, we could be looking at targeting left of that scene since last July up around 12,887. And even if you do have a break below this blue line here, the 50-day movie average support could be found from the psychology port and 12,000 mark. Take a look at what's going on over in the US on the S&P 500. So like I said, the S&P 500 racked up a all-time high at the beginning of the week, so that tells you how bullish a sentiment is. And I record this video just after nine o'clock in the morning, so already the futures are indicating we're gonna open not a million miles from the all-time high. So the sentiment is clearly very positive in the US. If we continue on the higher from here, we could be looking at targeting 3,020 on the S&P 500 traders because we're in uncharted territory. Traders are looking off at big numbers like 3,030, 3,040, so on and so forth. Even if you do manage to drift lower, support could come into play in this region here in around 2,952. Notice how we are comfortably above, well above its 50-day moving average, which just did manage to act as support in early June. And if a metric has acted as support in the past, it makes it more likely it will do so in the future. Obviously, there are no guarantees. I quickly take a look at Euro-starting because obviously Brexit is gonna be at the forefront of traders minds next week and we also have the European Center Bank update. But basically between early May and mid-July, we are gonna have very positive six-week run on Euro-starting. So the trend is clearly to the upside, but if you just take a look at the last couple of days, price action, if we were to blend these two counts here together, we could, this could be argued that this is a daily bearish reversal. So we could potentially see a bit of a move to the downside in Euro-starting because mind is rallied for about six weeks. We haven't had a size of a pullback in Euro-starting in a while. This could potentially be it. And if you do manage to drift a bit lower on Euro-starting, support could be found necessarily here in around zero spot 88-72, which isn't too far away from the fifth that they move the average, which act to support back in early May. If the wider trend does manage to continue and if you take off the recent highs, it could be like you're targeting this area here in at zero spot 91-60. That's all for me this week. 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