 Hello and welcome to the week ahead video with me, Dave Madden. Today's date is Thursday the 13th of September at the time It's just gone 18 20 for the summertime and we're looking ahead to next week which begins Monday the 17th of September But before we get to looking at what's gonna what's going to happen next week Let's just have a quick roundup of what's happening this week and also today Today Thursday the 13th of September has been a fairly busy day on the markets This is the least we've had a number of updates from a number of central banks the trucker central bank raise the interest rates to 24% from 17s point seven five percent Reuters Attic and census estimate of 22% The rate I did come to some as a bit of a surprise Given that president Erdogan stated a few hours beforehand. He's actually in favor of interest rate cuts Today also we have heard from the Bank of England. There's no change to the monetary policy whatsoever and no good surprise there The Bank of England did though raise their actual their third quarter outlook growth to zero spot five percent from zero point four percent And said that consumption is on the rise The ECB update today also No change the actual interest rates and no surprise there But it states sort of as expected that they're going to be winding down the cost of the recent program Come October they're going to be trimming the bond buying scheme down to 15 billion dot 15 billion euros worth of government bonds per month Until the end of 2018 Within the bank within the European center bank update They also manage fashion lower growth forecast for the next number of years and the warrant about the potential risks from emerging market economies And also the rise of protectionist policies And today we also had inflation from the US inflation inflation rate dropped from 2.9 percent back to 2.7 percent Economists respected applying down to 2.8 percent. This softened up the US dollar a prop to put the currency such as the euro and the pound And it also managed to actually push a economic attire as well because it is a slightly some of the fear around a tighter module policy If on the benefit of reserve has been removed somewhat It's also reporting out that US equities have been having a good shape the last couple of days I given given the fact that United States has reached out to China in terms of actually trying to get trade trade negotiations rebooted The old price had a fairly sizable cell today for a couple of reasons First of all the hurricane Florence, which is enroute to the United States as as we speak Has been downgraded from a category 4 storm to a category 2 storm So some of the fear factor around that has declined also the International Energy Agency stated that OPEC output in August Actually increased by 2.8 percent. So So added to the increase in an output added to the selling pressure Take a look to next week starting off on Monday the 17th of September FedEx have first quarter figures And even though some even though the the work the kind of rise of e-commerce and online shopping It's been a major dent in on in traditional retailers and also the kind of tradition high street It's actually been great business for FedEx the delivery company. The most recent set of foliar figures We've seen increase in both profits and revenues and which came in above expectations and also managed to raise their guidance On Wednesday here from the from the Bank of Japan No expected there no expect no change expected in relation to their policy Even though we had a few tweaks of the from the Bank of Japan's largely policy was expected No change to their policy coming up Growth is at a best levels since 2015 but still we're expecting any change from the be of the BOJ policy On Wednesday, we have first-class figures from Kingfisher If the first quarter was was quite weak second quarter Was was that was quite respectful partially because of the warm weather but also look quite good in comparison to the value week first quarter Kingfisher they get the same issue with the kind of French division for a number of years now We could hear whether there's going to be any changes in relation to restructuring Perhaps or maybe not at the vision. I will also look forward to actually their their foliar guidance On Thursday is the Swiss National Bank the S&P SNB We're even though first quarter growth was was a 1% and zero and and second quarter growth Well, 7 10 7 tenths of what percent we're still expecting no change from the negative interest rates at the S&P hold On Thursday Darden restaurant group over the United States will have a first quarter figures out Bearing in mind the last time we had a quarterly update from from the organization Q1 Q1 revenue Q1 earnings for 18% all the various different Restaurant chains that the owner of actually are producing increase in sales US consumer sentiment is on the rise and appears to be here to stay On Friday, we've both Canadian CPI and Canadian read both Canadian CPI and also Canadian retail sales Broadly speaking the CPI is pretty positive recently for the retail sales has been a little on the mix side There is speculation that the Bank of Canada are equal to raise rates next month It's not unusual for the Bank of Canada to actually kind of keep a certain keep a certain distance behind the Federal Reserve And there is talk Federal Reserve are going to raise rates this month here in September And Friday finally we have foliar figures from Smith's group now One of the kind of issues that Smith's group could potentially face is that some their medical device division Some of the in relation to EU rules which are changing around 2020 some of their products may not be compliance with that That's going to be an issue potentially an issue for Smith's groups to keep them out for that And also we could hear an update on the kind of on again after getting talks of the merger with the US company I I see you medical Take a look now. I'll come to the markets that we discussed. I'll take a look now at the S&P 500 start off with S&P 500 has kind of resumed. It's up for trend. We're not too far away from the all-time high As you can see the big picture has been a classic example of higher highs and and higher lows If you continue to push off from here, we could be looking at retreat retargeting 2019 16 I think all beyond that we could be looking heading up towards 2019 20 moves to the downside in the S&P 500 made by support in wrong this area here, which would come into play in around 2864 I don't move south of there could find support from the fifth any moving average this blue line here Which comes into play at 2800 and 44 Take a look at that as well at the at the dollar yen You mentioned the bank of even update for the bank of Japan next week So broadly speaking the dollar yen has been on the rise basically since April Even though we have seen a bit of a south in recent months Essentially the kind of the wider upper trend is still very much in play and why would we hold above this red line here at the The training moving average which comes into play at once by 2862 apologies. This is the Apologies, this is the US dollar Canadian dollar chart Which I was going to talk about anyways given that we have Canadian CPI and retail sales figures out So taking a look starting off with the the just to reiterate This is the US dollar Canadian dollar chart So the dollar cash has been as a broadly moving higher As I just touched from most 2018 is that you since February it's in a fairly solid upper trend And while we remain north of this red line here The two hundred a moving average which comes to play at once about 2862 It's like that that all like is going to remain positive if it didn't get pushed on higher from here We could be looking at targeting the this region here The kind of highs of mid-July in around 132 spot 89 And if we go beyond that we could be heading back up towards the June highs It's coming to play in around once by 3385 and he moves to the downside may find some support from this red line here The 20 moving average which as I said comes into play at once about 2862 And I moved south of that I could pay the way to prefer the losses And I could target this region here in around in around the one spot 2750 area Now we're coming on to the US dollar US dollar Japanese yen Once again apologies for that. So we're now looking at the dollar yen chart And the dollar yen chart has been broadly moving positive since March. It's been in a fairly decent upper trend in recent months There was a bit of a pullback between July and August But be fair it did manage to make a lot of ground between March and July in the first place But notice how that you got fairly decent support of the two hundred a moving average this red line here and mark has been pushing higher yet again And the highs of today is nice to take out the highs of August. So we're not back at levels not seen Since well, she's since actually early August. So the highs of today have taken out the highs of late August Or not back to level has not seen since early August if we do continue to push on higher from here We could be looking at targeting this area here at once one spot 1215 And if you go to one of that we could be heading up towards the July high of once about 1318 And he moves to the downside may find some support from this first of all from this one hundred a moving average This yellow line here which comes into play at one spot one tens by 62 I move south of that because it finds the sport of the Tunneling will be average this red line here. We should come into play at 109 spot 77 Take a look now at Darden restaurants that restaurant company in the US Which have fun which have numbers coming out next week It's been in a classic example of an upper trend for a number of years now And if you can see here that it says she's been in a particularly particularly impressive upward trend since May of this year The gap higher here suggest the gap of the upsides upsides points to upper momentum As you can see we could push on higher here. Then only it's actually only It was only a few days ago. We actually managed to actually hit an all-time high So that really sums up how positive the sentiment is surrounding this particular stock if you continue to push on higher from here We could be looking at retesting 120 and if you go beyond that will be obviously in fresh record higher territories Most of the downside may find some support from this blue line here that the 50 moving average which comes into play at 1 12 spot 27 notice how that the 50 moving average they Managed to act as both resistance and support Back in June and the metric is acted as both support and our resistance not too long ago Possibility it made me do so again in the future I take a look a quick look now at the pound versus the US dollar said a fairly decent session the last few days before we wrap things up So the pound has been losing ground versus the US dollar since April But it's but in the last few sessions. We have to see in a very decent mood to the upside and If you take a look at the price action We've seen the market value in the last few days. We fit level not seen since since early August Taking a look at the MacD he indicated MacD MacD histogram We can see there's a fairly steady increase in positive momentum So this move to the upside is the increase being confirmed by the steady increase in positive momentum So we'd be more confident that this upward move is going last and while we remain above this blue line here at the 50 moving average which comes into play just south of the 130 region We could see further gains made on the pound versus the US dollar And if you take any departure on higher from here We could be looking at targeting the 132 spot one spot 3250 area I mean you've seen quite a bit of consolidation in recent months on that area if you fall If you do match to kind of turn over on itself and fall back below Fall back below they're gonna 130 area We could be making heading back down towards the early September low of one spot 20 one spot 27 85 And if you go south of that, we could be looking at targeting the August low of one spot 26 6 1 spot 26 61 Well, if you've any kind of comments on this video or any of the other videos we've made here at CMT markets Feel free to leave a review on Google reviews. That's all for me this week. Thank you very much