 Hello and welcome to the week ahead video with me David Madden. Today's date is Friday the 1st of March 2019 and the time has just gone 11.50 GMT and I'm looking ahead to next week, which is Monday the 4th of March through Friday through Friday the 8th of March Looking at the moves we've seen this week and particularly towards the back end of this week It's been broadly speaking a fairly positive set very very very positive session The footsies are today as is the the cacti daks and the ibex Some of the eurozone equity markets have gone on to hit fresh what do you want highs? We are seeing a push push higher in the footsie and the footsie has managed to shake off some of the the ground It has lost in recent sessions There's a few things going on US-Chinese trade relations ended Are heading in the right direction both Steve Mnuchin and Larry Kudlow of the US stated Issued quite optimistic statements in relation to the trade. There is more work to be done But by and large things are heading in the right direction There was the abrupt ending to the two days to the meeting between president trump and the north korean leader kim young un The the leader of the north korean state Demanded that all sanctions against this country be removed That led to president trump deciding to cut the meeting short That did have a bit of a negative impact on the markets yesterday kind of yesterday morning But traders are now that the dust has settled Traders realized that the meeting Didn't go according to plan but also could have gone a lot worse So I think sentiment in relation to that has been has rebounded overnight We saw some not great chinese manufacturing numbers the official chinese manufacturing figure Trapped came in at 49.9. It was an improvement on the month and is better than expected But to be fair it is in contraction territory, but Because it appears to be heading in the right direction We have seen a bit of a bounce back in mining stocks and also In the energy and energy stocks as well as that Looking ahead to next week on Tuesday the fifth We have the chinese kai shen survey of kai shen survey of the services sector That's obviously going to be focused to see how well the chinese economy is performing In recent years the chinese government made a concerted effort to move away from Heavy industry and manufacturing more towards services So any kind of economic indicators out of china will traders will be keeping a close eye on to see How well the the chinese economy is doing On choose also on Tuesday. We have the eurozone services PMI PMI numbers The eurozone has been Proof producing some broadly speaking underwhelming economic indicators this morning on on Friday the 1st of March We had a we had manufacturing numbers from spain, italy france and germany and by and large They were they were fairly downbeat as the german The german figures were in contraction territory as were the spanish and italian So We're seeing a situation whereby economic indicators in the eurozone are fairly negative But we we actually are seeing economic markets rally some traders out there view negative news as positive news whereby the worst the economic indicators are from the eurozone is potentially As possible Possible that the eurozone that the european central bank are going to react by actually talking about potentially Introducing some additional target target lending so the services figures out of the the eurozone On Tuesday the fifth are going to be are going to be very valuable because that could potentially Signal what the european central bank are going to do or more importantly what they're going to say On thursday the 7th because on the thursday the 7th of march We actually have the european central bank interest rate decision and statement now no change is expected to be actually underlying interest rate But the statement Uh, it's probably going to be the highlight of the session And as as you see before with the eurozone for the last number of years If they've ever gone to alter their policy they often spend several months in advance talking about it And in the last few weeks we've have heard um rumblings out in central bank the european central bank that they may look at If you know adding another round of target liquidity, so traders will be looking up at that And that's part of the reason why we're why we're seeing The dachs the cac and the ibex all at multi-month highs even though the economic indicators from the region are actually getting worse um It also we're pointing out and balancing that we actually saw some steady Unemployment and cpi numbers from the eurozone. So i'm sure today So i'm sure that's going to get a mention uh a reference in next week's meeting But listen now for any clues about potential changes from the ecb in terms of uh terms of language about what they could do down the line Uh on friday at the back end of next week. We have the all-important us non-farm payroll support Uh, we're expecting 170 000 jobs to have been added I keep in mind in the previous month there were the previous report showed at 300 304 000 jobs are added now it's also worth pointing out that traders Economists were stating that because of the u.s. Government shutdown a large portion of government employees were finding work Be a part-time worker or any work that you get in order to compensate for the government shutdown So as possible we could see a large we could see Uh a large trap off a possibly even a revision to that number of 304 000 In terms of the actual unemployment rate For the United States the unemployment rate is typically to come in at 3.8 percent And keep an eye out for average earnings on a month-on-month basis average earnings are tipped to be 0.3 percent and on a yearly basis average earnings are tipped to be 3.3 percent Essentially the the the average earnings component of the jobs support has become more and more important Essentially the more money americans earn the more likely are to go and spend it And that's going to hopefully keep keep the economy pushing pushing along Uh for those updates that i haven't mentioned next week on tuesday the fifth The reserve bank of australia Will have their interest rate decision no change expected there and tuesday the the fifth ashtead of the uk have third quarter numbers out As i mentioned european years on european services around on tuesday Also on tuesday we have updates from the us retailers cold and target corporation on wednesday here in the uk We have just eat out for your figures On wednesday the bank of carol a interest rate decision statement on thursday as mentioned the european central bank Interest and statement and also of course finishing on friday with the non-farm pills report i'll take a look now at a few of the major markets and see how they're doing Starting off with the footsie 100 as we can see here the footsie 100 has been bouncing back since late december It's not as good as shape as our as the mainland European equity markets are doing in terms of recovery, but it's getting none the less So we've seen the bounce back to the higher high the higher low the higher high higher low The market did manage to put it push a great a multi month high in february But it has cooled but as you can see here the market is in process of bouncing back Yet again, and if you could hold above the 70 40 level We could see the market head back up towards 7200 or 7,220 which is this region here and should we go beyond that The tourney moving average the risk red line here at 7277 might come into play Should we see a move to the downside support might come into play from this From this yellow line here the one-day moving average, which comes into play 6,975 and you notice how That You notice how the this blue line here the fifthly moving average isn't too far below So that this entire region and the fifth day moving average comes into play just below it And you can see here that the fifthly moving average managed to act as support on a number of occasions in january So it makes it more likely that we could see acting as support in the near term We'll take a look at the DAX now, which is hit its highest level in number of months this morning So the DAX is as pushed higher It's driven higher this morning on the 1st of march. We can see that it's up at levels not seen Since early november. So I give an indication of how bullish it is The DAX has been pushing higher Since uh december and we're out at a multi month high We've broken well above the this trend line here, which previously was acting as resistance If you draw a line from the highs of june through july and also to act september We get this trend line here or we can see now that we're well above that And if you continue to press on higher from here, we could be looking at targeting this region here Which is in around the 11,690 area or 11,700 If you continue to break beyond that and push push higher We could be looking at targeting this red line here the dirty moving average which comes into play at 11,862 And if you go beyond that we could be looking at targeting the psychology important 12,000 Should we see a bit of a pullback or a move to the downside? Support might come into play in around where this this trend line is Which would be in around the kind of 11,300 mark or possibly from this yellow line here The water day moving average which comes to play just north of 11,200 and you notice how the water day moving average managed to act as As a support and resistance only only few only few a few weeks ago So it makes it more likely that it will do so in the future I'll take a look now at what's going on with the s&p 500 The s&p 500 has had a remarkable recovery from late december. We're well above It's trading above its two-day moving average Although we are simply running out of steam when we approach the This this area here at two thousand eight hundred and seventeen two thousand eight hundred and twenty On a few occasions in october in november and in december the market failed to break above the two thousand eight hundred and seventeen or two thousand eight hundred and twenty mark So that that's going to be a big one to keep an eye for if you can break above it We could be looking at heading up towards here The lows of the low this region here in around two thousand eight hundred and sixty five Let's go beyond that we could be heading up towards two thousand nine hundred Move to the downside may find some support from the water day moving average Which comes to play at two thousand six hundred and seventy six I take a quick look now at euro sterling euro sterling So euro sterling, um, has been a solid downward trend since Since december if you draw a trend line between the highs of december january and february We could this line here and the set g y we remain below that line. It is likely we could see further losses During the week, uh, we fell back to a level not seen since may 2017 on euro sterling is a given indication of how Bearish the move has been recently and if you continue to drive on lower We could be looking at targeting zero spot eighty five The market does manage to bounce back. We could see it running to resistance in around the zero spot 87 area One last thing before I go As I mentioned the non-farm perils We are holding a non-farm perils live webinar on friday the eighth of march You can sign up on our website. Go to cfcmarkets.com under the learn section You'll find the web you'll find the webinars and events section and you can sign up there Very comes to make on this video or any other videos we've made here at cmc Please feel free to leave review and quick reviews. Thank you very much