 Hello and welcome to the week ahead video with me David Madden today's date is Thursday the 25th of October 2018 and the time has just gone 1740 British summer time, but we're looking ahead to Monday the 29th of October on to Friday the 2nd of November Next week the main focus is going to be on the UK and the US on Monday We have the UK budget It's gonna be big news for my political point of view, but it may not be that big of a deal from the financial markets It does seem strange though that the UK government is pressing head with the budget Even though there's been no no kind of deals being struck in relation to Brexit So any future deals of Brexit may require some tweaking to the announcement that we're going to hear about next week On Thursday, we've been updated from the Bank of England. No change is expected in terms of apology policy We're also here from the bank. We also hear from the you also hear the inflation report And that that's potentially going to be the more important of the two updates on that particular day There's been a recent decline in the British Pound Which may cause which may prompt Bank of England to actually raise its inflation forecast And if you do have an inflation If the inflation forecast is raised and may might suggest the Bank of England are going to tighten Model policy is sooner than initially told so keep an eye out for that And on Friday is the first Friday of the month. So that means it's US non-farm payrolls Bearing in mind the September figure wasn't wasn't too great. Only 134,000 jobs were added But we could have a revision to that number given that the hurricane over in the US Caused some disruption. So it's possible It's certainly possible that we could see a upward revision to that number It's also worth remembering that the average earnings in the US last month actually slipped back to 2.8 percent from 2.9 percent And once again earnings are actually probably one the more important component of the job support When Americans are earning more money, they tend to go out and spend more money Taking a look at some of the major markets which could be impacted starting off with the pound versus the US dollar The pound last a fair bit of ground versus the US dollar between April and August And since then it's been Since mid-August it was it was staging a fairly decent comeback But notice how the high of october failed to take out the high of september and notice how the recent low here Managed to take out the recent note in early october. So and we are below the kind of 130 level Which is kind of a big psychological number. So while we remain stealth of the 130 mark It's likely that we could see further losses in the pound versus the US dollar And if you do drift drift lower from here, we could be heading back down towards this area here Which comes to play at one spot 27 85 or perhaps even down as the low as the august low Of one spot 26 61 Any moves to the upside could run to resistance at 130 and a move beyond 130 could then bring the 130 to 50 area into play Take a look now at the euro sterling So broadly speaking euro sterling has has been in decline Between august and early october, but we have seen a decent enough How bounce back since then our now back above the eternity moving average Which comes into play at a zero spot 88 35 and if we hold above that level We could we could it push on higher from here And if you do take out this yellow line here the 100 moving average which comes into play at zero spot 80 Zero spot 88 81 we could be making any backup towards zero spot 89 And if you go beyond that we could be making any up towards the zero spot 90 region If the the wider trend which has been in play for a number of Number of months now does manage to continue in the market turns over on itself again We could be making any back down towards zero spot 88 and a move below that might might bring zero spot Zero spot 87 25 into play Take a look now at the footsie 100 Just to remind you again this video has been recorded on thursday the 25th of october and the time that has just gone 1740 british summer time so some of the prices may or may not may or may or some of the markets may have moved between now And this video could go in live If you take a look at the footsie 100 it's been in a fairly solid aggressive downward trend In in in recent weeks any months So the pressure is very much to the downside, but we are Near in a very important metric. I'm looking here at the weekly chart I'm looking here at this red line here at the 200 week moving average And we can see here the 200 week moving average provided both these decent resistance and support Over the last couple of years And we're not too far away from at the moment at the moment the 200 week moving average comes into play at 69 56 And the current level on the footsie is 6987 so we're not too far away from it for the time being if we were to if we were to break below that that would be Quite a very a very signal and we could see further losses Taking a look at the on the daily chart if you do manage to push on lower from here We could look at retesting the the march low at 68 39 and if you go a bit below that we could look heading back down towards the december There's this low here in december 2016 Which comes to play at 66 78 Any move to the upside may run in may run into resistance at this at a 7 000 and beyond 7 000 Up towards seven thousand one hundred and forty four. Sorry apologies Seven thousand one hundred and fourteen this area here And if you headed north of that we could be looking any back up towards the 7 250 region here We really essentially would need to take out the fifth day moving average which comes into play at 73 34 For about any signs of actually the market actually Becoming confident that the market is going to push on higher We do have a number of other Both corporate and economic announcements next week. So on monday, we have third quarter figures from hsbc on Tuesday We have third quarter italian gdp. We have a third quarter figures from bp third quarter figures from facebook On Tuesday night, we have an apple ipod pro and mac event which is on the tuesday, but we also have Fourth quarter earnings from apple on on thursday the first of november On wednesday, we've quite essentially a raft of manufacturing pmis from countries around the world On wednesday, we also have the bank of japan interest rate decision And as i just said on thursday, we have the bank of england interest rate decision and also inflation report And that's the cover at the top of the webinar. We do have the us non-farm payrolls report on friday And speaking of us non-farm payrolls us non-farm payrolls. We are holding a webinar for that event If you go to the our website cmcmarkets.com and if you go to the learn section you you will find You ever do sign up for the webinars and events and it's located here Webinar second of second of november non-farm payrolls live from 1315 british summer time If you have any comments to make on this video or any of other videos we make here at cmcmarkets Please feel free to leave a review and click reviews. And that's all for me this week. Thank you very much