 Good morning. Welcome to CMC markets on Friday the 23rd of March and this quick look at the week ahead The 26th of March, and I think events for the coming week are going to be likely overshadowed By the events of this week namely the escalation between the United States and China and The trade dispute currently playing out between the two now Currently as it stands as I record this video. We have had President Trump and out $60 billion worth of tariffs on Chinese trade and investment and they will be 25 percent tariffs China has Inevitably pushed back on that But I think what struck me by their response has been the fact that they really only pushed back to the tune of three billion dollars So that would suggest to me that ultimately while They are concerned about this escalation. They still see room for Maneuver and still see room for negotiation And I think one of the criticisms that has been levelled at the United States has been the fact that ultimately while they know What they don't like they haven't really stated what they want from China They've asked China for solutions without really I think outlining What they're totally unhappy with so We've seen a massive decline in equity markets this morning what and and this week and What struck me? I think more than anything else is the fact that While equity markets have taken the strain of this increase in trade tensions Currently markets haven't as yet And the dollar index is still pretty much off the lows that we saw in the wake of the February route in stock markets and while some indices have Have performed worse than others namely the FTSE 100 which has taken out its February lows The European indices still remain above their February lows Notably the German decks which we're looking at right now and we can see on this chart here It's a daily chart candle chart currently trading above the 11,850 level We do appear to be on the cusp of rolling over but this This series of lows between 11,690 and 11,850 I think are very very important levels in the wider scheme of things We have posted a death cross where the 50-day moving average is crossed below the 200-day moving average We've also seen similar patterns play out on the other main benchmark indices here in Europe What we haven't seen is the play out in the US and I think if we look at say for example The FTSE 100 which has borne the brunt of the sell-off Over the course of the past few weeks we can see that we've moved well below the 7000 level we're now below The 6900 level but we are closing in on a very very key support level in the form of the 200-week moving average If we look at this chart here In particular we can see that over the course of the last few years the 200-week moving average Has acted as a very decent area of support For a number of declines while the market has been above it So that suggests to me that it is likely to play a key role In the event that the FTSE 100 goes down there and retests it And that particular level we can see that on this chart here It's around about the 6800 area just about 6800 and 356840 So worth keeping an eye out for that particular index the 200-week moving average This is a daily chart we can see here that We've posted a significant number of days of declines here So there is there is a it is not inconceivable we could see a little bit of profit-taking in and around these sorts of levels So that's sort of the overview of where we are at the moment and the key support levels For the key benchmark indices. Let's have a quick look at the s and p 500 To to give the us angle and we can see here That again we're above the February lows and once again There's potential that we could close in on the 200 day moving average Which held on the downside in February and that comes in just below 2600 around about 2590 there or thereabouts Okay, so Looking ahead as we head into easter. We've got a four-day week next week We've had the Federal Reserve meeting this week in the Bank of England outlook And it's clear to me that central bankers Want to keep the prospect of further tightening further rate rises on the table We saw that this week's Bank of England meeting with two dissenters to the decision to keep rates unchanged And we also saw that with the Federal Reserve where the dot plot charts for 2019 We're predicting an additional rate rise in 2019 while keeping the prospect of three rate rises in 2018 Unchanged certainly hasn't affected the dollar the dollar has still remained under pressure But what is significant is that? Despite the dollar remaining under pressure most of the strain has come in the form of the dolly n Chart whereby we've broken below those lows that we saw in february Around about 105 20 so I think unless Unless we run the risk of a further move lower to around about 103 104 30 and then 103 We need to get back above 105 40 105 50 to stabilize on dolly n and now that we are below that The key things that I'm keeping out for this week. We're fairly light in the coming week. It will fairly light on data It's us fourth quarter gdp the final numbers there And uk fourth quarter gdp as well We're expecting an around about a figure in the region of around about 1.4 per cent annualized for us GDP uk gdp similar sort of annualized numbers around about 1.7 1.8 as well and on a quarterly basis We're looking at around about 0.3 or 0.4 on the earnings front again. It's a fairly light calendar We've got four year results for labrox coral group on the 27th of march with recent publicity about a crackdown on betting terminals Wang on the share price of that particular sector labrox coral has by and large been fairly immune to that because of its large sport spitting business And the fact is that the regulator has suggested that the But there there should be a watering down of proposals on fixed odd betting terminals So that may well give the numbers there a decent lift We've also got aj ag bar for your earnings makers of iron brew On the 27th we've got monsanto second quarter the eu appears to have given the green light to Um That particular tie up with germany's buyer now it needs to get past us regulators So there's still an awful lot of uncertainty there, and then we've also got wargreens boots second quarter earnings On the 28th So that's it for today. Um And this week, um, thanks very much for listening the spike of use and talking to you from cmc markets