Key Levels and US Market Review for the Asian session open 8/03

A review of the price action from the European session and the US session. Major indexes took a big hit after Powell suggested that the US Central Bank could raise rates more aggressively than previously expected. The USD reacted sharply higher while US bonds spiked lower. Investors who recently went bargain hunting were now going risk off into the share market.

I remain of the view that sticky inflation is the big issue and will weigh on share markets if the Fed, and other major central banks, can not get it under control.

I look at some key levels to watch and the price action setups I expect to see play out on the major markets below.

Markets covered :-
DOW
Nasdaq
DAX
FTSE
ASX200
Hang Seng
USD Index
Gold
Oil
Copper