The week ahead

Interesting week we have ahead of us! From a techinical standpoint, we have just formed a nice reverse hammer on the weekly chart and last time such a configuration like that presented itself, the market strongly reversed its course... So let's wait and see. Still in that same vein, our non-stationarity model tells us the market maybe needs to catch its breath a bit...

Now from an economical point of view, we have plenty to look at this week. For one, we have the ISM reports at the beginning of the week but we also have the Non-Farm payrolls on Friday! This will be very interesting especially given the actual context of a slowdown in the US. In addition to that, we will also follow the Government's efforts to stem the housing crisis. Lastly, this week the BoC, the ECB and the BoE will release their rate decision... This will be most interesting to follow as the Fed will go live the week after.