Even as markets brace for the highly-anticipated US jobs report due later today (Friday, March 10th), the prudent investor/trader will already be keeping an eye on what’s to come:
 

Sunday, March 12

The past few days have been rough for the S&P 500.

But such a bullish technical signal may be well and truly lost amid the onslaught of macro events that are set to dictate how global financial markets fare the rest of this month.

What is a “golden cross”?

A golden cross is when the asset’s 50-day simple moving average (SMA) crosses above its 200-day SMA.

The next few days could be wild and incredibly volatile for financial markets thanks to key central banks meetings, a semi-annual Congress appearance from Jerome Powell, and the latest US jobs data.

After securing its best week since mid-January, could gold prices be gearing up for more upside?

The FX world could see some heightened volatility if the US Dollar receives a double boost, along with any surprises out of G10 central banks in action over the coming week:

Monday, March 6

Global equity markets flashed red on Thursday as rate hike fears soured the market mood and left investors on edge.

European shares fell this morning thanks to hot Eurozone inflation figures while US futures pointed to further losses amid concerns over more rate hikes. In the currency space, the dollar rebounded – drawing strength from rising Treasury yields. It was a choppy affair for gold, but prices seem to be recovering with $1825 acting as a key level of interest.

In our latest Week Ahead article (posted on Fridays), we offered 3 reasons why EURUSD could see a rebound this week.

Asian shares were a mixed bag on Tuesday as fears over rising U.S. interest rates hit overall sentiment in the region. European futures are pointing to a positive open this morning, tracking the modest gains on Wall Street overnight. However, a sense of caution continues to linger across financial markets as concerns over further interest rate hikes cap risk appetite. In the FX space, the dollar stabilised during earlier trade appreciating against every single G10 currency.

The past few weeks have certainly not been kind to the Australian Dollar.

It has weakened against every single G10 currency in February despite the Reserve Bank of Australia's (RBA) hawkish outlook. At the start of the month, the central bank raised its cash rate by 25bp to 3.35%, which was the highest level in over 10 years. However, the Aussie struggled to find traction – shedding roughly 5% against the dollar month-to-date. Prices are currently wobbling above key support at 0.6700 as of writing.