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Weekly Outlook | Impact Of War Rising – Stocks At Risk
Updated Updated Mon, 2026 March 9 03:07
The general risk sentiment in markets continued to remain positive throughout last week. While markets were trading lower during Asian and European trading, markets geared up steam mostly during the US trading session. This was at least true until Friday, when the selling pressure increased and markets closed lower. The S&P 500 closed below the technical support zone of 6,750 while the Dow Jones index is falling below the rising trendline.
Due to the growing uncertainty in markets the oil price keeps rising. USOIL is trading above USD 90.00, which marks the highest price since September 2023. The chance, that the supply of oil will continue to remain disrupted for longer drives prices higher.
Gold prices, on the other hand, have been falling slightly. This oftentimes happens, while traders get out of positions at the beginning of a correction in equities in order to use free margin for positions in stocks.
Important events this week:
– CA employment change– the employment report will offer more guidance into the development of the Canadian Dollar. A higher reading generally weakens the Loonie, while a lower number might boost the Dollar. It is expected that the unemployment rate will rise slightly from 6.5% to 6.6%. Yet, a positive surprise might support the CAD, which has been gearing up steam on the back of rising oil prices. Especially the EURCAD currency pair remains in focus, as the Euro lost some of its recent momentum.
EURCAD weekly chart
As per our previous expectations the market has finally been able to break the technical support zone of 1.6100. The break of the 50- moving average trendline added further selling pressure. Any correction to the upside might be used to sell the market again at a higher price. Oil prices are projected to continue with their strength and hence the positive trend of the CAD might continue. The unemployment rate from Canada will be released on Friday, 13th March at 13:30 CET
– US Core PCE Price index– The core pce price index is important to determine the further development of interest rates in the US. Weaker prices support the Federal Reserve in cutting rates. Last week’s fall in employment might support this view. The NFP report came out negative and hence the Greenback has been losing momentum.
GBPUSD daily chart
Based on the charting pattern above the GBP might be able to gear up momentum now. The price stabilized on top of the technical support zone of 1.3350 and might hence continue to rise. The 50- moving average zone might act as a potential target at around 1.3530. If the data comes out negative the renewed rise in prices might hence follow. The core pce price index will be released on Friday, 13th March at 13:30 CET