Markets shift focus to key economic indicators amid uncertainty

$E-mini S&P 500 Futures(DEC4) (ESmain.US)$ (4 Hour Chart) -[BULLISH↗ *]Price has pushed down to test 5810 support level last night. We turn slightly bullish as we expect price to drift towards 5865 resistance level. Technical indicators have yet to display a bullish momentum.

$USD (USDindex.FX)$ (4 Hour Chart) -[BEARISH ↘ *]Price has pushed above 104.437 resistance level and is currently hovering around the resistance level. We turn bearish as we expect the price to drop towards 103.881 support level. Technical indicators have yet to indicate a bearish scenario.

$Gold Futures(DEC4) (GCmain.US)$ (4 Hour Chart) -[BULLISH↗ *]We turn bullish as price drifted towards 2730 support level. Price is currently holding above ascending trendline support and we expect price to drift towards 2765 resistance level. Technical indicators are mixed, with MACD showing a bullish momentum.

$Nikkei 225 (.N225.JP)$ (4 Hour Chart) -[BULLISH↗ *]As expected, price drifted down towards 37770 support level. We turn bullish as we expect price to push towards 38770 resistance level. Technical indicators have yet to indicate bullish momentum.

$HSI Futures(NOV4) (HSImain.HK)$ (4 Hour Chart) -[BEARISH ↘ *]We turn bearish as price drifted towards 20920 resistance level before dropping. We expect price to drop towards 20280 support level. A 4 hour candlestick closing below 20820 support would open drop towards next support at 19870. Technical indicators are leaning towards a bearish momentum.

$FTSE Singapore Straits Time Index (.STI.SG)$ (4 Hour Chart) -[BULLISH↗ **]We turn bullish as long as price holds above 3570 support level. We expect price to drift towards 3640 resistance level. A 4 hour candlestick closing above 3640 resistance level would open next push towards 3700 resistance level. Technical indicators are leaning towards a bullish scenario as well.

US markets closed lower last night, with $E-mini S&P 500 Futures(DEC4) (ESmain.US)$ and $E-mini NASDAQ 100 Futures(DEC4) (NQmain.US)$ dropping by 0.93% and 1.57% respectively. There is continued risk-off sentiment among traders after underperforming existing home sales and earning reports which came below expectations. $Enphase Energy (ENPH.US)$ dropped the most by 14.92% after earning reports falling short of analyst expectations. There are multiple economic indicators released tonight, and traders should look out for these: initial jobless claims, global US manufacturing PMI, global services PMI and new home sales.

Asian markets open mixed today. $Nikkei 225 (.N225.JP)$ pushed up the most by 0.63%, after weakening of JPY. However, traders are exercising caution ahead of Japan's general election this weekend. Traders should look out for CPI data released tomorrow morning. $HSI Futures(NOV4) (HSImain.HK)$ drifted lower by 0.92% this morning. This comes after IMF reducing China's growth outlook and warns of the worsening state of China's property. IMF also noted potential risks to the government stimulus PBoC has been injecting, warning of a possible strain on public finances and could harm trade relations with China's trading partners. $FTSE Singapore Straits Time Index (.STI.SG)$ edged up by 0.44%, after CPI results came above analyst expectations. Among the stocks, $Keppel (BN4.SG)$ pushed up the most by 2.19%.

For full disclaimers, please visit https://www.moomoo.com/sg/support/topic5_935.