All Eyes Are on the US Again

Fundamentals

Today, the manufacturing PMI is released in a number of countries. The UK PMI released at 8:30 AM GMT deserves special attention. Those interested in the Russian market should also pay attention to the local PMI figure released at 6 AM GMT. Naturally, traders will be scrutinizing the US manufacturing PMI, which is being released at 2 PM GMT.
No other important macroeconomic indicators are expected.
Note that the Chinese market will be closed for a public holiday today and tomorrow, which will influence the volatility during the Asian session.

Stocks

No earnings reports of interest are released today, except for Russia’s AFK Sistema.
The MICEX Index fell below 2,000 against the strengthening Russian ruble. If this downtrend continues, the new support might be 1,980, where the price might consolidate or even bounce back, forming a double bottom. Still, in terms of Elliott's theory, the 3rd impulse wave may form. The bad news for the bulls is that the index is testing the EMA on the monthly charts, which may signal a long-term trend reversal and reinforce a bearish outlook.
The Dow Jones Industrial Average is flat, while in the short term the MACD is rising on the daily charts. We would advise avoiding active trading and staying on the sidelines for the time being.

Currency Market

The EUR/JPY pair is trading sideways. Our advice to active currency traders is therefore to exercise caution. In the long term, on the 1M chart, the resistance is at 122.11, which is a 38.20% Fibo retracement. Technically, an inverted flag may be forming, although this still needs to be confirmed. In the short term, on the 1D charts, the pair is still trading within a triangle and may end up with an uptick.
The AUD/CAD pair is still forming a double top on the weekly charts. But don’t forget that this pattern will be considered confirmed only if the support at 0.9600 is broken through. The falling MACD and the still rising ADX signal a bearish trend.

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