Daily Markets Broadcast 2018-11-15

Daily Markets Broadcast

2018-11-15

Wall Street extends decline

Wall Street extended its decline to a fourth day on continued weakness for Apple, while Brexit headlines also introduced uncertainty. Oil managed its first positive day in thirteen days. Australia added the most full-time jobs since February last month.

US30USD Daily Chart

Source: OANDA fxTrade

  • The US30 index fell for a fourth straight day yesterday with continued weakness in the tech sector
  • The index has yet failed to penetrate the 61.8% Fibonacci retracement support level of the Oct29 to Nov8 rally at 24,900
  • US October CPI data was bang in line with expectations. Today we see retail sales, which are expected to rebound to +0.5% m/m following a 0.1% decline in September.

DE30EUR Daily Chart

Source: OANDA fxTrade

  • The Germany30 index was steady yesterday, unfazed by Brexit deal news as there still remain a lot of uncertainties
  • The 55-day moving average at 11,863 would act as the first upward resistance point
  • EU says it has received Italy’s official budget plan for 2019. Will respond on November 21.

AU200AUD Weekly Chart

Source: OANDA fxTrade

  • The Australia200 index is hovering near lows of the month, showing little response to a very strong jobs report for October
  • The 200-week moving average at 5,644 supported prices at the last test, and may do so again this time
  • Australia added net 32,800 jobs in October, with an increase of 42,300 full-time jobs and a loss of 9,500 part-time ones. That’s the biggest full-time jobs addition since February.

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Andrew Robinson

Andrew Robinson

Senior Market Analyst at MarketPulse
A seasoned professional with more than 30 years’ experience in foreign exchange, interest rates and commodities, Andrew Robinson is a senior market analyst with OANDA, responsible for providing timely and relevant market commentary and live market analysis throughout the Asia-Pacific region. Having previously worked in Europe, since moving to Singapore he worked with several leading institutions including Bloomberg, Saxo Capital Markets and Informa Global Markets, proving FX strategies based on a combination of technical and fundamental analysis as well as market flow information. Andrew began his career as an FX dealer with NatWest and the Royal Bank of Scotland in the UK.