Daily Markets Broadcast
2019-01-15
Weak China data pushes Wall Street lower
China’s December trade data was weak across the board, souring sentiment across global equity markets yesterday. The US financial sector was buoyed by mixed earnings from Citibank. UK Parliament votes on the Brexit deal today.
US30USD Daily Chart
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The US30 index fell for a second straight day yesterday after weak trade numbers pressured manufacturers
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The 61.8% Fibonacci retracement of December’s drop is at 24,308, while the 55-day moving average has edged lower to 24,398
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US producer prices are expected to echo the decline in consumer prices reported last week. Prices are seen falling 0.1% m/m in December, the first decline in four months.
DE30EUR Daily Chart
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The Germany30 index slid for a second day yesterday, pressured by the China data and today’s UK Brexit vote
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The 55-day moving average at 11,089 continues to cap the index near-term
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Euro-zone trade data for November is due today. It’s expected to show a narrower surplus of E13.7b from E14.0b in October.
UK100GBP Daily Chart
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The UK100 index fell for a second consecutive day yesterday as the uncertainty surrounding today’s UK Brexit vote impacted sentiment
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The index failed to maintain a foothold above the 55-day moving average after closing above it last Thursday. The average is now at 6,924. Momentum indicators emitting bearish signals
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General consensus is that the Brexit deal will be rejected as it stands, unless Europe offers better terms for the Irish border. The vote is scheduled for 7pm GMT.
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