Daily Markets Broadcast 2019-01-30

Daily Markets Broadcast

2019-01-30

Wall Street ends mixed on Apple optimism

Wall Street indices were mixed yesterday, lifted by an in-line earnings outlook from Apple, though the NAS100 index under-performed as tech stocks were pressured. UK Parliament rejected PM May’s Brexit deal and sent her back to Brussels to renegotiate. US and China begin the next round of trade negotiations.

 

US30USD Daily Chart

Source: OANDA fxTrade

  • The US30 index rallied on Tuesday as steady results from Apple after a turbulent Q4 suggested stability
  • The index remains above the 55-day moving average at 24,227. The convergence of the 100- and 200-day moving averages at 24,954 and 24,975, respectively, act as resistance
  • US FOMC meets later today and is widely expected to keep rates unchanged. Investors will be monitoring the statement for comments about trimming its balance sheet.

 

DE30EUR Daily Chart

Source: OANDA fxTrade

  • The Germany30 index fell for a second straight day yesterday as the UK Brexit deal weighed on sentiment
  • The index is trading between the 55-day moving average support at 11,038 and 100-day moving average resistance at 11,404
  • Euro-zone sentiment indicators for January are likely to show a further deterioration, the latest polls suggest. The economic sentiment indicator is seen sliding to 106.8 from 107.3.

 

WTICOUSD Daily Chart

Source: OANDA fxTrade

  • WTI advanced yesterday as the US imposed a de facto ban on Venezuelan oil
  • Oil prices continue to hold above the 55-day moving average at $51.07. Prices have closed above this average for almost two weeks
  • Oil gained despite another increase in inventories, according to the weekly API data. In the week to January 25, stockpiles grew by 2.1 million barrels, the second weekly addition in a row.

 

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.
Andrew Robinson

Latest posts by Andrew Robinson (see all)