Daily Markets Broadcast 2019-03-18

Daily Markets Broadcast

2019-03-18

Wall Street rises but US30 index lags

Wall Street indices climbed Friday, though the US30 index continued to be pressured by Boeing shares. The Nas100 index had its best week since November. European shares advanced after all the UK parliamentary Brexit votes had been completed.

NAS100USD Daily Chart

Source: OANDA fxTrade

• The Nas100 index posted its biggest weekly gain since the end of November last week, climbing to the highest since October 17 on Friday
• The index closed above the 78.6% Fibonacci retracement of the October-December drop at 7,295.7 on Friday
• The US data calendar is almost blank today, with only the NAHB housing market index scheduled. That’s seen rising to 63 in March from 62 last month.

DE30EUR Daily Chart

Source: OANDA fxTrade

• The Germany30 index touched a five-month high on Friday once all the Brexit parliamentary votes had been concluded in the UK
• The index is rising toward the 200-day moving average at 11,790, which hasn’t been breached since August 1. The 55-day moving average is above the 100-day average for the first time since August 15
• The Euro-zone trade balance is expected to show a narrower surplus of EUR13.2 billion on a seasonally-adjusted basis in January, according to the latest surveys. December’s surplus was EUR15.6 billion.

UK100GBP Daily Chart

Source: OANDA fxTrade

• The UK100 index rose to its highest since February 21 on Friday, encouraged after the 3-days of Brexit votes had been concluded
• The index is testing the 200-day moving average at 7,250, which has been left untouched since October 4
• Rightmove UK house price index fell 0.8% y/y in March, according to data released this morning. They were up 0.2% y/y in February.

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