Daily Markets Broadcast 2019-04-18

Daily Markets Broadcast

2019-04-18

The Daily Market Broadcast will pause on 19 Apr 2019 and resume on 22 Apr 2019

Wall Street struggles to make further headway

Despite strong Q1 growth data from China and strong earnings reports from the transport sector, US indices struggled to post additional gains, with only the NAS100 index moving higher. The Australian jobs report is due today.

 

US30USD Daily Chart

Source: OANDA fxTrade

  • The US30 index gave back early gains to close little changed yesterday after failing to push above Tuesday’s six-month high
  • The rising 55-day moving average support is at 25,820 today
  • US retail sales are expected to grow 0.9% m/m in March, according to the latest survey. That would be the fastest increase since September 2017.

 

DE30EUR Daily Chart

Source: OANDA fxTrade

  • The Germany30 index rallied for a sixth consecutive day yesterday, assisted by the better performance by the Chinese economy
  • The index touched the highest since October 5 and is now comfortably above the 61.8% Fibonacci retracement level of the May-December drop at 12,089. The 78.6% retracement is at 12,581
  • Germany’s Markit flash manufacturing PMI is seen rising to 45.0 in April from 44.1 in March. The services PMI is expected to slip to 55.1 from 55.4.

 

AU200AUD Daily Chart

Source: OANDA fxTrade

  • The Australia200 index climbed to the highest since September 4 in early trading this morning ahead of the March employment report
  • The index could be facing tough resistance above 6,300, with three recent highs failing to close above the level
  • The Australian economy probably added 12,000 jobs in March, according to the latest survey. The unemployment rate is expected to tick higher to 5.0% from 4.9%.

 

 

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.