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Daily Markets Broadcast 2019-07-26

Daily Markets Broadcast


US indices retreat after ECB didn’t cut rates

The SPX500 index touched a record high yesterday but then retreated, echoing weakness across the other indices. The slight pessimism crept in after the ECB chose not to cut rates yesterday.

US30USD Daily Chart


Source: OANDA fxTrade

  • The US30 index fell for a second day yesterday, despite strong economic data and some OK earnings reports
  • The 100-day moving average at 26,215 and the 55-day average at 26,315 continue to track each other higher
  • US economic growth probably slowed to 1.8% y/y in the second quarter, according to the latest survey of economists. That’s a marked slowdown from Q1’s +3.1%.

DE30EUR Daily Chart


Source: OANDA fxTrade

CN50USD Daily Chart


Source: OANDA fxTrade

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 [6]

Senior Market Analyst at MarketPulse [7]
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

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