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Daily Markets Broadcast 2019-10-10

Daily Markets Broadcast

2019-10-10

Stocks start nervously today as trade hopes fade
US indices rose yesterday on hopes China would look through the recent US blacklisting steps and make progress in the trade talks. Those gains have been wiped out in early trading this morning as China damped expectations for a broader deal. EU says they are no closer to a solution to the Irish backstop issue.
US30 USD Daily Chart
[1]

Source: OANDA fxTrade

  • The US30 index rose for the first time in three days yesterday, but those gains proved to be short-lived as trade talk progress failed to materialise
  • The index has tested the 200-day moving average at 25,994 today, but has so far failed to sustain a breach below. It has held on a closing basis since August 14
  • US consumer prices are expected to rise 1.8% y/y in September, a slightly faster pace than August. Fed’s Kashkari and Mester are scheduled to speak later in the day.

 

DE30EUR Daily Chart

[2]

Source: OANDA fxTrade

 

CN50USD Daily Chart

[3]

Source: OANDA fxTrade

 

 

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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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