Daily Markets Broadcast
2019-10-25
Wall Street mixed on slowdown fears
Most US indices finished lower yesterday as corporate earnings continue to be a hit and miss affair and data was a little disappointing. British PM Boris Johnson tested the waters for a snap December election while the announcement from the EU on how long the Brexit extension will be is due today. Oil prices extended recent gains.
US30USD Daily Chart
-
The US30 index failed to make any further headway yesterday and is almost back at starting levels for the week
-
The 100-day moving average support is at 26,612 and has supported prices on a closing basis since October 10
-
US durable goods orders fell 1.1% in September, a deeper drop than the -0.8% analysts had expected. US data releases today are limited to the October Michigan sentiment index, which is seen unchanged at 96.
DE30EUR Daily Chart
-
The Germany30 index powered upward to hit the highest since August last year yesterday, despite the increasing possibility of a December election in the UK
-
The index is facing its third weekly gain in a row, which hasn’t happened since August/September. The 100-day moving average is at 12,207
-
German consumer confidence is expected to dip marginally to 9.8 in November from 9.9 this month, according to the reading from Gfk. IFO’s October survey of business expectations is seen rising to 91.0 from 90.8.
WTICOUSD Daily Chart
-
West Texas Intermediate climbed to the highest this month yesterday amid concerns over supply cuts from OPEC+
-
WTI is rising toward the 200-day moving average, which is at $57.12 today. That moving average has capped prices since September 27
-
Reports have been circulating this week that OPEC+ intends to introduce further production cuts at its December meeting in order to prop up the oil price. The meeting is scheduled for December 5 in Vienna.
** Please Note: The Daily Market Broadcast will pause on 28 Oct 2019 and resumes on 29 Oct 2019 **
Content 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 Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.