Daily Markets Broadcast 2019-11-04

Daily Markets Broadcast

2019-11-04

Wall Street encouraged by strong jobs data

US indices rose Friday after data showed the US economy added more jobs than expected in October though the index for factory activity came in below forecast. It’s a holiday in Japan today so activity and liquidity may be affected.

 

US30USD Daily Chart

Source: OANDA fxTrade

  • The US30 index has extended Friday’s gains in early trading this morning, reaching the highest since July 25
  • The 55-day moving average is above the 100-day moving average at 26,676 for the first time since October 11
  • The US economy added 128,000 jobs in October, more than the 89,000 expected while September’s numbers were revised higher. The unemployment rate rose to 3.6% from 3.5%, as expected. Today’s data includes September factory orders, which are expected to fall 0.3% m/m, a bigger drop than August’s -0.1%.

 

DE30EUR Daily Chart

Source: OANDA fxTrade

  • The Germany30 index rose the most in nine days on Friday, rising to the highest in 4-1/2 months as the strong performance on wall Street boosted sentiment
  • The 55-day moving average has climbed to 12,293 while the 100-day moving average is at 12,248
  • The final Markit manufacturing PMI readings for both Germany and the Euro-zone are on tap today. Provisional readings were 41.9 and 45.7 respectively.

 

AU200AUD Daily Chart

Source: OANDA fxTrade

  • The AU200 index rallied for the first time of the week on Friday amid a better risk appetite across global equities. The index has slid back this morning after retail sales growth slowed
  • The index rebounded off 55-day moving average support at 6,627. That moving average has supported prices since October 11
  • Australia’s retail sales advanced 0.2% m/m in September, as expected but a slower pace than August’s +0.4%.

 

 

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.