Daily Markets Broadcast 2019-11-12

Daily Markets Broadcast

2019-11-12

Wall Street recoups early losses

In slow, holiday-affected trading yesterday, US indices felt early pressure and it was only the US30 index that recovered to close in the black after Boeing shares soared on 737MAX news. Hong Kong protests continue to escalate. US President Trump is scheduled to speak today.

 

US30USD Daily Chart

Source: OANDA fxTrade

  • The US30 index has edged lower in early trading after recovering from losses of as much as 0.6% early yesterday
  • The index is hovering below record highs with the 55-day moving average rising to 26,866
  • There are a few Fed speakers today to accompany US President Trump. Clarida, Barkin, Harper and Kashkari are all on tap throughout the US session. There are no major data releases scheduled today.

 

DE30EUR Daily Chart

Source: OANDA fxTrade

  • The Germany30 index fell for a second day yesterday amid a broader malaise across equity markets
  • The 55-day moving average has advanced to 12,459
  • The German ZEW survey for November is expected to show an improvement in the economic sentiment index to -13.0 from -22.3 while the current situation index is seen rising to -22.0 from-25.3, according to the latest survey of economists.

 

WTICOUSD Daily Chart

Source: OANDA fxTrade

  • West Texas Intermediate (WTI) looks set to fall for a second straight day today as global growth concerns persist
  • WTI appears to be rejecting the 200-day moving average at $57.28 for now having closed above it last Friday. The 50% retracement of the September-October drop at $57.22 also seems to be a major hurdle to the upside
  • Weekly stockpiles data to November 8 from the American Petroleum Institute are due tomorrow. Last week saw an increase of 4.26 million barrels.

 

 

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.
Andrew Robinson

Latest posts by Andrew Robinson (see all)