Daily Markets Broadcast 2019-11-19

Daily Markets Broadcast


US indices edge higher

They say no news is good news and at the moment this appears to be true regarding the US-China trade negotiations. Wall Street edged higher yesterday, touching fresh record highs, despite no news of progress. Hong Kong is facing a standoff between police and students at a university. The UK appears to be favouring Boris Johnson in the run-up to the December election.


US30USD Daily Chart

Source: OANDA fxTrade

  • The US30 index touched a new record high yesterday but has opened in the red this morning
  • The 55-day moving average has risen to 27,020 while trendline support could be found near the 27,245 level
  • US housing starts and building permits data for October are due today, with starts probably rising 0.6% after a 9.4% decline in September.


DE30EUR Daily Chart

Source: OANDA fxTrade

  • The Germany30 index remains stuck in a narrow band that has been in place for almost two weeks
  • The 55-day moving average has risen to 12,609. The 23.6% Fibonacci retracement of the rally from October 3 to November 12 is at 12,960
  • The German Bundesbank’s monthly report warned that Q4 growth could stagnate, but with only a slight risk of a prolonged recession. (Note: The first estimate of Q3 growth was +0.1% q/q). There are no major data releases scheduled for today.


CN50USD Daily Chart

Source: OANDA fxTrade

  • The China50 index is struggling for traction despite a positive outlook for a trade deal as the ongoing Hong Kong unrest and the rising threat of violent intervention caps risk appetite
  • The index is sitting on the 55-day moving average at 13,883, which has supported prices on a closing basis since October 8
  • The Hong Kong government has ordered schools and colleges to be closed for a sixth day and has cautioned that District Council elections scheduled for this Sunday may be cancelled.



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

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