Daily Markets Broadcast 2019-11-27

Daily Markets Broadcast


Wall Street creeps to record levels

News that top negotiators had been in phone contact and were close to sealing the Phase 1 trade deal lifted US indices marginally to fresh record highs. UK Conservative Party lead narrows in latest polls. RBA’s Lowe rules out QE for now.


US30USD Daily Chart

Source: OANDA fxTrade

  • The US30 index advanced for a third straight day yesterday, reaching a fresh record high. It has opened flat this morning
  • The 55-day moving average has risen to 27,144 while trendline support could be found near the 27,240 level
  • The US economy is expected to maintain its expansion rate of 1.9% annualized in Q3, the latest survey of economists shows. Other data releases today include personal income/spending and durable goods orders for October along with pending home sales.


DE30EUR Daily Chart

Source: OANDA fxTrade

  • The Germany30 index closed lower yesterday for the first time in four days but has rebounded in early trading this morning
  • The 55-day moving average has risen to 12,719. The 23.6% Fibonacci retracement of the rally from October 3 to November 12 is at 12,960
  • There’s not much on the data slate today apart from German import prices for October (expected down 0.2% m/m) and a speech from ECB’s Lane.


XAU/USD Daily Chart

Source: OANDA fxTrade

  • Gold prices have been under pressure recently as we (hopefully) near the conclusion of a Phase 1 US-China trade deal. Gold rose yesterday for the first time in five days as the US dollar weakened
  • Gold has been trading within a downtrend channel since September 4. The 100-day moving average is at 1,483.96
  • The US Treasury confirmed yesterday that a phone call took place between negotiators Lighthizer and Liu He where they reached consensus on solving issues in the Phase 1 agreement. There has been no confirmation yet from China.



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)