Daily Markets Broadcast 2020-01-21

Daily Markets Broadcast


US indices steady in holiday-thinned trade

US indices held near record levels in low-volumed activity yesterday due to a US public holiday. US and France agreed to a tariff truce in their digital tax war. Wuhan reports fourth death from corona virus.


US30USD Daily Chart

Source: OANDA fxTrade

  • The US30 index traded in narrow ranges yesterday, with interest damped by the Martin Luther King holiday
  • The 55-day moving average, which has supported prices since October 10, has moved up to 28,250
  • The US Senate debates on the next stage of the Trump impeachment hearings later today. There are no major US data releases scheduled for today.


DE30EUR Daily Chart

Source: OANDA fxTrade

  • The Germany30 index advanced for a third day yesterday following the good news that the US and France had declared a tariff truce on digital taxes
  • The index hit the highest since January 2018 and is above the 55-day moving average at 13,245, which has supported prices on a closing basis since October 8
  • The German ZEW survey for January is expected to show improvement, with the economic sentiment index rising to 15.0 from 10.7 in December.


JP225USD Daily Chart

Source: OANDA fxTrade

  • The Japan225 index is consolidating near five-week highs ahead of today’s Bank of Japan interest rate meeting
  • The 55-day moving average is at 25,382 and the index has been above it since January 8
  • The Bank of Japan is widely expected to keep both interest rates and its asset buying program unchanged at today’s meeting. Of more interest could be the Q4 outlook report, which may reflect the more positive views seen elsewhere.



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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