Daily Markets Broadcast 2020-01-31

Daily Markets Broadcast

2020-01-31

Wall Street boosted by Amazon, WHO declaration

US indices recouped early losses to close higher yesterday following strong results from Amazon. News that the WHO had declared the coronavirus a global health emergency but stopped short of recommending travel bans, also helped sentiment. China reports January PMI data while Britain leaves the EU today.

 

US30USD Daily Chart

Source: OANDA fxTrade

  • The US30 finished strongly yesterday after upbeat earnings reports from Amazon lifted other indices
  • The 55-day moving average support at 28,439 remains intact and has supported prices since October 10
  • Personal income and spending probably both rose 0.3% m/m in December, according to the latest survey of economists. The Chicago PMI for January is expected to rise to 48.8 from 48.2.

 

DE30EUR Daily Chart

Source: OANDA fxTrade

  • The Germany30 index closed in the red yesterday, echoing the weak sentiment seen in Asia
  • The index closed below the 55-day moving average for the second time this week. The 100-day moving average is below at 12,951
  • The Euro-zone economy probably expanded 0.2% q/q in the fourth quarter. That’s the same pace as Q3.

 

HK33HKD Daily Chart

Source: OANDA fxTrade

  • The HongKong33 index tumbled for a second day yesterday, bringing total losses for the two days since returning from the Lunar New Year holidays to 5.4%
  • The index looks on track to test the December low of 25,899, which was the lowest level since October 10
  • The death toll from the coronavirus in China has risen to 213 with confirmed cases at 9,692. Numerous Chinese provinces have delayed the return to work after the Lunar New Year holidays for another week.

 

 

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.