Daily Markets Broadcast
2019-04-23
Wall Street mixed ahead of earnings deluge
It was a mixed performance on Wall Street in holiday-thinned trading, with the US30 and SPX500 declining while the NAS100 index eked out small gains. Oil prices surged as Iran sanction waivers are set to end.
US30USD Daily Chart
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The US30 index touched the highest since October 5 yesterday before closing lower
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The index has stalled ahead of the October high of 26,940. The rising 55-day moving average support is at 25,873 today
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US existing home sales were soft in March, falling 4.9% m/m, more than the -2.3% expected. Today we see new home sales for last month and, if they are as weak as the existing home sales, it could add pressure on Wall Street.
DE30EUR Daily Chart
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The Germany30 index ignored weaker flash PMI readings and extended its recent rally to a seventh day on Thursday. Markets were closed yesterday for Easter Monday
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The index touched the highest since October 4 on Thursday. The 78.6% Fibonacci retracement of the May-December drop is at 12,581
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Germany’s March Markit flash manufacturing PMI rose to 44.5 from 44.1 but missed forecasts of a climb to 45.0. Consumer confidence is seen barely changed in April at -7.1 from -7.2 the previous month.
WTICOUSD Daily Chart
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WTI surged more than 2.5% yesterday, posting the biggest one-day gain since January 9, after US President Trump announced that the sanctions waivers granted to eight oil-importing countries would not be renewed when they expire next month
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Prices touched the highest since October 31 yesterday.The 78.6% Fibonacci retracement of the October-December drop is at $69.75
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API releases its weekly crude inventories data as at April 19 today. Last week saw a drawdown of 3.1 million barrels, the first decrease in three weeks.
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