Daily Markets Broadcast 2018-12-14

Daily Markets Broadcast


The Daily Market Broadcast is paused from 17 Dec 2018 and will resume on 7 Jan 2019.

Wall Street ends mixed, trades sideways

US indices closed mixed yesterday, giving back some early gains, as uncertainties surrounding trade wars and global growth remain. ECB downgrades growth forecasts, while Theresa May continues to work on Brexit.


US30USD Weekly Chart

Source: OANDA fxTrade

  • The US30 index rallied for a second day yesterday and has started positively today
  • The 100-week moving average at 23,479 remains untested since November 2016
  • Growth in retail sales is expected to slow to +0.2% m/m in November, sharply lower than the +0.8% seen in October. The December Markit manufacturing PMI is expected to tick higher to 55.4 from 55.3


DE30EUR Daily Chart

Source: OANDA fxTrade

  • The Germany30 index snapped a three-day rising streak yesterday, closing marginally in the red as ECB’s Draghi announced a downgrade to EU growth prospects
  • The 55-day moving average is at 11,430. This average has capped prices on a closing basis since August 29
  • Euro-zone December Markit manufacturing PMI is expected to edge higher to 52.0 from 51.8 the previous month. A bigger jump could help to stall the index’s slide.


UK100GBP Daily Chart

Source: OANDA fxTrade

  • UK shares fell for the first time in four days yesterday, closing almost flat on the day, as PM May was in Brussels seeking assurances at the EU Brexit summit regarding the Irish border
  • The 55-day moving average at 7,066 continues to cap the index, as it has done on a closing basis since August 10
  • UK press is reporting that certain senior Conservative lawmakers are attempting to persuade PM May to resign next Spring.


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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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