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Daily Markets Broadcast 2019-11-18

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Daily Markets Broadcast

2019-11-18

Trade hopes boost Wall Street
Upbeat comments on the progress in the US-China Phase 1 trade negotiations lifted US indices to record levels on Friday. Hong Kong protests intensify as police move to clear protesters from a university.
US30USD Daily Chart

Source: OANDA fxTrade

  • The US30 index hit a record high on Friday but has opened in the red this morning
  • The 55-day moving average has risen to 26,984 while trendline support could be found near the 27,250 level
  • US press report that US President Trump is considering a 2-week extension to licenses that allow US companies to use Huawei equipment. There are no major data releases scheduled for today.

 

DE30EUR Daily Chart

Source: OANDA fxTrade

  • The Germany30 index snapped a two-day losing streak on Friday as the mood on Wall Street helped sentiment
  • The 55-day moving average has risen to 12,563
  • ECB’s Visco said Friday there is a need to continue with unconventional measures to bring up inflation. There are no major data releases scheduled for today but we can expect speeches from ECB’s De Guindos and Lane.

 

WTICOUSD Daily Chart

Source: OANDA fxTrade

  • West Texas Intermediate (WTI) recouped all of Thursday’s losses, and more, on Friday as hopes for a trade deal surged
  • Prices touched the highest since September 24 on Friday but have opened slightly lower at the start of this week’s trading. The 55-day moving average is at $55.77 and has supported prices so far this month
  • A higher-than-forecast stockpiles reading on Thursday hit prices. The next data set comes tomorrow, with the API data to November 15 due. Last week saw a drop of 500,000 barrels.

 

 

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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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