Daily Markets Broadcast 2019-12-10

Source: OANDA fxTrade

• The US30 index retreated for the first time in four days as investors took a breather to re-evaluate direction
• The index remains above the convergence area of the 55-day moving average at 27,270 and trendline support around the 27,205 level
• US third quarter nonfarm productivity is expected to decline 0.1%, a slower pace than the -0.3% recorded in Q2.

DE30EUR Daily Chart

Source: OANDA fxTrade

• The Germany30 index gave back all of Friday’s gains yesterday on a lack of fresh inputs and weakness on Wall Street
• The index is still above the 55-day moving average at 12,840, and has been since October 10
• ZEW surveys for December for both Germany and the Euro-zone are due today. German economic sentiment is seen rising to zero from -2.1 while the Euro-zone’s reading is expected to deteriorate to -17.0 from -1.0.

UK100GBP Daily Chart

Source: OANDA fxTrade

• UK shares were steady on Monday after posting the biggest weekly loss in nine weeks last week. A firmer pound prevented more extreme gains as the latest poll showed the Conservatives increasing its lead over Labour by two percentage points
• The UK100 index has been below the 55-day moving average, which closed at 7,281 yesterday, for a week
• UK industrial production is seen rising 0.2% m/m in October, a swing from September’s 0.3% contraction. The goods trade deficit probably narrowed to £11.65 billion from £12.54 billion, the latest survey of economists suggests.