Daily Markets Broadcast 2019-08-26

Daily Markets Broadcast 2019-08-26 - MarketPulseMarketPulse


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Daily Markets Broadcast


Stocks suffer as trade war escalates

US indices fell on Friday after US President Trump hiked existing tariffs on Chinese goods, which was followed by China adding levies on $75 billion worth of US imports.


US30USD Daily Chart

Source: OANDA fxTrade

The US30 index fell the most in nine days on Friday and has extended those losses in early trading this morning

The index touched the lowest since August 15 earlier and looks poised to close below the 200-day moving average at 25,592 for the first time since August 14

US durable goods orders are expected to rise 1.1% in July, a slightly slower pace than June’s +1.9%.


DE30EUR Monthly Chart

Source: OANDA fxTrade

The Germany30 index slumped to the lowest level in 10 days in early trading this morning in response to the US-China trade war escalation

The index looks poised to closed below the 55-month moving average at 11,533 for the first time since January

The German IFO surveys for August are scheduled to be released today, with the expectations index likely falling to 91.5 from 92.2, according to the latest survey of analysts.


WTICOUSD Daily Chart

Source: OANDA fxTrade

Crude oil prices are lower for a fifth consecutive day in early trading this morning as the trade war escalation questions future demand prospects for the commodity

West Texas Intermediate (WTI) is testing the 61.8% Fibonacci retracement of the August 7 to 13 rally at $53.135

Weekly oil inventories data from the American Petroleum Institute are due tomorrow. Last week saw a drawdown of 3.5 million barrels.



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

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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