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Daily Markets Broadcast 2019-11-15

Daily Markets Broadcast 2019-11-15 - MarketPulseMarketPulse

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Daily Markets Broadcast

2019-11-15

Wall Street mixed on lack of trade deal progress

US indices were mixed at yesterday’s close, lacking any follow through at, or near, record levels. Hong Kong unrest worsens with rumours circulating a weekend curfew may be imposed.

 

US30USD Daily Chart

Source: OANDA fxTrade

The US30 index hit a record high yesterday but closed in the red as negotiators struggled to complete the Phase 1 trade deal

The 55-day moving average has risen to 26,949 while trendline support could be found near the 27,250 level

US retail sales are expected to grow 0.2% m/m, the latest survey of economists suggests. That’s a smart turnaround from September’s -0.3% reading.

 

DE30EUR Daily Chart

Source: OANDA fxTrade

The Germany30 index fell for a second consecutive day yesterday despite a better-than-expected reading for Germany’s Q3 GDP growth

The 55-day moving average has risen to 12,540

The German economy expanded 0.1% q/q in Q3, up from -0.1% in Q2 and better than the -0.1% expected by analysts. ECB’s Mersch is scheduled to speak today. There are no major data releases scheduled for today.

 

HK33HKD Daily Chart

Source: OANDA fxTrade

The HongKong33 index fell for fifth consecutive day yesterday, bringing total losses for this stretch to almost 6%

The index has breached 55-day moving average support at 26,575 convincingly as the SAR descends further into chaos. Educational establishments remain closed through the weekend

The final reading for Hong Kong’s Q3 GDP growth is due today. While no change is expected to the prior -3.2% q/q estimate, there is a slight risk it may be downgraded. Q4 is certainly looking poor.

 

 

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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