Daily Markets Broadcast
2019-03-12
Wall Street pulled higher by tech sector
Wall Street indices closed higher despite issues at Boeing, as the tech sector pushed the Nas100 index 2% higher. Rumours circulated overnight that UK PM May had secured a “better” Brexit deal from Europe ahead of tonight’s Parliamentary vote.
US30USD Daily Chart
Source: OANDA fxTrade
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The US30 index recovered from early Boeing-led weakness to close higher for the second straight day. The index appears to be continuing the trend in early dealings this morning
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The 200-day moving average at 25,138 remains untouched, supporting prices since February 12
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US consumer prices are expected to rise 0.2% m/m in February from a flat reading the previous month. Fed’s Brainard is scheduled to speak at 1345 GMT.
DE30EUR Daily Chart
Source: OANDA fxTrade
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The Germany30 index snapped a three-day drop yesterday amid more-positive news on Brexit. The index shrugged off weaker-than-expected industrial production data
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The index is edging toward the 200-moving average resistance at 11,812. It has capped prices since August 1
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Germany’s industrial production fell 0.8% m/m in January, a surprise drop with economists anticipating a 0.4% gain. The production numbers echoed weak data from factory orders in the same month. There are no major data releases scheduled today.
UK100GBP Daily Chart
Source: OANDA fxTrade
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The UK100 index fell for a third consecutive day yesterday, despite rumours that PM May has secured an improved Brexit deal from Europe. Tonight’s Parliamentary vote still introduces a huge element of uncertainty and the index is likely to remain under pressure until the outlook is clearer
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The 55-day moving average at 6,985 moved above the 100-day moving average at 6,983 yesterday, the first time since September 4 last year
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As well as the Brexit vote, we see the UK’s production data for January, which has been holding up pretty well, and the trade balance for the same month.
