Daily Markets Broadcast
2019-04-17
Wall Street rebounds on earnings
US indices rallied yesterday with some better-than-expected earnings driving the move. The US30 index hit six-month highs while the NAS100 index came within a whisker of its record high. China’s Q1 GDP growth data are due today which will determine near-term direction.
US30USD Daily Chart
Source: OANDA fxTrade
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The US30 index touched the highest since October 9 yesterday, as strength in the financial sector overcame weakness in the healthcare sector
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The rising 55-day moving average support is at 25,795 today
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The US trade deficit is seen widening to $53.7 billion in February from $51.1 billion the previous month.
DE30EUR Daily Chart
Source: OANDA fxTrade
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The Germany30 index extended its recent gains to a fifth day yesterday and early trading this morning has seen it climbing further
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The index touched the highest since October 8 yesterday and is testing the 61.8% Fibonacci retracement level of the May-December drop at 12,089
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Euro-zone consumer prices are seen spiking 1.0% higher from a month earlier in March following a 0.3% gain in February. That would be the highest in a year.
CN50USD Daily Chart
Source: OANDA fxTrade
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China shares surged the most since February 25 yesterday amid rising expectations for strong growth numbers in Q1
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The index touched the highest since February 7, 2018 yesterday. The 78.6% Fibonacci retracement of the January 2018-January 2019 drop is at 13,917
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The Chinese economy is seen expanding 6.3% y/y in Q1, a slower pace than the 6.4% recorded in Q4. A better-than-expected number could encourage risk appetite and drive indices higher.
