wait a moment

Daily Markets Broadcast 2018-12-04

Daily Markets Broadcast


Wall Street’s G-20 rally stalls

US indices closed higher yesterday, but well of the intra-day peaks. White House economic adviser Kudlow clarified that the 90-day truce starts on January 1. RBA is expected to keep rates at record lows at today’s meeting.

US30USD Daily Chart

Source: OANDA fxTrade

  • Upside momentum in the US30 index waned as the day progressed yesterday. US futures are in the red this morning, possibly the first down-day in seven days
  • The index remains above the 100- and 55-day moving averages at 25,615 and at 25,582, respectively
  • Sentiment indicators populate the data calendar today in the form of the ISM-NY business conditions index and the IBD/TIPP economic optimism index. FOMC member Williams is also scheduled to speak.

DE30EUR Daily Chart

Source: OANDA fxTrade

  • The Germany30 index rose for the first time in three days yesterday amid better sentiment on Wall Street and better news on the Italian budget situation
  • The index reached its highest level in three weeks. The 55-day moving average at 11,659 still acts as the first possible resistance point
  • Reports suggest Italy is preparing to accept new lower budget deficit targets in the range of 1.9-2.0%. European PMIs were mixed yesterday. Notably, Italy’s fell to a near 4-year low.

AU200AUD Daily Chart

Source: OANDA fxTrade

  • The Australia200 index looks set to advance for a second day ahead of the Reserve Bank of Australia’s rate meeting later today
  • The 61.8% Fibonacci retracement of the November 12-21 drop is at 5,816. The 55-day moving average is at 5,887
  • RBA is expected to keep rates at record lows at today’s meeting. The accompanying statement will be scrutinized for any change in tone or language from prior ones.

cfd trading tips