Loading

wait a moment

Daily Markets Broadcast 2019-03-26

start trading binary options

Daily Markets Broadcast

2019-03-26

Wall Street overcomes early selling to close higher

US indices experienced early pressure yesterday but recovered lost ground to finally close higher on the day. Apple kept the Nas100 index capped while gold hit a near-one month high.

 

US30USD Daily Chart

Source: OANDA fxTrade

  • The US30 index slid to a two-week low before rebounding to close higher yesterday
  • The index held above the 55-day moving average at 25,266, which has underscored prices since January 23
  • US housing starts are seen dropping 28.3% m/m in February and building permits are expected to decline 0.6%. In contrast, the house price index is forecast to rise 0.3% in January.

 

DE30EUR Daily Chart

Source: OANDA fxTrade

  • The Germany30 index rebounded from the lowest level since February 19 to post a positive close yesterday as German IFO surveys beat estimates
  • The index tested below the 55-day moving average at 11,298 before rebounding. The moving average still supports prices on a closing basis since February 8
  • After the better-than-expected German March IFO surveys yesterday (expectations index 95.6 vs 94.0 forecast), today we see the Gfk consumer confidence survey for April. That’s expected to hold steady at 10.8, according to the latest survey of economists.

 

XAU/USD Daily Chart

Source: OANDA fxTrade

  • Gold pushed to the highest level this month last night versus the US dollar amid global growth concerns and a weaker US dollar on the back of lower US yields
  • The index breached the 61.8% Fibonacci retracement level of the February-March drop at 1,321.79 for the first time since February 28. The pair is still hovering near that resistance point
  • The US 10-year Treasury yield fell to 2.418% yesterday, the lowest since December 2017, after Friday’s PMI readings raised concerns of a deeper global slowdown. The yield curve inverted a touch more, which many believe to be the fore-runner of a US recession.

 

 

cfd trading tips