Daily Markets Broadcast 2020-01-14
Daily Markets Broadcast
2020-01-14
Wall Street advances ahead of trade deal signing
US equities have rebounded strongly from Friday’s sell-off and look set to climb for a second straight day. US drops China’s label as a currency manipulator ahead of tomorrow’s deal sign-off.
US30USD Daily Chart
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The US30 index is hovering just below record highs after two days of gains
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The 55-day moving average, which has supported prices since October 10, has moved up to 28,052
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US consumer prices probably rose 2.3% y/y in December, according to the latest survey. That’s an acceleration from November’s +2.1%. Fed’s Williams is scheduled to speak.
DE30EUR Daily Chart
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The Germany30 touched the highest since January 2018 yesterday before reversing direction and closing lower
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The index is still above the 55-day moving average at 13,175, which has supported prices on a closing basis since October 8
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There are no major data releases scheduled for either Germany or the Euro-zone today. ECB’s Mersch is scheduled to speak.
CN50USD Daily Chart
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The China50 index jumped the most in 11 days yesterday, reaching levels not seen since January 2018, after the US removed China’s label as a currency manipulator.
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The 55-day moving average is at 14,060 and has supported prices since December 12
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China’s trade data for December are due today, with exports seen rising 3.2% y/y and imports soaring 9.6% y/y, according to the latest survey of economists. The trade surplus is expected to rise to $48 billion from $37.9 billion in November.
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