Daily Markets Broadcast 2019-05-15

News

Daily Markets Broadcast

2019-05-15

Wall Street bounces on trade hopes

US indices recovered most of Monday’s sell-off yesterday as US President Trump issued soothing words about the state of play in the trade negotiations. Oil jumped following attacks on pumping stations in the Middle East.

US30USD Daily Chart

Source: OANDA fxTrade

  • The US30 index rebounded with the biggest one-day gain in six weeks yesterday as Trump played down the recent worsening of the tariff spat
  • The index regained the 100-day moving average at 25,362 after closing below it for the first time since January 29 on Monday
  • US retail sales are expected to rise just 0.2% m/m in April, a slowdown from March’s 1.6% gain. Fed’s Quarles is scheduled to speak.

DE30EUR Daily Chart

Source: OANDA fxTrade

  • The Germany30 index shrugged off the threat of US tariffs on European car imports and rallied 0.9% yesterday
  • The 55-day moving average at 11,846 survived an initial test yesterday after the index rebounded off six-week lows
  • The German economy is expected to have grown 0.7% y/y in the first quarter, a slightly slower pace than the +0.9% recorded in Q4.

CN50USD Daily Chart

Source: OANDA fxTrade

  • The China50 index rose the most in a month yesterday as markets took a breather from Monday’s sell-off
  • The index held above the 100-day moving average at 12,265, which has supported prices since January 25
  • China’s retail sales are seen rising 8.6% y/y in April after an 8.7% expansion in March. Industrial production is expected to expand 6.5% in the same month, a slower pace than March’s +8.5%. Both data sets are due at 0200GMT.

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Andrew Robinson

A seasoned professional with more than 30 years’ experience in foreign exchange, interest rates and commodities, Andrew Robinson is a senior market analyst with OANDA, responsible for providing timely and relevant market commentary and live market analysis throughout the Asia-Pacific region. Having previously worked in Europe, since moving to Singapore he worked with several leading institutions including Bloomberg, Saxo Capital Markets and Informa Global Markets, proving FX strategies based on a combination of technical and fundamental analysis as well as market flow information. Andrew began his career as an FX dealer with NatWest and the Royal Bank of Scotland in the UK.

Andrew Robinson

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