Daily Markets Broadcast

2018-11-15

Wall Street extends decline

Wall Street extended its decline to a fourth day on continued weakness for Apple, while Brexit headlines also introduced uncertainty. Oil managed its first positive day in thirteen days. Australia added the most full-time jobs since February last month.

US30USD Daily Chart

• The US30 index fell for a fourth straight day yesterday with continued weakness in the tech sector
• The index has yet failed to penetrate the 61.8% Fibonacci retracement support level of the Oct29 to Nov8 rally at 24,900
• US October CPI data was bang in line with expectations. Today we see retail sales, which are expected to rebound to +0.5% m/m following a 0.1% decline in September.

DE30EUR Daily Chart

• The Germany30 index was steady yesterday, unfazed by Brexit deal news as there still remain a lot of uncertainties
• The 55-day moving average at 11,863 would act as the first upward resistance point
• EU says it has received Italy’s official budget plan for 2019. Will respond on November 21.

AU200AUD Weekly Chart

• The Australia200 index is hovering near lows of the month, showing little response to a very strong jobs report for October
• The 200-week moving average at 5,644 supported prices at the last test, and may do so again this time
• Australia added net 32,800 jobs in October, with an increase of 42,300 full-time jobs and a loss of 9,500 part-time ones. That’s the biggest full-time jobs addition since February.