The Wall Street rebound came to a halt yesterday after a three-day rally as lower yields pressured the financial sector. European shares slid after Italian PM Conte announced his resignation. Hong Kong faces transport disruptions today from anti-government activists.
US30USD Daily Chart
Source: OANDA fxTrade
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The US30 index fell for the first time in four days as softer US yields hit banking stocks
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The index stalled ahead of the 100-day moving average at 26,289, which has capped prices for a week
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Existing home sales probably rose 2.5% m/m in July, the latest survey of economists suggests. The minutes of the last Fed meeting will be published late in the session.
DE30EUR Daily Chart
Source: OANDA fxTrade
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The Germany30 index snapped a two-day rising streak yesterday, pressured by Italian PM Conte’s resignation and weak sentiment on Wall Street
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The index continues to flirt with the 200-day moving average, which is at 11,664 today
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There are no major data releases scheduled from either Germany or the Euro-zone today. German Chancellor Merkel said the EU will remain united on its approach to Brexit. With regards to backstop, will think about practical solutions.
CN50USD Daily Chart
Source: OANDA fxTrade
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China shares hit the highest level since the start of the month yesterday before retreating and closing in the red
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The index opened above the 55-day moving average at 13,352 for the first time since August 1 yesterday. Given the weak sentiment elsewhere, it is unlikely to do so again today
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US Secretary of State Mike Pompeo commented early this morning that he thought a US-China trade deal could be reached before the 2020 US election.
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