US indices rallied yesterday with some better-than-expected earnings driving the move. The US30 index hit six-month highs while the NAS100 index came within a whisker of its record high. China’s Q1 GDP growth data are due today which will determine near-term direction.
US30USD Daily Chart
Source: OANDA fxTrade
-
The US30 index touched the highest since October 9 yesterday, as strength in the financial sector overcame weakness in the healthcare sector
-
The rising 55-day moving average support is at 25,795 today
-
The US trade deficit is seen widening to $53.7 billion in February from $51.1 billion the previous month.
DE30EUR Daily Chart
Source: OANDA fxTrade
-
The Germany30 index extended its recent gains to a fifth day yesterday and early trading this morning has seen it climbing further
-
The index touched the highest since October 8 yesterday and is testing the 61.8% Fibonacci retracement level of the May-December drop at 12,089
-
Euro-zone consumer prices are seen spiking 1.0% higher from a month earlier in March following a 0.3% gain in February. That would be the highest in a year.
CN50USD Daily Chart
Source: OANDA fxTrade
-
China shares surged the most since February 25 yesterday amid rising expectations for strong growth numbers in Q1
-
The index touched the highest since February 7, 2018 yesterday. The 78.6% Fibonacci retracement of the January 2018-January 2019 drop is at 13,917
-
The Chinese economy is seen expanding 6.3% y/y in Q1, a slower pace than the 6.4% recorded in Q4. A better-than-expected number could encourage risk appetite and drive indices higher.
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 OANDA’s, its officers or directors. OANDA’s Terms of Use and Privacy Policy apply. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.
Recommended Content
Editors’ Picks
EUR/USD steady below 1.0800 after US PCE meets expectations
EUR/USD remains depressed below 1.0800 after soft French inflation data, amid minimal volatility and thin liquidity on Good Friday. The pair barely reacted to US PCE inflation data, with the Greenback shedding some pips. Fed Chair Jerome Powell set to speak ahead of the weekly close.
GBP/USD hovers around 1.2620 in dull trading
GBP/USD trades sideways above 1.2600 amid a widespread holiday restraining action across financial markets. Investors took a long weekend ahead of critical United States employment data next week. Fed Chair Powell coming up next.
Gold price sits at all-time highs above $2,230
Gold price holds near a fresh all-time high at $2,236 in thinned trading amid the Easter Holiday. Most major world markets remain closed, although the United States published core PCE inflation, the Federal Reserve’s favorite inflation gauge.
Jito price could hit $6 as JTO coils up inside this bullish pattern
Jito (JTO) price has been on an uptrend since forming a local bottom in early January. Since then, JTO has revisited the key swing point formed in early December, suggesting the bulls’ intention to move higher.
Key events in developed markets next week
Next week, the main focus will be inflation and the labour market in the Eurozone. We expect services inflation to be impacted by the easter effect, while the unemployment rate to be unchanged.