Upward momentum stalled on Wall Street yesterday, with only the NAS100 index extending gains, as earnings reports failed to continue the strong trend. Holidays in Australia and New Zealand may impact liquidity during the Asian session.
US30USD Daily Chart
Source: OANDA fxTrade
-
The US30 index touched the highest level since October 5 yesterday before giving back gains to close lower on the day. Boeing and Tesla were drags on sentiment
-
Rising 55-day moving average support is at 25,919 today
-
US durable goods orders are expected to rise 0.8% m/m in March, a sharp rebound from February’s 1.6% decline, as the volatility in this data series continues.
DE30EUR Daily Chart
Source: OANDA fxTrade
-
The Germany30 index climbed to a near seven-month high yesterday, despite further disappointments from the IFO surveys, as it took its cue from Wall Street
-
The index touched the highest since October 1 yesterday. The 78.6% Fibonacci retracement of the May-December drop is at 12,581
-
Germany’s IFO surveys for April were all below forecast with the current assessment slipping to 103.3 from 103.8, the business climate index to 99.2 from 99.6 and the expectations index to 95.2 from 95.6.
CN50USD Daily Chart
Source: OANDA fxTrade
-
The China50 index slid to an eight-day low yesterday despite local reports of “substantial” progress in the trade talks with the US
-
Prices are heading toward Fibonacci support at 13,278, which is the 23.6% retracement of the rally to April 19. The 55-day moving average is at 12,836 and the index has traded above this average since January 22
-
China’s Premier Li acknowledged that the domestic economy is facing downward pressure. The government is to keep economic activity within a reasonable range by deepening reforms and cutting taxes.
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 trades with negative bias, holds above 1.0700 as traders await US PCE Price Index
EUR/USD edges lower during the Asian session on Friday and moves away from a two-week high, around the 1.0740 area touched the previous day. Spot prices trade around the 1.0725-1.0720 region and remain at the mercy of the US Dollar price dynamics ahead of the crucial US data.
USD/JPY jumps above 156.00 on BoJ's steady policy
USD/JPY has come under intense buying pressure, surging past 156.00 after the Bank of Japan kept the key rate unchanged but tweaked its policy statement. The BoJ maintained its fiscal year 2024 and 2025 core inflation forecasts, disappointing the Japanese Yen buyers.
Gold price flatlines as traders look to US PCE Price Index for some meaningful impetus
Gold price lacks any firm intraday direction and is influenced by a combination of diverging forces. The weaker US GDP print and a rise in US inflation benefit the metal amid subdued USD demand. Hawkish Fed expectations cap the upside as traders await the release of the US PCE Price Index.
Sei Price Prediction: SEI is in the zone of interest after a 10% leap
Sei price has been in recovery mode for almost ten days now, following a fall of almost 65% beginning in mid-March. While the SEI bulls continue to show strength, the uptrend could prove premature as massive bearish sentiment hovers above the altcoin’s price.
US economy: Slower growth with stronger inflation
The US Dollar strengthened, and stocks fell after statistical data from the US. The focus was on the preliminary estimate of GDP for the first quarter. Annualised quarterly growth came in at just 1.6%, down from the 2.5% and 3.4% previously forecast.