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Daily Markets Broadcast: U.S. Equities Rebound

ByMarketPulse
AuthorAndrew Robinson
Published 01/14/2020, 07:51 AM
Updated 03/05/2019, 07:15 AM

US equities have rebounded strongly from Friday’s sell-off and look set to climb for a second straight day. US drops China’s label as a currency manipulator ahead of tomorrow’s deal sign-off.

US30USD Daily Chart

US30USD Daily Chart

  • The US30 index is hovering just below record highs after two days of gains.

  • The 55-day moving average, which has supported prices since October 10, has moved up to 28,052.

  • US consumer prices probably rose 2.3% y/y in December, according to the latest survey. That’s an acceleration from November’s +2.1%. Fed’s Williams is scheduled to speak.

    • DE30EUR Daily Chart

    DE30EUR Daily Chart

  • The Germany30 touched the highest since January 2018 yesterday before reversing direction and closing lower.

  • The index is still above the 55-day moving average at 13,175, which has supported prices on a closing basis since October 8.

  • There are no major data releases scheduled for either Germany or the Euro-zone today. ECB’s Mersch is scheduled to speak.

    • CN50USD Daily Chart

    CN50USD Daily Chart

  • The China A50 index jumped the most in 11 days yesterday, reaching levels not seen since January 2018, after the US removed China’s label as a currency manipulator.

  • The 55-day moving average is at 14,060 and has supported prices since December 12

  • China’s trade data for December are due today, with exports seen rising 3.2% y/y and imports soaring 9.6% y/y, according to the latest survey of economists. The trade surplus is expected to rise to $48 billion from $37.9 billion in November.
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