Daily Markets Broadcast 2018-11-09

Nov 09 02:11 2018 Print This Article

Daily Markets Broadcast

2018-11-09

Wall Street dips as Fed holds rates

Most US indices fell yesterday after the Fed kept rates unchanged, but maintained its hawkish view on the economy and rate trajectory. Oil fell to new seven-month lows.

SPX500USD Daily Chart

Source: OANDA fxTrade

The SPX500 index fell for the first time this week yesterday, feeling pressure from the Fed’s hawkish rate outlook into December and 2019

The index failed to test the 100-day moving average 2,822, which has capped prices since the large drop on October 10

October’s producer price index is due today. Prices are seen rising at the same rate as September, +0.2% m/m and +2.6% y/y. Higher numbers could imply rising pipeline price pressure, which could hurt Wall Street.

DE30EUR Daily Chart

Source: OANDA fxTrade

The Germany30 index slipped for the first time in three days yesterday after latest Brexit comments from the UK poured cold water on the idea that a deal would be concluded this week

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