Daily Markets Broadcast 2018-11-09
Daily Markets Broadcast
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 weekRead More
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