Daily Markets Broadcast 2019-05-16

May 16 02:05 2019 Print This Article

Daily Markets Broadcast

2019-05-16

Wall Street encouraged by prospect of tariff delay

Reports circulated yesterday that President Trump was considering a delay in imposing tariffs on European car imports, which could have come in to effect at the weekend. US indices staged a relief rally despite a weak set of US economic data. Today’s Australian employment report for April could decide whether the RBA adopts a more dovish bias, or not.

 

US30USD Daily Chart

Source: OANDA fxTrade

The US30 index extended the recent rebound to a second day yesterday but has edged lower since the open this morning

The 100-day moving average at 25,403 is set to move above the 200-day moving average at 25,404 for the first time since January 28

US retail sales fell 0.2% m/m in April while industrial production contracted 0.5%. Today sees the release of housing starts and building permits for April.

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