Daily Markets Broadcast 2019-07-18

Jul 18 03:07 2019 Print This Article

Daily Markets Broadcast

2019-07-18

Wall Street slides on weak earnings reports

US indices extended declines to a second day yesterday after earnings reports from the banking sector disappointed. Oil prices slid despite a drawdown of inventories while gold surged on a weaker US dollar.

 

US30USD Daily Chart

Source: OANDA fxTrade

The US30 index fell the most in three weeks yesterday, extended the recent slide from record highs to a second day. The index has traded even lower this morning

The 100-day moving average at 26,131 and the 55-day average at 26,194 continue to track each other higher

Analysts are anticipating a strong rebound in the Philadelphia Fed manufacturing survey for this month. Estimates suggest a 5.0 reading from 0.3 in June.

 

DE30EUR Daily Chart

Source: OANDA fxTrade

The Germany30 index gave back most of the gains from the previous two days yesterday and has extended those losses in early trading this morning

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