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Wall Street loves Powell

Written by By Markus Heitkoetter | 2019-01-11 02:22:00 GMT

US30USD Daily Chart

Source: OANDA fxTrade

  • The US30 index reached a three-week high yesterday following Powell’s comments, extending the current rally to a fifth day, the longest stretch since last month

  • The index is edging toward the 61.8% Fibonacci retracement of December’s drop at 24,308. The 55-day moving average is at 24,429

  • US consumer prices for December are due today and are seen falling 0.1% m/m, which would be the first decline in nine months.

 

DE30EUR Daily Chart

Source: OANDA fxTrade

  • The Germany30 index rose for a third straight day yesterday, echoing the mood on Wall Street

  • The 55-day moving average at 11,111 remains a significant hurdle for the index to overcome as slow stochastics momentum wanes

  • ECB’s Villeroy said gradual normalization of ECB policy is still desirable, though the central bank should keep its options open in the face of uncertainty.

 

AU200AUD Daily Chart

Source: OANDA fxTrade

  • The Australia200 index touched the highest level in nearly two months this morning after November retail sales came in above estimate

  • The 100-day moving average is at 5,890 and the index has traded below it since October 5

  • Retail sales rose 0.4% m/m in November, beating economists’ forecasts of a 0.3% gain. That’s the fastest growth in five months.

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By Markus Heitkoetter
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