Australia Jobs Report For October Missed Estimates
MarketPulse | Nov 14, 2019 01:08AM ET
h3 Wall Street stalls as trade deal hits a snag/h3
Most US indices struggled to rally yesterday as reports circulated that the US-China Phase 1 deal had hit a snag. Discrepancies on China’s agricultural purchases were among the issues. Powell’s testimony on Capitol Hill had nothing new for markets. The Australian jobs report for October disappointed.
US30USD Daily Chart
- The US30 index outperformed other US indices as Disney reported strong take-up numbers for its new streaming service.
- The index hit a new record high yesterday. The 55-day moving average has risen to 26,924.
- US producer prices are expected to rise 0.3% m/m in October, an uptick from September’s -0.3% reading. Fed’s Evans, Clarida and Bullard are scheduled to speak, with Chairman Powell delivering Day 2 of his testimony.
DE30EUR Daily Chart
- The Germany30 index declined yesterday despite better-than-expected economic data.
The index touched the lowest in a week as the 55-day moving average rose to 12,516.
- The Euro-zone’s economic growth is expected to maintain its recent pace in Q3 with a +0.2% q/q reading expected. Speeches from ECB’s De Guindos and Lane are scheduled for today.
AU200AUD Daily Chart
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- The Australia200 index rebounded off intra-day lows as the jobs report for October missed estimates. The weaker report raised hopes of more RBA rate cuts which supported the index
- The index touched the lowest in a week before rebounding. The 55-day moving average has risen to 6,664 and has been above the 100-day moving average since November 7
- The Australian economy lost 19,000 jobs in October, 10,700 of those in the full-time category. The unemployment rate rose to 5.3% from 5.2%, even with a lower participation rate of 66.0%.
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