Daily Markets Broadcast 2019-12-04

MarketPulse | Dec 04, 2019 12:17AM ET

US President Trump said last night he was in no hurry to make a trade deal and could even wait until after the election. If one were to be concluded this year, it would have to be the “right” one. Australia’s Q3 GDP growth slows.

US30USD Daily Chart

The US30 index fell for a fourth straight day yesterday, dropping to the lowest level since November 4.

The index is heading toward the convergence area of the 55-day moving average at 27,201 and trendline support around the 27,225 level.
Today we hear services PMIs from Markit and ISM for November. The former was 51.6 at the preliminary estimate, while the latter is expected to dip to 54.5 from 54.7 in October.
DE30EUR Daily Chart

The Germany30 index rebounded yesterday, snapping a three-day losing streak after hitting the lowest level since November 1.
The index is still above the 55-day moving average at 12,783 and the 38.2% Fibonacci retracement of the October 3 to November 19 rally at 12,785.
The final Markit services PMI readings for both Germany and the Euro-zone are due today. Preliminary numbers for Germany were 51.3 and for the Euro-zone 51.5.
CN50USD Daily Chart

The China50 index rose for the first time in four days yesterday, but overnight developments on the trade deal front could apply pressure this morning.

Get The News You Want

Read market moving news with a personalized feed of stocks you care about.

Get The App

The index is headed toward the 200-day moving average at 13,426, which has supported prices since February 11.
US Commerce Secretary Ross said several things still need to be addressed in order to close a deal with China, including details on what products and how much China will commit to buying.
Original Post

Written By: MarketPulse

Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
Show moreShow Less

Send Feedback

Privacy & Disclaimer

Follow us

© 2007-2024 Fusion Media Limited.
All Rights Reserved