US indices slid this morning as investors assessed whether China’s stimulus efforts will be enough to counter the CoVid-19 threat. Oil prices rise further.
US30USD Daily Chart
- The index was steady yesterday in holiday-thinned trade, but has opened weaker this morning
- The 55-day moving average has risen to at 28,709 while the 100-day moving average is at 28,037
- The probably rose to 5.0 from 4.8 this month, the latest survey shows. That would be the highest reading since May last year.
DE30EUR Daily Chart
The index looks set to snap a two-day rising streak today after it opened weaker following Wall Street’s cueThe index remains above the 55-day moving average at 13,352 while the 100-day average provides longer-term support below at 13,091The February ZEW surveys for both and the are due today, with Germany’s economic sentiment index expected to fall to 21.5 from 26.7 while the Euro-zone’s is seen improving to 30.0 from 25.6WTICOUSD Daily Chart
West Texas Intermediate (WTI) hit the highest level this month yesterday on hopes that the CoVid-19 news will start to improve prices are rising toward the 23.6% Fibonacci retracement of the January-February decline at $53.136Tomorrow the American Petroleum Institute releases its weekly stockpiles data to February 14. Last week saw a lumpy increase in inventories of six million barrelsOriginal Post