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Dow Jones Higher On Nonfarm Payrolls

Published 12/09/2019, 12:36 AM
Updated 03/05/2019, 07:15 AM

Better-than-expected US non-farm payrolls data lifted US equities on Friday. Indices have started slightly negatively this morning after China’s trade data released at the weekend disappointed.

US30USD Daily Chart

US30USD Daily Chart

  • The US30 index rallied for a third straight day Friday after the US economy added more jobs than forecast.
  • The index remains above the convergence area of the 55-day moving average at 27,253 and trendline support around the 27,205 level.
  • US non-farm payrolls rose by a whopping 266,000 in November, much more than the 180,000 expected. The unemployment rate unexpectedly dipped to 3.5%. There are no major US data releases scheduled for today.
  • DE30EUR Daily Trade

    DE30EUR Daily Trade

  • The Germany30 index rose on Friday, following Wall Street’s lead.
  • The index is holding the rebound from the 23.6% Fibonacci retracement of the October 3 to November 19 rally at 13,012. The 55-day moving average has risen to 12,826.
  • CN50USD Daily Chart

    CN50USD Daily Chart

  • China shares rose for a fourth day on Friday with the CN50 index hitting a one week high. Today could be less positive after weekend trade data came in below forecast
  • The China A50 index tested the 55-day moving average at 13,857, which has capped prices on a closing basis since November 20
  • China’s exports fell 1.1% y/y in November, the fourth month of negative growth in a row, and is a testimony of the impact the 18-month trade war is having on the export part of the economy. Imports rose 0.3% y/y, better than the -1.8% expected, so the trade surplus narrowed to $37.7 billion.
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