Reported progress in the U.S.-China trade talks kept most U.S. indices supported, though the Nasdaq 100 index was dragged lower by Tesla (NASDAQ:TSLA), after disappointing Q1 deliveries.
Source: OANDA fxTrade
- The US30 index continues to edge higher this morning, touching the highest since Oct. 10
- The next possible resistance point could be the October 2018 high of 26,940
- March nonfarm payrolls data are due today and the economy is seen adding 180,000 jobs, the latest survey of economists shows. The unemployment rate is expected to hold steady at 3.8%.
Source: OANDA fxTrade
- The Gemany30 index extended its current rally to nine days yesterday as hopes for a U.S.-China trade deal grew
- The index touched the highest in almost six months yesterday and is eyeing the 61.8% Fibonacci retracement of last year’s May-December drop at 12,107
- German factory orders fell more than expected in February. This could influence today’s release of industrial production data for the same month, which is currently expected to rise 0.5% m/m following a 0.8% decline in January.
Source: OANDA fxTrade
- WTI edged lower for a second day yesterday after the EIA reported Wednesday the biggest weekly inventory build in two months
- WTI appears to be shying away from Fibonacci resistance at 63.768, which is 61.8% retracement of the October-December drop. The 200-day moving average, which was breached to the upside on Tuesday, is at 61.466
- 7.24 million barrels were added to oil in the week to March 29, according to EIA data. that’s the biggest add since the week of Jan. 25 while expectations were for a drawdown of 0.43 million barrels.