It was a mixed performance on Wall Street overnight, with the US30 index weighed down by Boeing (NYSE:BA), the S&P 500 flat and the Nasdaq 100 index eking out small gains.
US30USD Daily Chart
Source: OANDA fxTrade
- The US30 index slid lower for a second consecutive day yesterday as production cuts at Boeing dragged the index lower
- The 55-day moving average at 25,616 could be the next technical support point
- U.S. factory orders fell 0.5% m/m in February, less than the -0.6% forecasts had suggested. It’s another slow data day today, with a speech from Fed’s Clarida likely the main highlight.
DE30EUR Daily Chart
Source: OANDA fxTrade
- The Germany30 index fell for the first time in 11 sessions yesterday as a lack of momentum on Wall Street pressured
- The 10-day rally stalled just below the 61.8% Fibonacci retracement of the May-December decline at 12,089. The 200-day moving average at 11,703 could be the next support level
- There are no data releases for either Germany or the Euro-zone today. The main event for the week will be tomorrow’s ECB rate meeting.
JP225USD Daily Chart
Source: OANDA fxTrade
- Today the Japan 225 index looks set to retreat further from the 4-month high struck yesterday amid broader weakness across equity markets
- The index is pivoting around the 200-day moving average, which is at 21,889 today
- Japan’s bank lending is expected to slow to +2.0% y/y in March following a 2.3% gain in February. Machinery orders are expected to continue their sluggish phase, with a 5.2% y/y decline in February, the second contraction in a row. Both data sets are scheduled for release early tomorrow morning.