Rumours circulated yesterday that the lack of detailed progress in this week’s U.S.-China negotiations implies a deeper impasse. Oil prices continued their slide on demand concerns. US30USD Daily Chart 
Source: OANDA fxTrade
- The US30 index fell for a second consecutive day yesterday on trade negotiation concerns. Energy stocks weakened as crude oil crashed more than 3%
- Rising 55-day moving average support is at 26,039 today. The index fell through 26,264 support putting a double-top in place with a measured objective of 25,862
- The U.S. economy added 185,000 jobs in April, according to the latest survey of economists. A below-forecast number would put additional pressure on Wall Street. The unemployment rate is seen steady at 3.8%.
DE30EUR Daily Chart
Source: OANDA fxTrade
- The Germany30 index snapped a three-day winning streak yesterday though losses were limited by an uptick in the Markit manufacturing PMI in April. March retail sales also come in above forecast
- The index is testing the 61.8% Fibonacci retracement of the 2018 fall at 12,332
- German retail sales fell a less-than-expected 0.2% m/m in March following a 0.5% gain the previous month. The Markit manufacturing PMI was revised higher to 44.4 from 44.1.
WTICOUSD Daily Chart
Source: OANDA fxTrade
- WTI fell 3.2% yesterday as increasing inventories raise concerns about slack demand. Meanwhile supply concerns eased as the Iran sanction waivers expired.
- WTI is approaching the 200-day moving average at 60.716, which has supported prices since April 2
- Data from the EIA released Wednesday showed an addition of 9.93 million barrels to inventories, the biggest increase since November.