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
The 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 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
The 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
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 forecastThe index tested the 55-day moving average at 13,857, which has capped prices on a closing basis since November 20China’s 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.Original Post
