Daily Markets Broadcast August 15, 2019
Wall Street stocks nose-dived yesterday after the US yield curve inverted for the first time since 2007, which is often seen as a precursor to a recession. Weak data out of China added to the malaise. The key Australian jobs report is due today
US30USD Daily Chart
The index gave back all of the previous day’s gains, and more, yesterday amid gloomy global data and crashing US yields.The index closed below the 200-day moving average at 25,582 for the first time in 10 days. The 78.6% Fibonacci retracement of the June-July rally is at 25,120.US probably rose 0.3% m/m in July, the latest survey of economists shows. likely increased 0.2% m/m in the same month.
DE30EUR Daily Chart
The index fell the most this year after data confirmed the Germany economy contracted in the second quarter.The index closed below the 50% retracement level of the December-July rally at 11,470 for the first time since March 28.German GDP fell 0.1% q/q in Q2, the first negative reading in three quarters, data released yesterday showed. There are no major German or eurozone data releases scheduled for today.
AU200AUD Daily Chart
The index fell the most in seven sessions yesterday in response to weak data out of China. The index has risen slightly this morning ahead of the July .The index closed below the 100-day moving average at 6,472 for the first time since January 23The Australian economy probably added 14,000 jobs in July, the latest forecasts from economists suggest that’s a sharp increase from June’s 500 jobs. The is seen holding steady at 5.2%.
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