Wall Street boosted by trade talk hopes
US indices have started the week positively amid hopes that enough progress is being made in lower-level trade talks to prompt a high level meeting next month. This week the UK Supreme Court may rule on the legality of Boris Johnson’s suspension of Parliament, which could impact the UK index. There’s a Japan public holiday today.
US30USD Daily Chart
The US30 index looks set to snap a two-day losing streak with advances in early trading
The 55-day moving average has edged up to 26,614, with prices trading above it since September 5
The flash Markit manufacturing PMI for September is expected to be unchanged from August at 50.3, according to the latest survey of economists. Fed’s Williams is scheduled to speak today.
DE30EUR Daily Chart
The Germany30 index has started positively this morning after falling for the first time in four weeks last week
The 100-day moving average is at 12,116 and has supported prices since September 6. The 55-day moving average is just below at 12,076
The provisional reading for Markit’s German manufacturing PMI is seen rising to 44.0 in September from 43.5 the previous month. The Euro-zone reading is also seen higher at 47.3 from 47.0.
WTICOUSD Daily Chart
Crude oil prices closed last week with the biggest weekly gain since mid-June after the attacks on Saudi production facilities. Prices are marginally higher at the start of trading today
Prices remain above the 100-day moving average at $56.85, which was breached to the upside a week ago
The American Petroleum Institute releases stockpiles data as at September 20 tomorrow. The previous week saw an increase in reserves of 592,000 barrels.
