Wall Street recoups early losses
In slow, holiday-affected trading yesterday, US indices felt early pressure and it was only the US30 index that recovered to close in the black after Boeing shares soared on 737MAX news. Hong Kong protests continue to escalate. US President Trump is scheduled to speak today.
US30USD Daily Chart
The US30 index has edged lower in early trading after recovering from losses of as much as 0.6% early yesterday
The index is hovering below record highs with the 55-day moving average rising to 26,866
There are a few Fed speakers today to accompany US President Trump. Clarida, Barkin, Harper and Kashkari are all on tap throughout the US session. There are no major data releases scheduled today.
DE30EUR Daily Chart
The Germany30 index fell for a second day yesterday amid a broader malaise across equity markets
The 55-day moving average has advanced to 12,459
The German ZEW survey for November is expected to show an improvement in the economic sentiment index to -13.0 from -22.3 while the current situation index is seen rising to -22.0 from-25.3, according to the latest survey of economists.
WTICOUSD Daily Chart
West Texas Intermediate (WTI) looks set to fall for a second straight day today as global growth concerns persist
WTI appears to be rejecting the 200-day moving average at $57.28 for now having closed above it last Friday. The 50% retracement of the September-October drop at $57.22 also seems to be a major hurdle to the upside
Weekly stockpiles data to November 8 from the American Petroleum Institute are due tomorrow. Last week saw an increase of 4.26 million barrels.
