Wall Street edges higher after strong earnings
US indices saw whippy trading yesterday before a last-minute spurt saw them close in the black. Better results from a few index heavyweights helped sentiment. The ECB meets today and could focus on the downside risks to the economy. Australian shares rally after better-than-expected jobs data.
US30USD Daily Chart
The US30 index snapped a two-day losing streak yesterday after swinging from negative to positive in late trading
The 55-day moving average at 24,324 appears to be lending support for now after the index failed to close below it for the past two days
The January flash reading of manufacturing PMI is due today and seen sliding to 53.5 from 53.8, according to the latest poll.
DE30EUR Daily Chart
The Germany30 index advanced for the first time in three days yesterday as the market awaits developments on Brexit
The 55-day moving average at 11,061 remains in focus, while Fibonacci support at 11,029, which is 23.6% retracement of the December-January rally, held yesterday
ECB is expected to keep rates steady today, the first meeting after it ceased its bond-buying program. EU data has been uninspiring for the past few months, and this could drive expectations.
AU200AUD Daily Chart
The Australia200 index climbs today after data showed the economy added more jobs than expected in December
The index is pivoting around the 100-day moving average at 5,851. The 200-day moving average at 6,005 could be the next resistance point
Australia added 21,600 jobs in December, more than expected, 24,600 part-time with a loss of 3,000 full-time. The unemployment rate dipped to 5.0% from 5.1%.
