Daily Markets Broadcast 2018-11-20

Daily Markets Broadcast

2018-11-20

Wall Street dragged lower by tech sector

A weak tech sector led US indices lower yesterday on reports Apple is reducing production of its iPhone handsets. European indices remain pressured by Brexit sentiment. Asian bourses look set for a weaker open today.

NAS100USD Weekly Chart

Source: OANDA fxTrade

• The NAS100 index fell the most since October 24 to hit a three-week low
• The 200-week moving average is at 6,352.5 and the index has traded above this average since June 2016
• US housing starts and building permits for October are due today. Yesterday, the Oct NAHB housing index hit a two-year low, suggesting the housing market will continue to lag the rest of the US economy.

DE30EUR Monthly Chart

Source: OANDA fxTrade

• The Germany30 index fell for a second day yesterday as the cloudy future for Brexit damps sentiment. The index fell to a three-week low
• The index is still sitting on the 55-month moving average at 11,219
• German producer prices are seen rising at a faster annual pace in Oct, data today may show. Forecasts suggest a 3.3% gain but a sharper increase could pile more pressure on the index.

HK33HKD Daily Chart

Source: OANDA fxTrade

• The HongKong33 index fell for the first time in three days yesterday, echoing sentiment in China shares as the US-China trade war appeared to be escalating after weekend news
• The index once again failed to clear the 55-day moving average. This average has capped the index on a closing basis since June 11
• Hong Kong October consumer price data are due today. Prices rose 2.7% in September.

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