Wall Street mixed as investors eye trade talks
It was a mixed, lacklustre trading session on Wall Street yesterday, with investors waiting for clues on trade talks and the potential second US government shutdown.
US30USD Daily Chart
The US30 index fell for a fourth consecutive day yesterday, but lacked any true direction as ranges were tight and volumes low
The index has held above the 100-day moving average at 24,854
Data releases today are only second-tier ones again, though we have speeches from Fed’s Powell, George and Mester on tap.
DE30EUR Daily Chart
The Germany30 index snapped a three-day losing streak yesterday on stronger corporate results
The index held above the 50% retracement level of the run-up which lasted from December 27 to February 5, which is at 10,835
ECB’s Guindos said he sees core inflation accelerating in the medium term, implying there is no further downward shift in the ECB’s policy stance. He reiterated that the ECB will be prudent in setting monetary policy.
WTICOUSD Daily Chart
WTI fell more than 1% yesterday, but recovered into the close, as OPEC output curbs overcame doubts about the looming trade talks
WTI is holding above the 55-day moving average at $50.856, as it has since January 17 on a closing basis
Later today API releases weekly crude oil inventory data. The data has shown an increase in oil stockpiles for three consecutive weeks.