Wall Street mixed as upward momentum stalls
It was a mixed performance on Wall Street overnight, with the US30 index weighed down by Boeing, the SPX500 flat and the Nas100 index eking out small gains.
US30USD Daily Chart
The US30 index slid lower for a second consecutive day yesterday as production cuts at Boeing dragged the index lower
The 55-day moving average at 25,616 could be the next technical support point
US factory orders fell 0.5% m/m in February, less than the -0.6% forecasts had suggested. It’s another slow data day today, with a speech from Fed’s Clarida likely the main highlight.
DE30EUR Daily Chart
The Germany30 index fell for the first time in 11 sessions yesterday as a lack of momentum on Wall Street pressured
The 10-day rally stalled just below the 61.8% Fibonacci retracement of the May-December decline at 12,089. The 200-day moving average at 11,703 could be the next support level
There are no data releases for either Germany or the Euro-zone today. The main event for the week will be tomorrow’s ECB rate meeting.
JP225USD Daily Chart
Today the Japan 225 index looks set to retreat further from the 4-month high struck yesterday amid broader weakness across equity markets
The index is pivoting around the 200-day moving average, which is at 21,889 today
Japan’s bank lending is expected to slow to +2.0% y/y in March following a 2.3% gain in February. Machinery orders are expected to continue their sluggish phase, with a 5.2% y/y decline in February, the second contraction in a row. Both data sets are scheduled for release early tomorrow morning.
