Wall Street higher ahead of holidays
Wall Street indices were either flat or marginally higher on Friday amid some position squaring ahead of the long weekend. US President Trump is in Japan now. Weekend European election results are drifting in. There are public holidays in the UK and US.
US30USD Daily Chart
The US30 index rose on Friday, snapping a two-day losing streak but it wasn’t enough to prevent a third weekly loss in a row
The 200-day moving average at 25,419 is still acting as a support level, with prices holding above it on a closing basis since May 13
US President says a trade deal with Japan will not happen during his trip. The initial target period for an agreement is after the Japanese elections in July.
DE30EUR Daily Chart
The Germany30 index is marginally higher this morning after EU election exit polls suggested that mainstream EU parties were holding off an assault by the more populist parties
Support at the 55-day moving average at 11,930 remains intact and has supported prices on a closing basis since February 8
ECB’s Weidmann said Friday he sees no need for ECB to change its monetary policy at the moment, despite current weakness in the Euro-zone economy.
JP225USD Daily Chart
The Japan225 index is higher for a second straight day in early trading this morning as Trump said that the US and Japan were “close” to a trade deal, though it will likley not be finalised until after the Japanese elections in July
The index has traded below the 55-day moving average, which is at 21,719 today, since May 7
Japan’s March leading economic index is seen holding steady at 96.3. BOJ’s Kuroda is scheduled to speak at 0300GMT.
