Wall Street higher on trade deal

US indices have hit fresh record highs after US President Trump signed off on the Phase 1 trade deal with China. The pound soars as the UK Conservative party look set to win the general election with a much greater than anticipated margin.

US30USD Daily Chart

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The US30 index has touched new record highs this morning following the trade deal, averting the December 15 deadline for the next set of tariffs

The 55-day moving average has risen to 27,336 while trendline support is around the 27,210 level

US retail sales are expected to rise 0.5% m/m in November, according to the latest survey. That’s a faster pace than October’s +0.3%.

DE30EUR Daily Chart

The Germany30 index rose for a third straight day as the ECB kept rates steady, as expected

The 55-day moving average has advanced to 12,890 and has supported prices since October 10

Christine Lagarde and her team kept rates unchanged at her first meeting in charge. She reiterated the same forward guidance, with a muted inflation outlook though there are initial signs of economic stabilization. There are no major data releases scheduled for today.

CN50USD Daily Chart

China shares look poised to open higher this morning following the rally on Wall Street after Trump signed off on the Phase 1 trade deal

The index will likely open above the 55-day moving average at 13,865 for the first time since November 21

Under the Phase 1 deal, China will reportedly buy more US agricultural products. Apparently, the terms have been agreed but the legal text has not yet been finalized. November Foreign Direct Investment flows are due to be released today.

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