Equities drift at record levels
US indices closed little changed yesterday, holding at or near record highs. The impeachment debate is currently on in Washington. Australia’s jobs data for November beat estimates.
US30USD Daily Chart
The US30 index advanced for a seventh day yesterday, hitting new record highs in the process
The 55-day moving average, which has supported prices since October 10, has risen to 27,470 while trendline support is around the 27,200 level
US existing home sales are expected to fall 0.2% month-on-month in November, according to the latest survey of economists.
DE30EUR Daily Chart
The Germany30 index fell for a second consecutive day yesterday despite some improvement in the German IFO surveys for December
The 55-day moving average has advanced to 12,973 and has also supported prices since October 10
The expectations index in the German IFO survey for December jumped to 93.8, more than the 93.0 economists had been expecting. The current assessment and business climate indices also came in better than expected. There are no major data releases scheduled for today.
WTICOUSD Daily Chart
West Texas Intermediate rose to levels not seen since September 17 yesterday as weekly stockpiles data showed a reduction in reserves
WTI closed above the 78.6% Fibonacci retracement of the September 16 to October 3 drop at $60.744 for the first time in three months
Stockpiles data to December 13 from the Energy Information Administration (EIA) showed a drawdown of 1.08 million barrels compared with an increase of 0.82 million barrels the previous week.
