Wall Street at record highs ahead of payrolls report
US equities have extended the recent rebound and hit record highs earlier this morning. The US payrolls report is expected to show the US economy was still in a good place in December. UK politicians voted in favour of an 11-month Brexit transition period.
US30USD Daily Chart
The US30 index looks set to extend the current rally to a third consecutive day today
The 55-day moving average, which has supported prices since October 10, has moved up to 27,980
The US economy is expected to have added 164,000 jobs in December, less than November’s stellar 266,000. The unemployment rate is seen steady at 3.5%, a 50-year low.
The Germany30 index has risen to the highest in two years in early trading this morning, lifted by the buoyant mood on Wall Street and better-than-expected German data yesterday
The index has rebounded strongly off the 55-day moving average this week, a moving average that has supported prices on a closing basis since October 8
Germany’s industrial production rose 1.1% m/m in November, more than the +0.7% economists had expected. There are no major data releases for both Germany and the Euro-zone scheduled for today.
The China50 index rallied for a third straight day yesterday, with investors anticipating that the US-China interim trade deal will be signed soon
The 55-day moving average has risen to 14,036, and has supported prices since December 12
China’s new loans data for December are due and are expected to show a further 1.19 trillion yuan ($172 billion) of loans granted.