US indices steady in holiday-thinned trade
US indices held near record levels in low-volumed activity yesterday due to a US public holiday. US and France agreed to a tariff truce in their digital tax war. Wuhan reports fourth death from corona virus.
US30USD Daily Chart
The US30 index traded in narrow ranges yesterday, with interest damped by the Martin Luther King holiday
The 55-day moving average, which has supported prices since October 10, has moved up to 28,250
The US Senate debates on the next stage of the Trump impeachment hearings later today. There are no major US data releases scheduled for today.
The Germany30 index advanced for a third day yesterday following the good news that the US and France had declared a tariff truce on digital taxes
The index hit the highest since January 2018 and is above the 55-day moving average at 13,245, which has supported prices on a closing basis since October 8
The German ZEW survey for January is expected to show improvement, with the economic sentiment index rising to 15.0 from 10.7 in December.
The Japan225 index is consolidating near five-week highs ahead of today’s Bank of Japan interest rate meeting
The 55-day moving average is at 25,382 and the index has been above it since January 8
The Bank of Japan is widely expected to keep both interest rates and its asset buying program unchanged at today’s meeting. Of more interest could be the Q4 outlook report, which may reflect the more positive views seen elsewhere.