SNB's Maechler: Swiss short-term growth outlook has worsened
These are mostly old news but the comment about softer growth in the short-term is worrisome. Given the optimism about 2020 it doesn't point to any action but it bears watching -- especially if today's pessimism on US-China trade turns into a blowup.
US-China trade deal may not be completed this year - report
More to come
Crude oil now up over $2 at $57.24
Technically, after 11 days when the price trade above and below its 200 day moving average (green line), that string was broken yesterday and the price extended below the 100 day moving average (blue line) helped by the private inventory data which showed a much larger than expected build of 5.94M barrels (estimate 1.5M).
USDCAD extends to new session highs
The USDCAD has extended to a new session high after:
The high just reached 1.33196.
The high going back to October is up at 1.33472 and 1.3345.
Pres. Trump: US continues to talk to China. They want to make a deal.
Pres. Trump is speaking on the White House lawn before heading to Austin Texas for tour of the Apple facility and says:
Major European indices ending the session lower
The major European indices are ending the session lower. That is the bad news. The good news is some of the major indices are well off their session lows and closing near session highs.
AUDUSD tests lows for the day and below the 100 hour MA
The AUDUSD is another pair that has seen it's share of ups and downs in trading today.
The pair is back down testing the low for the day at 0.6800 and in the process is moving back below the 100 hour MA at 0.68033. Earlier in the day,
Oil jumps as US petroleum inventory data tighter than expected
Oil cheered the weekly US inventory data in a rebound after a sharp drop yesterday.
Crude touched a low today of $54.76 but was trading nearly a dollar higher just before the data. The market was braced for a large build in supplies after the American Petroleum Institute announced a nearly 6 million
Nasdaq reverses declines. S&P and Dow lag.
The NASDAQ index has indeed reverse its earlier declines. The low for the day came in at 8540.617. The price just reached a new session high at 8577.473. We currently trade at 8573.50, +2.85 points or 0.03%.
Crude oil inventories 1379K vs 1500K estimate
The weekly crude oil inventories came in with a build less than expectations. The build was 1379K vs 1500K estimate. That was also lower than the API build released last night at 5954K.