German Dax test 100 day MA
The major European stock indices are ending the day with solid gains. The provisional closes are showing:
- German Dax, up 1.7%
- France's CAC up 1.5%
- UK's FTSE, up 2%
- Spain's Ibex, up 1.3%
- Italy's FTSE MIB, up 1.16%
- Portugals PSI20 is up 1.48%
Looking at the daily chart of the German Dax, the high for the day reached 11371.74. The 100 day MA (blue line in the chart below) comes in at 11368.40. The price is closing right around the level. The 100 day MA will be a key barometer for the index going forward.
In the 10 year benchmark note sector today, the yields are ending the session mixed. The UK 10 year is trading down -5.1 bps while Italian yields are up 5.9 bps. The rest are +/- 1 bp.
A snapshot of other markets as London/European traders look toward the exit shows:
- Spot gold, up $2 at $1314.32
- WTI crude oil is down -$0.52 at $54.04
US stocks are higher but off the highest levels:
- S&P, up 10 points at 2734.90. The high reached 2738.46. The 200 day MA is at 2741 today
- Nasdaq is up 47 points at 7395.45 (up 0.65%). The high reached 7407.59
- Dow is up 163 points at 25404. The high reached 25422.
In the US debt market, yields are heading lower after a few days of gains:
In the forex, the AUD remains the strongest, while the GBP has raced lower in the NY morning session.The GBPUSD got close to the 100 day MA at 1.2901. The low reached 1.2923 on the first run. The pair is trading around the 50% at 1.29412 currently.
