Major US benchmarks slumped Friday, snapping a three-day bullish phase as investors’ focus remains on the economic fallout from the coronavirus pandemic. The Dow Jones Industrial Average declined 915.39 points, or 4.06%; the S&P 500 also erased 88.60 points, or 3.3%, and the tech-heavy Nasdaq 100 concluded lower by 308.75 points, or 3.91%.
Global Markets: Asian Stock Markets : Nikkei up 3.88%, Shanghai Composite up 0.26%, Hang Seng up 0.20%, ASX down 5.30% Commodities : Gold at $1627.45 (-1.44%), Silver at $14.66 (-0.11%), Brent Oil at $26.07 (-1.03%), WTI Oil at $22.72 (+0.53%) Rates : US 10-year yield at 0.796, UK 10-year yield at 0.379, Germany 10-year yield … Continue reading Friday 27th March: Mixed Day in Asian markets.
Key risk events today: Limited. (Previous analysis as well as outside sources – italics) EUR/USD: Dollar trade softened vs. all G10 counterparts Thursday, following weekly US initial claims soaring by nearly 3.3 million, setting a fresh all-time high, due to the coronavirus. With the dollar index languishing sub 100.00, EUR/USD firmed through the widely watched … Continue reading Friday 27th March: Technical Outlook and Review.
Global Markets: Asian Stock Markets : Nikkei down 4.51%, Shanghai Composite down 0.60%, Hang Seng down 0.98%, ASX up 2.30% Commodities : Gold at $1616.60 (-1.03%), Silver at $14.49 (-2.59%), Brent Oil at $26.79 (-2.19%), WTI Oil at $23.73 (-3.10%) Rates : US 10-year yield at 0.813, UK 10-year yield at 0.441, Germany 10-year yield … Continue reading Thursday 26th March: Markets look forward to US unemployment numbers.
Key risk events today: UK Retail Sales m/m; BoE Official Bank Rate Votes, Monetary Policy Summary, Official Bank Rate; US Unemployment Claims; US Final GDP q/q. (Previous analysis as well as outside sources – italics). EUR/USD: Euro bulls remained on the offensive Wednesday as the US dollar index, or DXY, continues its descent, tackling the … Continue reading Thursday 26th March: Pound Trades from Heavyweight Resistance Ahead of BoE
