Market News

Precious metals are waking up again, and both gold and silver pushed higher on Wednesday, trying to erase losses from the recent slamdown. 

It looks like everything is back to normal as the USD resumed its decline on Tuesday, which sent US indices notably higher.

US equities were slightly higher during the London session on Monday, while the EURUSD pair hasn't moved anywhere and was glued to the 1.2070/80 zone. 

Traders bought the greenback on Friday, and it was up against all major currencies, excluding the yen.

Nothing is changing in the markets, and US indices are up nearly every day, while the greenback was holding steady after yesterday's bullish day.

It looks like yesterday's dip in US equities will be bought today as all three major US indices were trading stronger during the London session.

At the time of writing, gold was up nearly 1% at around 1,860 USD, silver advanced 2.2% to 25.40 USD, and oil rallied to 53 USD. 

The new week kicked off in a risk-off environment as basically everything was sold-off - metals, commodities, indices, and higher-yielding currencies. Traders bought the USD and UST.

Nothing seems to be changing in the markets. Stocks are rising every day, while metals are plunging again. 

Wednesday saw some massive gains across the equity markets (tech underperformed), while the USD slipped and precious metals cratered. 

Equity markets were consolidating on Tuesday and were trying to correct some of their yesterday's losses as steep selling hit the markets during the US session.

The New Year has started in an old fashioned way - the USD remained under pressure, equities continued to rise, and metals are finally waking up from their long slumber. 

The US reported its first case of the new COVID strain, the mutant variant that is 70% more transmissible, in a person who does not have any significant travel history.

S&P 500 futures recorded a well-deserved all-time high gain, nearing the 3740 mark.

US President Donald Trump has signed the massive 2.3 trillion USD COVID-19 relief stimulus bill, in an attempt to save off partial government shutdown.
 

The US dollar came under pressure on Wednesday, with the EURUSD pair climbing back toward the 1.22 level. 

It looks like yesterday's events are already forgotten, with stock markets erasing most of yesterday's morning large decline during the US session. Today, the US and EU indices are advancing again. 

It looks like another volatile week, with Monday's trading already off the charts for some assets.

Friday looks to be a calm day, and equity markets were consolidating after this week's rally, which brought the US indices to new record highs. 

The pound has been rising nonstop since Monday, and it is up 360 pips from Friday's close, with the GBPUSD pair trading 0.5% stronger on Thursday, seen at around 1.3570.

Precious metals rose notably on Tuesday, and it looks like their medium-term bearish trends might be over for now as fundamentals still point to further upside.

European equities continued their drift higher, and the German DAX was up 0.65% during the London session, while US indices were also stronger. 

The euro continued in its bullish tracks and the  EURUSD pair was trading nearly half a percent stronger during the morning session on Monday, last seen at around 1.2150.

British Prime Minister Boris Johnson said on Thursday there was "a strong possibility" Britain and the EU would fail to strike a trade deal. His words were ignored, and equities continued to rise, with the FTSE 100 index climbing to nine-month highs.

The EURUSD pair was trading around the 1.21 threshold on Thursday morning as investors await the ECB monetary policy decision, due later in the day.

Wednesday has brought a negative session for metals, which were down notably, despite the US dollar index's weakness. Gold was 0.5% weaker during the London session, while silver slipped 1%.

The greenback has stopped its decline this week and managed to book tiny gains during the morning EU session on Tuesday.

Commodities dropped notably on Monday, and the WTI oil was down 1.50%, silver 1.35%, copper was losing 1%, and gold was 0.20% weaker during the London session as the USD managed to book small gains after last week's massive decline.

The US dollar has been flat against most of the other major currencies on Friday, with the EURUSD pair changing hands at around 1.2150, the USDJPY pair was spotted near 103.80, and the so-called cable traded near 1.3440.

It would appear that precious metals are finally awake from their recent slumber and both gold and silver are up strongly from their Monday's gains. 

Most US indices rose to new all-time highs on Tuesday, with the tech-heavy Nasdaq 100 index leading the way, rising to 12,500 USD before trimming some of the gains. 

The greenback was trading lower against all of the other major currencies, yen excluding, and the EURUSD pair was attacking the 1.20 level again.

Monday has brought selling to nearly each asset class - equities were down circa 1% during the London session, metals plunged much more, confirming their bearish trends, and the USD was also trading weaker against most of its counterparts.

Bears continued to dominate the market in light of tepid economic data from Germany and a soft tone from EU indices.
 

The USD managed to hold above the psychological level of 1.1900 following the release of US macro data.

Significant improvement in global risk appetite gave many currencies like the AUD a much-needed boost.
 

Out of the USD’s major counterparts, the GBP was the most active yesterday.

US index Dow Jones settled at a lower price following the reduction in economic aid in light of rising COVID cases.
 

The USD was trading somewhat lower on Friday, while stocks rose on Thursday and continued to be bid today. 

It has not been a good week for precious metals as both gold and silver are down notably this week, with gold looking especially bearish as the metal is dropping toward the key support of 1,850 USD again.

The greenback has been dropping for five consecutive days now, and the dollar index was down 0.2% on Wednesday. It was trading at around 92.25 during the morning session.

On Monday, the Asian session brought back the positive sentiment, and investors cheered new data from Japan and China.

The United States has reported fresh daily records for new Covid-19 case hospitalizations this week, and Biden's administration is already calling for a 6-week national lockdown to stop the spread.

It looks like today's trading will be with a bearish preference as major indices were trading circa 1% lower during the London session. 

Nothing unusual here as we are used to seeing vertical moves in stocks. French CAC is up 20% from its November lows (yes, +20% in two weeks), despite the country entering a hard lockdown a couple of days ago.

Yesterday's massive rally was sparked by the news that the vaccine developed by Pfizer seems to be 90% effective in the latest trials, meaning 9 out of 10 patients developed a strong immunity reaction.

Nothing unusual this week, and US equity indices are rising vertically again, with the Nasdaq 100 index up nearly 2% during the London session, trading somewhat below the all-time highs posted in September. At this rate, the index will post new highs in one or two hours. 

The greenback has been sharply lower this week, and its demise continued on Friday. The EURUSD pair was up 0.20% near 1.1850, cable was trading at around 1.3150, and the USDJPY pair fell toward the 103 threshold.

So far, it looks like Joe Biden will be the next American president. However, fraudulent behavior has been reported from 2-3 key states.

The long wait is finally over, and this year's elections are behind us. Slowly, results are coming in, and markets jump up and down as the winner will most likely win by only a tight margin.

Finally, the day we have been waiting for is here! Today, the US elections will take place..

The FX market was with a slight preference of the USD on Monday morning, with the EURUSD pair continuing down toward the 1.16 level.

It seems that this is one of the worst weeks for stock markets since the March disaster. On Friday. major indices were down another 1% and were trading at fresh weekly lows.

European indices dropped sharply on Wednesday - the DAX closed 4.2% lower, the CAC dropped 3.4%, and the FTSE index declined 2.6%.

The greenback erased yesterday's losses in the last hour of trading and continued to rally today, with the EURUSD pair dropping below the 1.18 level again. 

For a while, it looked like equities will try to erase some of yesterday's losses as indices opened the London session half a percent stronger. However, a strong selling wave then occurred, and EU bourses dived into 0.5% losses shortly after the open. 

The risk-off sentiment characterized Monday's trading, and US indices were down more than 1% during the London session. EU bourses were trading 2-3% lower as most of the companies in those indices are from the cyclical sector, which is slowly (or quickly) going bankrupt.

It looks like another risk-off day on Friday as indices are down, while the USD is stronger, heading into the London session.

US equity indices are down yet again on Thursday, and the main benchmarks are sliding 0.5% during the EU session. Moreover, indices are down for 7-8 consecutive days, which is rather unusual. 

Wednesday started with a bullish mood, and US equity indices were up nearly 1%, while EU bourses were expected to open half a percent strong. 

US indices were trading higher ahead of the London session as traders bought the dip. However, the bearish mindset seems to be prevailing for now, and indices are down for six consecutive days, completing erasing last Monday's massive rally.

Traders bought equities on Monday, and stocks erased Friday's losses, with the Nasdaq 100 index trading nearly 1% higher. The Dow and SP500 were up more than half a percent, and European exchanges were underperforming slightly.

Friday has brought with it some consolidation, and US equity futures are trading flat during the London session, and so is the greenback.

US equities were down for the third day, which is unusual nowadays. Indices futures were half a percent lower during the London session, erasing Monday's gains. 
 

It looks like Wednesday will be a bullish day for stocks, and yesterday's decline is already nearly erased. US futures are up half a percent during the Londons session.

Traders took some profits from yesterday's massive rally in stock indices, and Tuesday saw some selling early in the EU morning.

The US stocks are up for the fourth consecutive day, with indices trading higher during the London session.

Another day, another rally in the equity futures. US benchmarks are up 0.3% during the EU session and continue in their strong bullish momentum started on Wednesday.

Tuesday's large decline has already been completely forgotten and erased, with US indices gaining another 0.5% on Thursday, continuing higher after Wednesday's 2% gains.

Donald Trump sent stocks sharply lower late Tuesday when he tweeted that he has negotiations over a new coronavirus aid package.

Stock futures remained somewhat lower on Tuesday, and they were consolidation after yesterday's huge rally. The SP500 index was trying to defend the 3,400 USD level, while the Dow was trying to stay above 28,000 USD. 

It looks like Friday's correction didn't last for a day, and US equity futures are back where they started on Friday as news broke out about Trump's condition.

Equities around the world plunged on Friday, and EU bourses were set to open 1% lower. The US benchmarks were down 1.5% during the Frankfurt session as President Donald Trump, and his wife Melania have tested positive for the coronavirus.

Another day, another stimulus talks and another strong rally in equities. It seems there really is no other driver of the stock markets apart from stimulus - either fiscal or monetary. 

Wednesday has brought with it another decline of EU stocks, which continued to erase Monday's gains. Moreover, US equity futures were down nearly 1% ahead of the London session as yesterday's pause in Monday's rally brought more bears to the market.

Stock markets across the globe rose sharply on Monday despite the worsening COVID situation as the US's new stimulus overshadowed everything else. 

The greenback slid on Monday, while equity indices rose notably as sentiment improved over the weekend. US stock futures were up more than half a percent during the London session, with EU bourses also opening notably stronger. 

The greenback failed to hold gains on Thursday and many USD pairs turned lower during the US session, which could imply the latest appreciation of the buck might be over. 

The US indices plunged on Wednesday and continued to trade weaker on Thursday, but EU bourses rose during the London session.

It has been a bad week for precious metal so far, and both gold and silver continued to decline on Wednesday. Silver was down another 4%, trading at 23.45 USD, with gold sliding 1% to trade near 1,880 USD.

Yesterday's sharp losses (although cut considerably in the last hour of US trading) continued on Tuesday, and market indices were seen half a percent lower ahead of the London session.

Equity markets came under selling pressure again on Monday, and US indices were down circa half a percent, while EU bourses were expected to open nearly a 1% lower.

Equity markets were flat during the London session on Friday as volatility decreased after Thursday's decline. 

It was an unusual sight this morning for EU traders as they came to their desks and saw equity futures down nearly 2% - we are certainly not used to see that!

Volatility has been lower so far on Wednesday, and equity indices were up only marginally during the London session. 

Traders bought US equity futures again on Tuesday, and indices were trading half a percent higher during the London session as the recent correction seems to be over. 

How easy is that? Indices are up 1.5% during the London session on Monday after AstraZeneca announced Saturday that it had resumed phase 3 trials of its Covid-19 vaccine candidate, which it is developing with the University of Oxford.

Friday looks like an optimistic day and markets are in a risk-on regime once again.

Wednesday was a very bullish day for equities worldwide, and major indices posted huge gains between 2-4%. We will see if the buying continues today as investors will pay attention to the ECB meeting.

Yesterday was a negative day for the financial markets and stocks; oil crashed hand in hand. The WTI benchmark lost circa 6% and the Brent oil +- the same. 

The greenback was trading somewhat lower on Tuesday morning, with the EURUSD pair hovering above 1.18, and the USDJPY pair was seen slightly above 106.

Earlier in the day, German industrial production for July rose only 1.2% monthly, well below 4.8% expected and below 9.3% scored in June. The year-over-year change remained weak at -10%, slightly better than -11.4% in June, but analysts had expected +12.1%.

Thursday saw some massive selling in the equity markets, and nearly all of the major stocks fell sharply. 

The EU indices were rising again on Thursday, with the German DAX up half a percent. The US indices were lagging, although futures were indicating at another bullish open. 

Nothing new is happening - the US dollar continues to be under pressure, although with a little pause on Wednesday, while US equity markets are going vertical. 

US equity indices were trading 0.3% higher on Monday morning, while the EU exchanges were also stronger heading into the opening bell.

Another day, another record highs. This could be put on a copy-paste rotation as markets are rallying each day, without any hesitation.

Volatility has been lower so far on Thursday, and indices were marginally lower, correcting some of yesterday's huge gains as two major macro events are on the agenda today.

US equities continue to reach new record highs every day, while other markets are calmer. On Wednesday, equity indices were trading marginally lower during the London session, while EU bourses were more bearish.

US benchmarks were 0.7% higher, while EU bourses opened 1% stronger on Tuesday morning.

The new week is staring in a bullish mode (how unexpected), and equities across the globe are seen notably higher, with US futures up half a percent and EU exchanges opening circa one percent stronger. 

The single currency was trading nearly half a percent weaker on Friday, with the EURUSD pair hovering near 1.1810 as traders digested the latest PMI numbers across the eurozone.

Thursday saw a negative open for equity indices, and US benchmarks were down half a percent, while the EU bourses opened circa 1% lower. However, the dip will most likely be temporary, and dip buyers are expected to emerge soon.

Stocks rocketed higher on Tuesday, and the SP500 index, along with the Nasdaq index, rose to new all-time highs. The Dow lagged. 

The US-China relations have deteriorated yet again as the Trump administration stated Monday that it would further tighten restrictions on China's Huawei Technologies, cracking down on its access to commercially available chips.

There has not been huge volatility so far on Monday, and most of the markets were calm or with only a marginal daily difference during the Frankfurt session.

On Wednesday, the SP500 index reached new all-time highs but failed to close there as the index slipped during the final hour. However, we can expect new highs today as equities are rising every day now. 

Tuesday was a negative day for US stocks as indices erased all intraday gains and dropped sharply in the last hours of trading. However, this is all a forgotten history as futures are up 1% during the London session on Wednesday.

Nothing new here - move along. Equities were bid again, and US indices were trading half a percent stronger in the Frankurt session on Tuesday as there was no obvious catalyst, but the bullish momentum was clearly enough. 

The greenback was trading unchanged against most of its major peers, with the EURUSD pair hovering near 1.1780, and the USDJPY pair was spotted rising toward the 106 level.

Stock markets around the globe slipped on Friday, and investors took some profits from the recent massive rally, with E.U. and U.S. indices trading half a percent lower during the Frankfurt session.

The incredible bullish trend in precious metals continued on Thursday, with gold rising another half a percent to 2,050 USD, while silver has rocketed more than 3% so far on the day, trading below the 28 USD level. 

As the US dollar continues to fall, precious metals are rising sharply. Earlier in the day, the EURUSD pair rose back toward the 1.19 mark, which helped to renew the buying frenzy in gold and silver and metals roared higher.

On Thursday, GDP data for both Germany and the U.S. showed catastrophic drops in growth, printing the worst numbers on record, which were caused by the lockdowns imposed to tackle the coronavirus pandemic.

Sentiment seemed negative on Thursday morning, and stocks corrected their yesterday's gains, while the US dollar advanced a little. 

The greenback came under renewed selling pressure on Wednesday and the EURUSD pair was up 0.3% during the Frankfurt session, changing hands at 1.1750. The USDJPY pair fell below 105, but precious metals were flat today (so far), with silver spotted near 24.40 USD and gold at around 1.960 USD.

The price of gold continued to shoot higher during the Asian session and was seen reaching new record highs near 1,950 USD, before giving up those gains and dropping to 1,910 USD. Silver followed the sell-off and was trading more than 6% lower during EU trading hours.

Monday started on a positive note, and stock indices were trading stronger, although the EU session is already seeing some selling. 

Friday started with a bearish sentiment as stock indices were already 1% weaker during the London session, and it seems like the negative sentiment could persist throughout the whole day.

Equity indices turned higher on Thursday, with EU and US futures rising circa 0.5% during the Frankfurt session. 

The Euro remained above the 1.15 threshold against the greenback and it was seen somewhat higher on Wednesday during the London session. The pair managed to break above the March top and was trading at 18-month highs. 

Tuesday has brought renewed optimism that all will be well, and investors bought equities, while JPY crosses and commodity-linked currencies were bid too.

Stock markets are dropping notably on Monday, amid disappointment that the EU leaders have failed to come to an agreement over additional stimulus as coronavirus case numbers continue to rise globally. 

European Union leaders meet later Friday to seek agreement over a proposed recovery fund to help the countries hard hit by the coronavirus outbreak to rebuild.

Stock indices corrected yesterday's gains and were seen 0.5 - 1.0% weaker during Frankfurt and London trading hours.

Indices futures rose sharply, and both the U.S. dollar and the Japanese yen plunged following some positive vaccine news on late Tuesday. 

Yesterday was quite a volatile day. US stock indices were trading 1.5% to 2.0% higher with only 2 hours to go for the day when the Fed's Kaplan said the US central bank might start scaling back its QE program as the US economy is doing pretty well. 

Stock benchmarks across the globe rose during the Asian session on Monday, with E.U. bourses set to open 1% higher, and U.S. equity futures were seen half a percent stronger. 

Equity futures dived on Friday and EU bourses were lower by 1%, while US indices were a bit strong, trading down 0.8% shortly after London opened for trading.

Sentiment during the EU session was not very bullish and indices fell slightly, erasing part of yesterday's gains. 

Equities are trying to start the EU session slightly positive as the intraday dip was bought. However, the upside momentum seems to be lacking following yesterday\s sell-off.
 

Euphoria is back! Markets surged on Monday as traders eyed the coronavirus developments over the weekend. Since US cases slowed somewhat, it seemed to be enough to fuel another strong rally. 

The Asian session continued in the risk-on sentiment, and equity futures rose half a percent, heading into the European session. The greenback was trading flat against most of the major currencies, with the EURUSD pair seen near 1.1240, and the USDJPY pair was unchanged at 107.50.

The risk-on sentiment persisted throughout the Asian session and equity indices are trading half a percent higher during the early London session. 

European stocks opened slightly lower on Wednesday, with the second half of the year starting with worries about the Covid-19 outbreak still prominent even as data releases offer hope of a global economic recovery.

Sentiment remained positive during overnight trading hours, with equities rising slowly and commodity-linked currencies also seen stronger heading into EU hours.

The last week of June started on a bearish side as stock indices opened with another bearish gap, and the Dow Jones index was testing 25,000 USD to the downside, while the SP500 index was trying to defend the 3,000 USD level. If these levels are broken to the downside, a steeper correction could occur.

Equities plunged into negative territory on Friday as Thursday's rally was sold into, and it looks like a bearish trap. Indices were down 1-2% across the board shortly after the US opening bell. 

Thursday started as another risk-off day and equities dived, mainly due to continuous rise in COVID cases in the US, but the dip was bought and indices were trading flattish during the US session.

The US dollar bid on Wednesday, while stock indices dropped 1-2% as a fresh risk-off wave hit the markets. 

Stocks were soaring on Tuesday and EU indices were 2% higher, while the US benchmarks traded 1% stronger ahead of the US opening bell. 

Stocks were volatile today but managed to erase a large bearish gap on Sunday evening as investors bought the dip.

Traders bought the US dollar on Thursday and it was advancing against other major currencies, with the EURUSD pair dropping toward the 1.12 threshold. Commodity-linked currencies were the weakest today.  

The US equities were fighting to stay in a positive territory shortly after the US opening bell as the morning rally was met with selling pressure after the open (as usual).

Investors once again piled into equities, and yesterday's decline was quickly erased as US indices were seen trading nearly 2% stronger on Tuesday.

Equities dived on Monday, and indices were down 3% during the London session. However, they managed to recover some of the losses to trade off their daily highs during the U.S. session.

Traders bought the dip in US equities, but as usual, the opening bullish gaps are sold and Friday was no exception, with indices quickly paring gains during the US session.

Global stock indices were down 2-3% on Thursday, and they continued to slide since Tuesday's reversal as there has been some bad news for investors, and the Fed failed to inspire more buying in the overbought markets. 

Traders took profits from the recent massive rally in equities and the SP500 index and Dow Jones indices were trading sharply lower on Wednesday, down two days in a row, while the Nasdaq 100 index continued to march higher after breaching the 10,000 USD threshold. 

Equities across the globe took a hit on Tuesday, and the main indices were down 1-2% ahead of the US session as traders took some profits from the recent euphoric rally. 

The new started on a positive note, and equities surged again, with the EURUSD pair defending the 1.13 level for now. 

What a surprise! The greenback advanced, stocks rocketed higher, and bonds were sold-off heavily (yields spiked) as May's labor market report shocked positively.

The EURUSD pair along with the German DAX rocketed higher after the ECB decision, but failed to hold gains and both instruments were quickly sold-off to daily lows.

The EURUSD pair was still holding above the 1.12 barrier on Wednesday afternoon, as many US data were released today. US equities continued to roll higher, with the Nasdaq 100 index just shy off the all-time highs. 

The greenback was sold broadly on Tuesday,, and the EURUSD pair pushed above the critical resistance level of 1.1150. As long as the euro remains above this level, the immediate outlook seems bullish.

On Friday, June 5th the Non-Farm Payroll (NFP) will be released and the US economy is expected to shed another 10 million jobs. This would be half of April’s 20 million, but still an incredibly high number.NFP reports since the COVID-19 lockdown have reported unprecedented numbers of unemployment which reflect negatively on the United States economy.

Traders sold equities and bought the greenback on Monday as risk sentiment soured due to US riots and worsening China-US diplomatic relationship.

Friday seemed to be a negative day for equities as investors braced for President Donald Trump’s response to China’s national security legislation for Hong Kong, threatening to take the shine off a monster week - and month - for Wall Street, which pushed the S&P above 3,000 and the 200 DMA for the first time since March.

The Dow Jones index was the best performing US index on Thursday and was trading more than half a percent stronger ahead of the US opening bell. Boeing Co climbed 4.2% after the planemaker said it had resumed production of its 737 MAX passenger jet at its Washington plant.

It started as another very bullish day as indices rose sharply during the Asian and E.U. session, only to be sold-off like crazy once the U.S. exchanges opened for trading. 

It has been a volatile session on Tuesday and the Nasdaq 100 index erased all the daily gains and turned lower after the US opening bell, while the SP500 and Dow Jones indices were trading more than 1% stronger.

US benchmarks were 1% lower in the morning, but dip buyers reappeared and the decline was quickly erased, with indices now slightly higher on the day ahead of the US opening bell.

Major equity benchmarks were down ahead of the US opening bell, with indices correcting Wednesday's gains. 
 

U.S. equities rocketed higher on Wednesday, with both the SP500 and Nasdaq 100 indices posting new swing highs, which could be a confirmation of an ongoing bullish trend. 

US indices were jumping up and down on Tuesday, with the Nasdaq 100 index half a percent higher after the opening bell, while the SP500 and Dow Jones indices were seen slightly lower. 

All three US equity benchmarks were strongly higher today and they were trading 3% stronger during the US session. EU indices also rose notably. 

The greenback was sold-off notably on Friday and the EURUSD pair jumped to 1.0850, while the USDJPY pair slid below the 107 threshold.

The greenback was trading broadly higher on Thursday as traders were relieved from fears of negative rates coming to the US.

Tuesday's sell-off in equities continued on Wednesday, and the SP500 and Dow Jones indices were trading half a percent lower, while the tech Nasdaq 100 index fought to stay in positive territory.

The EURUSD pair was trading 0.6% higher on Tuesday, as weak US inflation undermined the greenback. The USD was down against most of the major currencies.
 

Monday has not brought any meaningful news, apart from the fact that there has been an uptick in new coronavirus infections in Germany and South Korea. 

Much has been said about the current state of the US labor market. Economists expect the non-farm payrolls (NFP) number to decline to -22 million for April, down from -701k scored in March. There has never been such a substantial drop in jobs, and these times are truly unprecedented. The unemployment rate is forecast to rise to 14% from 4.4% previously, but as we speculated earlier, the real number will most likely be far worse. We expect the unemployment rate to reach 23%. 

 

Equities accelerated higher today after batch of positive macro news and US indices were trading 2-3% higher during the US session.

The EURUSD pair was trading nearly half a percent weaker on the day, hovering at around 1.08 during the US session, while the GBPUSD pair was seen at around 1.2350, some 65 pips lower on the day. The USDJPY pair was also under pressure and dropped 0.4% to 106.00.

On Friday, May 8th the Non Farm Payroll (NFP) will be released for the second time since the COVID-19 lockdown and traders are on alert!

Traders bought equities yet again on Tuesday and the three US benchmarks were seen nearly 2% higher shortly after the US opening bell.

Market conditions are pointing towards a couple of unstable weeks ahead for the WTI benchmark which is why at Axiory we acted fast and added Brent Oil to your choices of energy assets.

Another day, another strong rally in the equity markets. The SP500 index was up 2.15%, while the Nasdaq 100 index advanced 3% at the time of writing. EU indices were 2-3% higher as well.

Stocks were slammed and the EURUSD pair dropped circa 60 pips from daily highs and was trading at around 1.0830 during the US session on Tuesday as the greenback rallied strongly after weak US data.

The greenback traded slightly lower against a basket of currencies as traders reacted to the latest US economic numbers.

Traders sold the greenback on Thursday and it erased earlier gains as the US jobs market continued to deteriorate, but equity investors pushed the indices sharply higher.

With the historic crash of West Texas Intermediate (WTI) crude oil futures, dropping below $0 on Monday, April 20th, traders are frantically looking for their next move. You can take advantage of the market without incurring extraordinary high risk - Tomasz Wisniewski has all the details in the video.

On Monday, US West Texas Intermediary (WTI) oil cratered to -40 USD a barrel. This isn’t a joke – oil traded in negative territory for the first time in history, just a week after the price was at 25 USD a barrel.
 

The price of the WTI oil dropped 40% on Monday and traded at around 11 USD, which are levels last seen in 1998. Moreover, today's crash was the biggest on record.

US equities surged yet another day and indices were up 2-3% percent on Friday as investors cheered the possibilities of the US states reopening their economies. Moreover, news about the Remdesivir drug being effective for COVID treatment lifted stocks as well.

US indices staged another rally on Thursday as US jobless claims continued to point to a steep rise in the unemployment rate. 

The US dollar was bid on Wednesday and was trading higher against other major currencies, with the EURUSD pair down 1% during the afternoon session, changing hands at around 1.0870.

Traders sold oil on Tuesday, despite the recent historic OPEC+ deal to cut production and the WTI benchmark was down 6% during the US session, quickly dropping toward the 20 USD threshold again.
 

US equitires roared higher again on Thursday and the SP500 index was trading 2% higher after another batch of very negative fundamental news. 

Wednesday has brought with it another day of volatility, and equities jumped up and down, with bulls a bit cautious after yesterday's significant reversal.

All it needed for a 5% rally in indices was a small decline in US coronavirus deaths over the weekend (despite many analysts calling this decline false and underreported), and the markets rallied sharply.

US equities shot higher on Friday and erased all the intraday losses after the worst non-farm payrolls print since the financial crisis.

The EURUSD pair declined 1% on Thursday and was trading at around 1.0850 during the US session as investors once again sought the safety of the US dollar. 

Risk-off sentiment returned on Wednesday, and investors sold into the latest stock market' rally. 

US equity benchmarks declined somewhat on Tuesday, but remained strongly higher on the week, with all three major indices down circa 1% during the US session.

The big standout during the European trading was oil, which took another eyewatering 8% tumble on Monday, with some now expecting the price to drop to zero (or negative) as storage facilities fill up. The rout in oil took crude to its lowest since 2002.

Equities across the globe exploded higher on Thursday and US benchmarks were seen 4% stronger, while EU indices were also trading with gains, ranging from 1 to 4%. 

Earlier in the day, the WTI oil plunged back to a 23 USD handle after the boss of Vitol Group said demand is down about 15 million to 20 million barrels a day and will shrink further with India’s decision to go into lockdown.

The EURUSD pair was trading 1% higher on Tuesday as the global demand for the greenback eased slightly and the euro managed to crawl back above the 1.08 threshold.

US stock futures hit the limit down on late Sunday again as the US congress failed to approve the massive financial aid.

Traders have been massively buying the US dollar over the previous days, which sent the dollar index to new record highs. The USDJPY pair was trading 1.5% stronger during the US session on Thursday, testing the 110 threshold to the upside. 

March 19th 2020 | 4 PM CET
Learn how to trade in times of instability

All four major US equity benchmarks opened circa 7% lower on Thursday, which immediately led to a 15 minutes halt in trading as circuit breakers were triggered. After the stop, indices surged sharply, but failed to hold those gains and are now slowly (or rather quickly) dropping toward daily lows.

In a surprising move, the USDJPY pair skyrocketed higher and was trading more than 2% stronger during the US session, last seen at around 104.50. The greenback effectively erased Monday's losses and closed the bearish gap. What happens now should be crucial for the near-term future here.

Monday marked one of the worst days in the history as oil crashed 30% and equity indices were down 7-10% across the globe, which seems to be the worst weekend, or at least the similarly bad to the infamous Lehman weekend. 

Learn how to trade in times of instability
Let’s get real - spreading of Coronavirus doesn’t seem to lose its grip on the financial markets.”Safe haven” assets such as Gold, Stocks, or USD are falling down sharply and the same goes for Oil, or Bitcoin. Axiory is here to keep its traders safe and secure. This webinar will show you how.