Global markets are opening the trading week off their Friday lows and mainland China markets opened 8% lower for the first trading day since the coronavirus outbreak spread. The good news is that the Chinese government decided to inject liquidity into Chinese banking system approximated at 173 billion dollars. Most other Asian markets traded lower however closed of their lows, the Japanese Nikkei dropped 1%, Australia fell 1.35% and South Korean markets closed flat. FX markets are opening the trading week with a move higher in the  dollar index, trading at 97.56 this morning following the biggest loosing day for the index in two months on Friday. The reaction in currency markets remained contained so far, supporting the “safe heavens”, the JPY and CHF. Gold and Silver are trading 1% lower this morning after a strong close of the week Friday, Gold at %1,775 and Silver at $17.75 per ounce respectively. Oil prices fail to stabilize, down 12% for the month of January and trading at $51.5 this morning, at 8-month lows.

UK Manufacturing PMI at 9:30 am and US ISM Manufacturing  PMI at 3:00 pm are the important news on the agenda Monday, (All times GMT).


Global Markets 24 hours wrap-up
1 YEAR16.11%3.79%15.68%14.81%10.5%16.77%
Swing report
EURUSD10461024/11050stopped out
NASDAQ90668203/26000new position

Oil prices still show support on all time frames at the $50 area despite the 12% monthly loss in January.

Nasdaq futures trading off lows this morning, suggesting relief into the first trading day of February.

Warning: The information provided on this page (“the information”) is for instructional purposes only, for enhancing your general knowledge of the capital market in general and using trading methods and the technical analysis method in particular. We hereby clarify that the company, its management, staff, shareholders and agents do not hold investment advisor licenses and/or portfolio manager licenses by any applicable law, and do not pretend to advise any person on the worthiness of buying, selling, holding or investing in securities and other financial assets. The information should not be construed to be a recommendation or opinion, and any person who makes any decision based on the information – does so entirely at their own risk. Be aware that the information cannot serve in lieu of advice which accounts for specific information and needs of an individual, and that investing in securities and financial assets may cause loss. The company, its management, staff and agents may have a personal interest in issues related to the information, and may hold specific securities mentioned in the information, or similar securities. If you use the information, you waive any claim or demand against the company or anyone acting on its behalf.