Global futures are sharply lower this morning after another setback in the corona virus crisis following fresh reports of the virus spreading into Europe and South Korea. The S&P Asian ASX 200 index is 2.25% lower this morning and Nasdaq futures are down near 2% as well. The dollar index is back on track after a big pullback Friday and is up 0.4% this morning. EU equity markets are looking at a red open as well after the corona spread into Italy, the EURSXX50 is down 100 points this morning, nearing a 3% loss. Oil prices are opening the trading day with an expected pullback as well, trading at $52 this morning, down 2.62% as investors fear the slowdown in demand will affect EU markets near term and Chinese factories rebound following the corona virus production slowdown unclear. The winners over the weekend are clearly Gold and Silver investors, that’s after a gap up of 1.6% in Gold prices this morning, trading at 9-year highs this morning at $1,668 per ounce while Silver is trading at $18.62per ounce, up 0.64%.
German IFO Business Climate at 9:00 am is the important news on the agenda Monday, (all times GMT).
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Gold at 9-year highs this morning as investors move out of global equity markets looking for safety near term as the corona virus spreads into Italy and South Korea.
The EURSXX50 and OIL futures trade sharply lower this morning on corona virus fears.
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