S&P 500 and Nasdaq are flat this morning after the selloff day yesterday and Asian markets overnight as well as EU markets this morning are sharply lower. The EURSXX50 is trading lower by 1.75% as investors fear the aftermath of the coronavirus financial environment and warnings from Fed Chairman Powell as well as Goldman Sachs warning of a potential 18% pullback in global equities. Despite the warnings the S&P500 is 25% higher from March 23 lows. FX markets took to the US dollar for the third day in a row this week, sending the index to 100.25 this morning while the JPY regained its leading “safe heaven” role, up versus majors across the board. Gold and Silver are higher on the move to safety, Gold is trading at $1,724 this morning and Silver is at $15.77 per ounce, up 0.5% and 0.65% respectively. OIL trades at $26.25 per barrel this morning, up 3.8% after a drop in US stockpiles by 745,000 barrels, the first drop since January 2020 while the EIA projected a 4.1 million barrels increase.
US Unemployment claims at 1:30 am is the important news on the agenda Thursday, (all times GMT).
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EU markets are sharply lower this morning and down for the 4-th day in a row as investors fear the lockout attempts will face a rough economic environment near term.
Oil trades 5% higher at $26.56 per barrel at this morning after a surprise drop in US inventories, for the first time this year.
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