EU equity markets and US futures are in the red this morning as death toll and fears from the spread of the corona virus in the US sent US equity markets sharply lower yesterday. EU markets are 3% lower on average this morning while US futures point to a 2.5% Nasdaq loss. US Markets closed the worst month on record since 1987 and EU markets posted their worst quarter since 2012. The DOW lost 23% of its value and the Nasdaq 14% for the first quarter of 2020. The volatility increase is likely to stay on the table as well, as investors look for the end of the crisis with no clear time-table in sight and recession fear looming for global markets in the back mirror. The dollar continued higher yesterday versus majors and emerging markets as investors fear the slowdown in the US will translate into bankruptcies and high unemployment in emerging markets. The dollar index is at 99.65 this morning, up 0.7%. The strength in the dollar sent other “safe heavens” currencies, the CHF and JPY lower, while Gold is at $1,606 this morning and Silver at $14.16, both marginally higher. Oil trades above the $20 level this morning ahead of the Inventories number today in the afternoon, a potential trigger for more downside as inventories are at all-time highs and demand likely to plummet further near term.

US ADP Non-Farm at 12:30 pm, US ISM Manufacturing index at 2:00 pm and US Oil Inventories at 3:30 pm are the important news on the agenda Wednesday, (all times GMT). 


Global Markets 24 hours wrap-up
1 YEAR-17.54%-25.4%-21.48%-20.65%-16.01%-7.52%
Swing report
OIL22.7515262527/321stopped out
OPEN PROFIT  $220   

The EURSXX50 closed the worst quarter for EU markets since 2012, down 23.03% and investors fear the bottom is not in sight yet for the troubled Spanish and Italian markets. 

The dollar index is higher this morning as investors stay away from the growth currencies and emerging markets fearing more trouble globaly from the corona outbreak and recession fears loom. 

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.