Global equity markets are sharply higher for the third day in a row this week, totally brushing off the coronavirus scare. The Nasdaq is the leader for global equity markets, closing yesterday at all-time highs and adding another 1% in futures trading this morning. FX markets had little reaction to the move higher in equities, the dollar index trades at 98.02 this morning, up marginally on the day yesterday, however safe heavens traded lower across the board.The JPY lost 0.7% versus the dollar and 1.42 versus the AUD and the CHF lost 0.4 versus the dollar. Metals traded sharply lower as well, Gold closed at $1,557 per ounce, down sharply and Silver traded to a $17.6 close. Oil traded lower despite the rebound in global equities, that’s ahead of the Inventories numbers today at 10:30 am US, however prices are sharply higher this morning from 6-month lows after reports that scientists have developed an effective vaccine against the coronavirus. OIL closed at $49.7 per barrel yesterday and is trading at 50.75 this morning following the positive news. .
EU ECB President Lagarde speech at 12:15, US ADP Non-Farm Employment at 1:15 pm, ISM Non-Manufacturing PMI at 1:30 pm and Oil Inventories at 3:30 pm are the important news on the agenda Wednesday, (All times GMT).
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EURSXX50 trades sharply higher this morning as global markets brush off the coronavirus scare.
Nasdaq futures trading to fresh all time highs this morning on technology sector strength.
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