US S&P 500 futures are lower by 0.45% this morning, Nasdaq futures are down 0.51% and EU markets are trading lower by 1.1% for the EURSX50 and by 1.03% for the German DAX, making it the third day in a row that global markets are trading lower this week. Asian markets closed mixed overnight, the NIKKEI gained 1.14% while the Hang Seng and the CSI 300 closed marginally lower. The dollar in trading at 92.67 this morning, up another 0.21% this morning, at 3-month highs versus majors as investors favor the “safety” of the dollar over stocks and growth currencies. Gold and Silver are trading lower on the stronger dollar, Gold trades at $1,725per ounce, down 0.55% and Silver trades at $24.36 per ounce, down 2.3%. Oil prices are down another 3% this morning, reversing yesterday strong close and trading at $59.11 per barrel as investors worry switch from the Suez Canal blockage disruptions to demand concerns as the number of coronavirus cases surges in Europe, Brazil, and India.
US Unemployment claims at 8:30 am is the important news on the agenda Thursday, (all times EST).
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Oil prices turned sharply lower this morning on coronavirus pickup and global demand concerns, reversing most of all of yesterday gains.
EU markets are 1% lower this morning as lockdown worries are sending investors to the “safety” of the US dollar.
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