US futures are flat this morning and EU markets are trading marginally lower as global investors rethink their strategies in wake of increasing coronavirus global cases. This despite US record coronavirus new cases and increasing fears that the local governments will resume will the lockdowns policies, increasing the chance of another layoff round and increased economic instability. FX markets are flat this morning as well, the dollar is at 96.97, up 0.05% and most other FX markets are trading a flat session. Gold is trading at 2020 record levels this morning, at $1,814 per ounce, up 0.23% and for the first time in 8-years trading over the 1,800 level. Silver is trading at $18.82 per ounce, up 0.69%, at 2020 highs as well. Oil is trading mostly sideways this morning, looking below at the $40 support level, as investors hope the spread od the coronavirus will be offset by the OPEC+ production cuts and by the slow recovery in China and South East Asian markets. WTI is trading at 40.6 per barrel this morning, ahead of the Inventories Numbers set to be released today at 10:30 am US, a number that is going to set the near term path in prices as well as set the demand levels in the US near term..
US Oil Inventories at 10:30 am and US Consumer Credit at 3:00 pm are the important news on the agenda Wednesday, (all times EST).
|Global Markets 24 hours wrap-up|
|TRADE||ENTRY PRICE||POSITION||OPEN PROFIT||DATE TRIGGERED||STOP LOSS||UPDATES|
|GOLD||1778.5||40||990||7/7||1778||SL Changed to entry|
$1,800 per ounce target in Gold reached, for the first time in 8-years Gold traded over the 1,800 level this morning!!
OIL prices hover above the $40 level ahead of the Inventories numbers set to be released today at 10:30 am US.
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