Global equity markets are ignoring the corona virus scare and the potential slowdown in the second largest economy after another record session in US indexes, led by the technology sector. While energy investors fear the worst and Oil and Natural Gas are trading at record lows and “safe heavens” are flat, the technology sector is thriving, leading higher across the globe. FX markets traded a narrow range session and the dollar index closed near the flat line, at 98.72, as investors move to riskier assets, expecting the corona virus impact to fade. Gold and Silver closed lower on a the move away from safety, Gold is trading at $1,563 this morning and Silver at $17.50. Oil will be in focus for investors today with the release of US Inventories numbers at 10:30 am US. Oil closed higher from 2020 lows yesterday at $49.9 per barrel, off the daily highs yet is looking stronger this morning, trading at $50.8, as corona virus fears subside.
US FED Chairman Powell Senate Testimony at 4:00 pm and Oil Inventories at 4:30 pm are the important news on the agenda Wednesday, (All times GMT).
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Another record session for Nasdaq investors, brushing off the corona scare and up 7 out of the last 8 trading days.
EURSXX futures trail the Nasdaq footsteps, trading at record 2020 highs this morning.
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