The S&P 500 futures and EU markets are trading marginally lower this morning, that’s ahead of the ECB Press Conference that’s scheduled for 8:30 am US. Investors will be looking for additional EU stimulus plans and maybe for a revision of its inflation base targets, following the FED policy on inflation near term. The dollar is losing ground ahead of the ECB meeting, the dollar index is trading at 93.11 this morning, down 0.25% while Euro investors are on guard for the ECB press conference and near-term policies news. Gold and Silver are trading marginally higher on the weaker dollar, Gold is trading at $1,949 per ounce, up 0.25% and Silver trades at $26.96 per ounce, up 0.68%. Oil reversed lower again this morning ahead of the Inventories numbers set to be released today at 11:00 am, after a survey showed an increase in US stockpiles of 3 million barrels, versus expectations of a decrease of 1.4 million barrels. That’s another red flag for crude demand near term, as investors fear the increase in coronavirus cases will have a negative effect on prices near term. Oil is trading at $37.36 per barrel this morning, down 1.76%.  

The ECB Rate Statement and Press Conference starting at 7:45 am, US Unemployment Claims at 8:30 am and Oil Inventories at 11:00 am are the important news on the agenda Thursday, (all times EST).

 

Global Markets 24 hours wrap-up
MarketGBPUSDUSDJPYEURJPYEURUSDGOLDOIL
10.9.200.68%-0.01%0.62%0.62%0.22%-1.75%
EURGBPUSDCHFAUDUSDAUDJPYUSDCADSilverNat Gas
0.05%-1%0.43%0.43%-0.44%0.71%-0.9%
Dollar IndexDAXFTSE100CAC40EURSXX50NIKKEI225CSI300
-0.22%0.1%-0.88%-0.33%-0.18%0.88%-0.06%
1 YEAR8.08%-17.68%
-10.04%-5.1%8.62%15.73%
Swing report
TRADEENTRY PRICEPOSITIONOPEN PROFITDATE TRIGGEREDSTOP LOSSUPDATES
NASDAQ11511102,0788/911303stopped out
       
GBPUSD29281-4179/92970 stopped out
       
       
       
OPEN PROFIT  $0   

Oil Inventories release today at 11:00 am US will be the focus for Oil investors trying project if the rebound from 2020 lows is sustainable ahead of another potential leg down in the winter, as coronavirus cases increase worldwide.

Breaking the $1,950 resistance is a good signal for more upside in Gold, retrying to recapture the $2,000 level and benefiting from a weaker dollar near term.

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.