US futures are lower by 0.7% and EU markets are trading lower this morning on profit as well taking following yesterday strong rally and following the EU Commission negative estimate for the EU markets, projecting a 8.3% slump in the EU economy this year, with Italy leading the slump with a 11.2% contraction. This outlook is actually a revised one, pointing to a worsen than expected impact on the EU economies despite the various levels of openings over the past 2-months. EU leading index, the EURSXX50 is down 1.01% this morning and the DAX is lower by 1.09%. FX markets is leaning towards the US dollar, trading at 96.98 this morning, up 0.24%. Most markets are trading a narrow range session with no markets moving news on the agenda today. Gold is trading at $1,785 this morning, down 0.46% and Silver is trading at $18.31 per ounce, down 1.45%. Oil is trading lower as well, looking at the $40 support level, down 1.06% as investors fear the spread od the coronavirus will lead to lesser demand and economic activities near-term. Prices are at 40.2 per barrel, ahead of the Inventories numbers set to be released tomorrow.

There is no important news on the agenda Tuesday, (all times EST).


Global Markets 24 hours wrap-up
1 YEAR0.54%-17.53%
Swing report
GOLD1778.540307/71770new position

$1,800 per ounce – that’s the new target for Gold investors as prices float bellow 8-year highs levels.

Both the Nasdaq futures and EU leading index are lower this morning after a negative EU commission report and profit taking following yesterday rally.

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