S&P500 and Nasdaq Futures are trading an average 1.3% higher this morning and EU markets are mixed as the global lifting process is ongoing and global markets slowly step out from the corona lockdowns. The push by US President Trump towards reopening and the positive US/EU reaction will be key for investors near term as markets deal with a bleak economic environment and an unclear recovery path. The dollar index is again stronger this morning, trading at 100.22, up 0.1% and up for the 5th day in a row. The sterling and euro are weak this morning while the JPY is trading at 3-month highs versus the dollar. Gold is at $1,698 per ounce this morning, up 0.57% on the move to “safety” while Silver up 0.99% and trading at $15.15 per ounce. Oil is trading at 2-week highs $26.4 per barrel, up 12.3%, busted by positive China export news and expectation for some demand recovery after some markets already opened and for OPEC+ production cuts to affect inventories near term as well as expectations for US production cuts near term.
US Unemployment Claims at 1:30 pm and ECB President Lagarde speech at 3:00 pm are the important news on the agenda Thursday, (all times GMT).
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OIL is at 14-day highs and up 12% this morning busted by positive China export news and expectations of demand rebound in US and EU markets.
Nasdaq futures are up sharply this morning ahead of the Jobless Claims number at 8:30 am.
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