S&P500 Futures and Nasdaq futures are 1.3% higher this morning and EU markets are 0.7% higher as well as investors digest the aftershock of negative Oil prices for the May contract and the 50% collapse in prices of the June contracts yesterday. After two negative sessions this week global markets are showing some buying power as focus turns somewhat to earnings season and the gradual lift of the lockdowns in major European cities and expectations of US to lift the lockdowns of some major cities to gradually follow in about 14 days. FX markets are trading a narrow range session so far today other that a move into the AUD, while the dollar index is at 99.7 this morning, marginally lower. Gold and Silver are back in the green after a two-day selloff, Gold is at $1,714 and up 1.55% while Silver is at $14.98 and up 0.65%. Oil inventories are likely to show the biggest pileup ever today at 10:30 am US and prices are still trading at record lows yet off yesterday lows, at $11.9 per barrel this morning for the June contract, up 2.6%.
CAD CPI at 1:30 pm and Oil Inventories at 3:30 pm are the important news on the agenda Wednesday, (all times GMT).
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OIL seems to be rebounding this morning after yesterday collapse as investors await the inventories numbers today at 10:30 am US.
Nasdaq futures are pointing to a higher open after a 3-day pullback as investors eye earnings and positive coronavirus news.
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