The German index went back and forth during the trading session on Monday as traders came back to work with very little in the way of news flow
Blogs
Silver Forecast: Likely to Stay in Range for Short-term
Silver markets have rallied a bit during the trading session on Monday, reaching towards the 50 day EMA as it continues to be a bit of a fulcrum for price.
Gold Forecast: Markets Likely to Have Found Support
Gold markets went back and forth during the trading session with a positive tone on Monday, as the $1700 level offers psychological importance.
WTI Crude Oil Forecast: Continues Selling Off
The West Texas Intermediate Crude Oil market has been very negative to say the least, with the May contract going negative.
EU member states disagreeing on whether coronavirus recovery fund should award grants or loans – official
Reuters reports, citing an EU official on the matter This relates to the proposal from Spain for a €1.5 trillion coronavirus recovery fund that will be financed through perpetual EU debt. This is essentially one of the potential workarounds on the coronabonds issue but it appears to be running into some trouble as well.
Singapore reports another 1,016 coronavirus cases, total confirmed exceeds 10,000 cases
Singapore sees a third straight day of more than 1,000 cases That brings the total confirmed cases in the country to 10,141 cases, although there are 3,593 cases that are classified as active cases i.e. hospitalisations as of yesterday.
European stocks open the day on firmer footing
A positive start to the trading day in Europe – Eurostoxx +0.5% – Germany DAX +1.0% – France CAC 40 +0.3% – UK FTSE +0.6% – Spain IBEX +0.7% This coincides with the more positive risk tones since late Asia Pacific trading, with US futures still sitting about 0.7% higher currently. In the currencies space, […]
France says more than 10 million workers have signed up for temporary unemployment scheme
That is nearly 40% of the working population in the country See here for global coronavirus case data This already accounts for quite a significant portion of the French government's stimulus package, so it'll be interesting to see if they need to add more in due time.
Who gains from low oil prices?
Oil low continues, via Bloomberg. It was hard to believe that oil prices would hit zero. It was even harder to see how oil prices went below zero on the May contract's expiry! With June following where May went, who gains with oil low?
US futures extend gains, up by over 1%
S&P 500 futures now up by 1.1% on the day See here for global coronavirus case data The market is feeling a little more upbeat to start the session and the better risk mood in equities is translating to a weaker dollar in early trades.