Audio recap: Solid China trade data and optimism around the emergence from lockdowns in France, Italy and Spain, have helped to bolster market sentiment on Tuesday, though the picture is still very unclear with respect to the coronavirus damage to the global economy.
Blogs
Gold climbs another $24 in fourth straight day of gains
Gold benefits from US dollar weakness, falling volatility Gold is now up 20% from the March lows in what's largely been a one-way move. Yesterday we broke above the March high to the best levels since 2012 and now there is
S&P index gaps above its 50% retracement and starts to work on other upside targets.
S&P index starts to work on topside target The S&P index is currently trading up 72 points or 2.64% at 2834.63. Take a look at the daily chart, the price has gapped above its 50% retracement at 2792.69. And also moved above the high price from last week at 2818.57 and the swin
Pelosi: House Democrats can't accept McConnell's proposals on 4th stimulus
Statement from House majority leader Nancy Pelosi The small business giveaways are going to run out in no time and the companies who are left out are going to be ticked off.
UK reports 778 new hospital virus deaths vs 717 yesterday
UK coronavirus numbers The jump in cases is probably because of the Sunday effect. For whatever reason, the numbers reported on Mondays are always undercounted.
Major indices open with solid gains
S&P up near 50 points Dow up over 400 points a few minutes into the opening and US stocks are enjoying a solid gains to the upside. Looking at the major indices:
G7 statement: Reaffirm close coordination to fight pandemic and mitigate impact
G7 fin mins and central bankers The call seems to be focused on some debt deferments for heavily-indebted developing countries. ForexLive
GBPUSD buyers lean against a lower trend line today and bounces. Resistance on daily chart eyed.
Lower trend line currently comes in at 1.2536. That bullish bias was helped yesterday after the pair broke above a swing ceiling at 1.24717 to 1.2484. The corrective move back down toward that swing area stalled the fall. The price based and moved higher into the New York afternoon. In the Asian session today, the […]
ECB's Vasiliauskas: It's the right time for coronabonds
ECB governing council member calls for shared debt Vitas Vasiliauskas he favours a "broader perspective" on ECB corporate purchases. ForexLive
USDJPYs break lower may be failing
Break on the hourly below the 107.31 failing? The USDJPY moved to a new session low to 107.234 helped by the overall USD selling momentum and despite the premarket rise in US stocks. The Dow industrial average futures are currently implying a gain of over 400 points and the S&P index is up over 50 points.