The major stock markets, including the New York Stock Exchange (NYSE) and Nasdaq, will be closed for Good Friday. Markets in Europe, Australia, Hong Kong, Singapore, and India were also closed for the Good Friday holiday. Equity futures, currency and commodities like crude oil and gold were also be closed for trading.
Good Friday is a religious holiday observed by Christians the Friday before Easter. Good Friday is not a federal holiday and most businesses will stay open for the day. This is the only holiday that the stock market closes for an entire trading day that is not a federal holiday.
EQUITIES
Stocks in Asia were mixed on Friday, with major markets across the region closed for the Good Friday holiday.
Mainland Chinese shares were lower on the day. The Shanghai composite was down 1.04% to about 2,796.63 while the Shenzhen composite dropped 1.946% to approximately 1,721.22. The Shenzhen component fell 1.57% to 10,298.41.
Japan’s Nikkei 225 rose 0.79% to close at 19,498.50 while the Topix index dipped 0.92% to end its trading day at 1,430.04.
OIL
Market closed on Friday and last ended the session at $31.48 per barrel for Brent crude, while WTI crude slipping to $22.76 per barrel.
Currently, Brent is trading at $32.50 per barrel and WTI is trading at $23.74 per barrel as of writing time (UTC+8).
CURRENCIES
The U.S. dollar index, which tracks the greenback against a basket of its peers, was last at 99.424 after slipping from levels above 100.5 seen earlier in the trading week.
Market closed on Friday.
GOLD
Gold market closed on Friday, whereas previously closed at $1,686.82 and $1,752.80 for spot and futures, respectively. Currently, gold trading at $1,683.40 per ounce, while stands around $1,738.90 per ounce for gold futures as of writing time.
Silver trading at $15.40, platinum trading at $751.00 and palladium trading at $2,057.00.
ECONOMIC OUTLOOK
Trading was dull on Friday and will remain so this Monday, amid Easter holidays being celebrated in most major economies.
On Wall Street, the S&P 500 wrapped up its best week since 1974 as it climbed 12.10%. Granted, the Good Friday holiday shortened the time period. Optimism in financial markets meant the haven-linked US Dollar and similarly behaving Japanese Yen were under pressure. This is as the growth-oriented Australian Dollar outperformed. Crude oil prices struggled to follow sentiment.
JPMorgan Chase to raise mortgage borrowing standards as economic outlook darkens. A new mortgage will need a credit score of at least 700 and will be required to make a down payment equal to 20% of the home’s value.
To date, number of confirmed worldwide cases for COVID-19 pandemic has now reached more than 1,853,000 today affecting 210 countries and territories around the world, recording more than 115,000 fatality globally.
TECHNICAL OUTLOOK
[XAUUSD]
Price trades in Rising Wedge.
Price trades near Current Resistance level of $1,690.
Gold can continue to grow from current prices or after a little pullback.
