EQUITIES
S&P 500 Index : $2,797.80, down -1.51 points or -0.05%
Dow Jones Industrial Average : $23,515.26, gain 39.44 points or 0.17%
Nasdaq Composite Index : $8,494.75, down -0.63 points or -0.01%
European exchanges are recording gain, with London's FTSE 100 up 0.97%, Germany's DAX up 0.95% with France's CAC gain 0.89%. Italy's closed 1.47% higher and pan-European Stoxx 600 index gains 0.94% closed Thursday.
Asian markets is still finding footing in early trade, with Japan's Nikkei 225 down -1.04%, Hong Kong's Hang Seng loss -0.55%, China's Shanghai Composite down -0.13%, Singapore’s loss -1.44%, South Korea’s KOSPI shed -0.81%, and Australia's S&P/ASX 200 gain 0.31% in early trading.
OIL
Brent crude futures ended the session higher on Thursday at $21.33 per barrel, a rise of 4.71%, while WTI crude futures gain 19.74%, at $16.50 per barrel.
Currently, Brent is trading at $21.90 per barrel and WTI is trading at $17.05 per barrel as of writing time (UTC+8).
CURRENCIES
The U.S. DXY stand at 100.55, compared with a basket of its major peers. Dollar rally against most of major currencies in early trade, including against AUD (0.27%), NZD (0.26%), CNY (0.18%), SGD (0.15%), EUR (0.11%), DKK (0.10%), CHF (0.09%), GBP (0.06%), CAD (0.06%), SEK (0.04%), RUB (-0.03%), and JPY (0.01%).
Dollar also depreciate against currencies including MXN (-0.21%), and NOK (-0.15%),
GOLD
Gold currently trading at $1,724.70 per ounce, while stands around $1,746.70 per ounce for gold futures as of writing time. Previously closed at 1,732.60 and 1,745.40, respectively.
Silver trading at $15.19, platinum trading at $763.00 and palladium trading at $1,914.00.
ECONOMIC OUTLOOK
After a dramatic week that saw prices plunge below zero for the first time in history, oil continued to claw back losses as attention turned to output cuts in response to the demand hit from coronavirus lockdowns. New York futures for June delivery rose for a fourth day to above $17 a barrel after the May contract fell as low as -$40.32 on Monday before expiring the next day.
U.S. operators have already started to shut in old wells and halt new drilling, actions that could reduce output by 20%, while Kuwait and Algeria said they are reducing production earlier than required to under the OPEC+ deal.
Asia stocks decline as hopes of coronavirus treatment reportedly take a hit, despite a rebound in oil prices. Gilead Sciences’ drug remdesivir did not improve coronavirus patients’ condition.
U.S. House passes $500 billion coronavirus bill in latest relief package, funding small businesses and hospitals and pushing the total spending response to the crisis to an unprecedented near $3 trillion.
26.5 million Americans have sought unemployment benefits since mid-March, confirming that all the jobs gained during the longest employment boom in U.S. history have been wiped out.
To date, number of confirmed worldwide cases for COVID-19 pandemic has now reached more than 2,725,000 today affecting 210 countries and territories around the world and 2 international conveyances, recording more than 191,000 fatality globally.
TECHNICAL OUTLOOK
[EURJPY]
Short positions below 116.097 with targets at 115.638.
Pair is in cup and handle pattern. Price is expected to uptrend for a bit but will not break resistance line of 116.097.
50’s and 200’s Moving Averages is above the pair’s price. The MACD is below its signal line and negative. The configuration is negative.
