EQUITIES
S&P 500 Index : $ 2,955.45, gain 6.94 points or 0.24%
Dow Jones Industrial Average : $24,465.16, down -8.96 points or -0.04%
Nasdaq Composite Index : $9,324.59, gain 39.71 points or 0.43%
European exchanges ending the weekend with mixed reaction, with London's FTSE 100 shed -0.37%, Germany's DAX up 0.07%, and France's CAC loss -0.02%. Italy's FTSE MIB Index closed 1.34% higher and pan-European Stoxx 600 index retreated -0.03% closed Friday.
Stocks in Asia Pacific is still finding footing in early trade, with Japan's Nikkei 225 up 1.47%, Hong Kong's Hang Seng loss -5.56%, China's Shanghai Composite down -1.89% and Singapore’s down -2.17%. Meanwhile, shares in Australia traded higher, as the S&P/ASX 200 grew 1.54%, while South Korea’s KOSPI gain 0.91% in early trading.
OIL
Brent crude futures ended the session higher on Thursday at $35.13 per barrel, a drop of -2.58%, while WTI crude futures dropped 1.98%, at $33.25 per barrel.
Currently, oil prices retreated in the morning of Asian trading hours, with Brent is trading at $34.81 per barrel, while WTI is trading at $33.02 per barrel as of writing time.
CURRENCIES
The U.S. DXY stand at 99.72, an index of currency compared with a basket of its major peers.
Dollar appreciates against some of major currencies, including against SEK (0.17%), JPY (0.14%), and CHF (0.07%).
Dollar also depreciated against currencies, such as AUD (0.42%), MXN (-0.32%), GBP (-0.11%), RUB (-0.09%), NOK (-0.07%), CAD (-0.05%), SGD (-0.04%), NZD (0.03%), DKK (-0.03%), and EUR (-0.02%) at latest reading.
GOLD
Gold currently trading at $1,728.00 per ounce, while stands around $1,727.70 per ounce for gold futures as of writing time. Previously closed at $1,732.70 and $1,735.50, respectively.
Silver trading at $17.15, platinum trading at $819.00 and palladium trading at $1,904.00.
ECONOMIC OUTLOOK
Asia markets rose in early trade on Monday as investor sentiment remained resilient despite growing concerns over the U.S.-China relationship.
Risk sentiment proved resilient, on Friday night, to concerns about the fallout from China introducing national security legislation in Hong Kong. Weakness in Asian equities gave way to a flattish European session, and mild positivity in the US
This year economic outlook grim for global container cargo shipping sector.
Japan is considering a fresh stimulus package worth over $929 billion that will consist mostly of financial aid programmes for companies hit by the coronavirus pandemic, the Nikkei newspaper said on Monday.
To date, number of confirmed worldwide cases for COVID-19 pandemic has now reached more than 5,494,000 today affecting 213 countries and territories around the world and 2 international conveyances, recording more than 346,000 fatality globally.
TECHNICAL OUTLOOK
[USDJPY]
Our Preference:
- Long positions, with target at 108.098. Stop at support line of 107.338
Commentary/ Reason:
- Stochastic oscillator reading showing an oversold range, indicating impending upward movement.
- The pair is trading above both its 200 and 50 Moving Averages
