EQUITIES
S&P 500 Index : $2,663.68, gain 175.03 points or 7.03%
Dow Jones Industrial Average : $21,679.99, gain 1,627.46 points or 7.73%
Nasdaq Composite Index : $7,913.24, gain 540.15 points or 7.33%
All other exchanges also recording gain, with London's FTSE 100 up 3.08%, Germany's DAX up 5.77% and France's CAC 40 up 4.61%. Italy's closed 4.00% higher and pan-European Stoxx 600 index gain 3.73% closed Monday.
Asian markets also starting the day in green in early trade. Japan's Nikkei 225 up 1.87%, Hong Kong's Hang Seng recording 0.62%, China's Shanghai Composite 1.52%, Singapore’s 1.78%, South Korea’s KOSPI 0.77%, and Malaysia’s KLSE at 1.00%. Meanwhile, Australia's S&P/ASX 200 and SENSEX are recording losses of -0.31% and -2.39%, in early trading.
OIL
Brent crude futures ended the session lower on Monday at $33.05 per barrel, down -3.11% while WTI crude futures down -7.97%, to $26.08 per barrel.
Currently, Brent is trading at $33.91 per barrel and WTI is trading at $27.04 per barrel as of writing time (UTC+8).
CURRENCIES
The U.S. DXY closed 100.79 on Monday and stand at 100.63 latest. U.S. dollar stalled against most currencies as investors digested the fact that the rate of deaths from coronavirus accelerated is impacting economy.
Except appreciation for Mexican peso MXN at 0.10%, dollar retreated against other currencies. Including NOK (-0.58%), AUD (-0.44), NZD (-0.42%), JPY (-0.34%), GBP (-0.24%), RUB (-0.24%), SEK (-0.18%), DKK (-0.16%), CAD (-0.16%), CNY (-0.13%), EUR (-0.13%), CHF (-0.14%), and SGD (0.07%).
GOLD
Gold currently trading at $1,655.60 per ounce, while stands around $1,705.80 per ounce for gold futures of writing time. Previously closed at 1,660.70 and 1,693.90 respectively.
Silver trading at $15.09, platinum trading at $735.00 and palladium trading at $2,028.00.
ECONOMIC OUTLOOK
Stocks soared on Monday, rebounding after sharp losses last week, as investors celebrated early signs that the coronavirus pandemic shows signs of slowing down in Europe and the United States, though these small successes will likely be followed a tough week ahead as cases begin to peak. Main indices rose at least 7% each with DJIA gained more than 1,600 points.
Oil prices fell 8% on Monday amid ongoing uncertainty around the prospect of production cuts. Meanwhile, the U.S. oil industry is divided on whether it could or should contribute to production cuts to stabilize prices.
More layoffs: Roughly 10 million Americans filed initial unemployment claims between March 15 and March 28 and showing no sign of slowing. Goldman Sachs predicts that another 5.25 million Americans filed initial jobless claims last week.
To date, number of confirmed worldwide cases for COVID-19 pandemic has now reached more than 1,348,000 today affecting 209 countries and territories around the world, recording more than 75,000 fatality globally.
TECHNICAL OUTLOOK
[AUDUSD]
The pair currently in wedges pattern. This pattern generally signals that an asset’s price will eventually decline more permanently – which is demonstrated when it breaks through the support level.
RSI dan Stochastic also showing sell zone.
This movement comes ahead of the Reserve Bank of Australia’s monthly meeting today, during which it will consider its bond-buying program and decide if the current plan is the best for the economy. The Bank has flagged it will not move rates from its 0.25% floor for quite some time, although experts are split on whether the RBA will embark on a policy of quantitative easing today.
