EQUITIES
On Monday, major benchmark closes as follow:
S&P 500 Index : $2,626.65, gain 85.18 points or 3.35%
Dow Jones Industrial Average : $22,327.48, gain 690.70 points or 3.19%
Nasdaq Composite Index : $7,774.15, gain 271.77 points or 3.62%
European exchanges also recording gain, with London's FTSE 100 up 0.98%, Germany's DAX 1.90% and France's CAC 40 gain 0.62%. Italy's closed 0.30% lower and pan-European Stoxx 600 index gain 1.28% closed Monday.
In Asian markets, most major indices are in red in early trading except for Australia's ASX and KOSPI, that up 3.17% and 1.56% respectively. On the opposite, Nikkei 225 slumped -0.10%, Hang Seng down -1.32%, Shanghai -0.90%, and Singapore and Sensex down 4.45% and 4.61% in early trading.
OIL
Both oil prices fall to an 18-years low yesterday, before Brent crude ended the session on Monday at $22.76 per barrel, down -8.70% while WTI crude down -6.60%, to $20.09 per barrel.
Currently, Brent crude is trading at $23.05 per barrel while WTI trading at $20.69 per barrel, as of writing time (UTC+08.00).
CURRENCIES
The dollar rebounded against major currencies and riskier emerging market units on Monday, rose to 99.13, higher than yesterday index.
Sterling fell 0.8% $1.2384. The safe-haven Japanese yen rose marginally, putting the dollar down 0.1% to 107.81. The euro dropped more than 1% to $1.1026. The dollar gained 0.4% versus the offshore Chinese yuan to 7.1132 after the People’s Bank of China unexpectedly cut a key interbank interest rate, the seven-day reverse repurchase rate, by 20 basis points. The Australian dollar dropped sharply before recovering to trade down 0.3% against the greenback to US$0.6149. other currencies including SEK (1.34%), MXN (0.24%), RUB (0.27%), CHF (0.23%), NOK (0.18%), NZD (0.16%), and CAD (0.08%).
Meanwhile, the dollar also drops against some other currencies in early trade. Including against Singapore’s and Australia’s dollar -0.23% and -0.01% at the latest reading.
GOLD
Gold declines as dollar catches a bid. Gold currently trading at $1,622.2 per ounce, while stands around $1,640.30 per ounce for gold futures of writing time.
Silver trading at $14.06, platinum trading at $730.00 and palladium trading at $2,238.00.
ECONOMIC OUTLOOK
U.S. and Russia presidents agreed during a phone call on Monday to have their top energy officials discuss slumping global oil markets, signalled it would like to see more countries joining efforts to balance global oil markets.
WTI and Brent crude prices fall to its lowest level since 2002, as analysts forecast that quarantine measures are leading to the biggest-ever decline in oil demand.
Shares of Zoom Video Communications Inc. down -0.54% trading Monday following a New York Times report that the New York Attorney General's office is examining the video-streaming service's privacy practices. Zoom, whose stock has soared in recent weeks as a result of surging demand since the coronavirus pandemic, is under scrutiny for data privacy and security problems. Zoom shares are up 121% this year.
To date, number of confirmed worldwide cases for COVID-19 pandemic has now reached more than 786,000 today affecting 200 countries and territories around the world, recording more than 38,000 fatality.
TECHNICAL OUTLOOK
[USOIL]
Price has reached the lowest this week and showing double bottom or triple bottom along the way. It is expected that price will be uptrend.
Plus, U.S. and Russia are on the insight to have their top energy officials discuss slumping global oil markets, signalled it would like to see more countries joining efforts to balance global oil markets.
