EQUITIES
S&P 500 Index : $2,912.43, down -27.08 points or -0.92%
Dow Jones Industrial Average : $24,345.72, down -288.14 points or -1.17%
Nasdaq Composite Index : $8,889.55, down -25.16 points or -0.28%
European exchanges also follow trait, with London's FTSE 100 down -3.50%, Germany's DAX down -2.22% and France's CAC lose -2.12%. Italy's closed -2.09% lower and pan-European Stoxx 600 index shed -2.03% closed Thursday.
Asian markets in red in early trade, with Japan's Nikkei 225 slipped -1.49%, and Australia's S&P/ASX 200 shed -3.42% in early trading. Meanwhile, major markets across the region — including China, Hong Kong, South Korea, India and Singapore — are closed on Friday for holidays. Closed Thursday, Hong Kong's Hang Seng gain 0.28%, China's Shanghai Composite gain 1.33%, Singapore’s gain 1.92%, and South Korea’s KOSPI gain 0.70%.
OIL
Brent crude futures ended the session higher on Thursday at $25.27 per barrel, a rise of 12.11%, while WTI crude futures rise 25.10%, at $18.84 per barrel.
Currently, oil prices rose in the morning of Asian trading hours, with Brent is trading at $27.24 per barrel and WTI is trading at $19.90 per barrel as of writing time.
CURRENCIES
The U.S. DXY stand at 99.16, following a decline from levels above 100 seen earlier this week, lower than yesterday index, compared with a basket of its major peers. Nonetheless, dollar rally against major currencies in early trade, including against AUD (0.56%), NZD (0.47%), MXN (0.46%), GBP (0.28%), CAD (0.23%), NOK (0.20%), SGD (0.16%) SEK (0.14%), EUR (0.13%), DKK (0.09%), JPY (0.04%), and CHF (0.01%) at latest reading.
GOLD
Gold currently trading at $1,686.30 per ounce, while stands around $1693.10 per ounce for gold futures as of writing time. Previously closed at 1,685.10 and 1,694.20, respectively.
Silver trading at $14.950, platinum trading at $772.00 and palladium trading at $1,885.00.
ECONOMIC OUTLOOK
U.S. stocks lost ground on Thursday as grim economic data and mixed earnings prompted investors to take profits at the close of the S&P 500’s best month in 33 years, a remarkable run driven by expectations the economy will soon start recovering from crushing restrictions enacted to curb the coronavirus pandemic.
U.S.’s Labour Department data showing some 30 million Americans seeking unemployment benefits since March 21. The jobless toll amounts to more than 18.4% of the U.S. working-age population, a level not seen since the Great Depression of the 1930s.
Trump threatens new tariffs on China as U.S. mulls retaliatory action over COVID-19.
As White House economic reopening guidance expired on Thursday after two weeks in place, half of all U.S. states forged ahead with easing restrictions on restaurants, retail and other businesses in hopes of reviving coronavirus-stricken commerce.
To date, number of confirmed worldwide cases for COVID-19 pandemic has now reached more than 3,308,000 today affecting 212 countries and territories around the world and 2 international conveyances, recording more than 234,000 fatality globally.
TECHNICAL OUTLOOK
[EURUSD]
Our Preference:
- Long positions above 1.2129 with targets at 1.2158 and extension at 1.2204, which is also the resistance line.
Commentary/ Reason:
- Support line is level with Fibonacci retracement of 38.20% at 1.2129.
- Bullish prevails as long as 1.2129 is support.
- the RSI and Stochastic indicators indicating uptrend.
