EQUITIES
S&P 500 Index : $2,991.77, gain 36.32 points or 1.23%
Dow Jones Industrial Average : $24,995.11, gain 529.95 points or 2.17%
Nasdaq Composite Index : $9,340.22, gain 15.63 points or 0.17%
European exchanges closed second day of trading on positive notes, with London's FTSE 100 gain 1.24%, Germany's DAX up 1.00%, and France's CAC gained 1.46%. Italy's FTSE MIB Index closed 1.50% higher and pan-European Stoxx 600 index increased 1.08% closed Tuesday.
Stocks in Asia Pacific gained mixed reaction on Wednesday morning as investors weighed the potential impact of rising tensions between Washington and Beijing. Japan's Nikkei 225 up 0.24%, Hong Kong's Hang Seng up 0.18%, China's Shanghai Composite down -0.13% and Singapore’s down -0.45%. Meanwhile, shares in Australia traded lower, as the S&P/ASX 200 loss 0.13%, while South Korea’s KOSPI gain 0.42% in early trading.
OIL
Brent crude futures ended the session higher on Tuesday at $36.17 per barrel, a rise of 1.80%, while WTI crude futures rose 3.31%, at $34.35 per barrel.
Currently, oil prices retreated in the morning of Asian trading hours, with Brent is trading at $35.98, while WTI is trading at $34.07 as of writing time.
CURRENCIES
The U.S. dollar index, which tracks the greenback against a basket of its peers, last traded at 99.10 after declining from levels above 100 last week.
Dollar mostly appreciates against most of major currencies, including against SEK (0.18%), NOK (0.17%), DKK (0.14%), AUD (0.09%), EUR (0.08%), NZD (0.08%), CNY (0.08%), GBP (0.06%), SGD (0.06%), CAD (0.05%), CHF (0.03%), and MXN (0.03%). Dollar losses against currencies of Japanese yen and Russian rouble by -0.03% and -0.02%, respectively at latest reading.
GOLD
Gold currently trading at $1,710.70 per ounce, while stands around $1,704.90 per ounce for gold futures as of writing time. Previously closed at $1,710.20 and $1,705.60, respectively.
Silver trading at $17.13, platinum trading at $812.00 and palladium trading at $1,872.00.
ECONOMIC OUTLOOK
Stocks in Asia Pacific were mixed in Wednesday morning trade as investors weighed the potential impact of rising tensions between Washington and Beijing against economies reopening, as coronavirus containment measures are eased.
Oil prices fell on Wednesday on revived concerns over how quickly fuel demand will recover even as coronavirus lockdowns begin to ease in many countries, while U.S.-China tensions added to negative sentiment.
Profits at China’s industrial firms fell at a slower pace in April, as economy faces persistent pressure.
Japan will compile a fresh stimulus package worth $1.1 trillion that will include a sizable amount of direct spending to cushion the economic blow from the coronavirus pandemic.
To date, number of confirmed worldwide cases for COVID-19 pandemic has now reached more than 5,684,000 today affecting 213 countries and territories around the world and 2 international conveyances, recording more than 352,000 fatality globally.
TECHNICAL OUTLOOK
[USDJPY]
Our Preference:
- Short positions below 107.503, with target at 107.321.
Commentary/ Reason:
- Stochastic oscillator gaining into an overbought range, indicating possible downward movement.
- The MACD is below its signal line and negative. The configuration is negative.
- The RSI is below its neutrality area of 50
- The pair is trading below its 200 and 50 Moving Averages.
