EQUITIES
S&P 500 Index : $2,953.91, gain 90.21 points or 3.15%
Dow Jones Industrial Average : $24,597.37, gain 911.95 points or 3.85%
Nasdaq Composite Index : $9,234.83, gain 220.27 points or 2.44%
European exchanges also soar, with London's FTSE 100 gained 4.29%. Germany's DAX gained 5.67% and France's CAC gained 5.16%. Italy's FTSE MIB Index closed 3.26% higher and pan-European Stoxx 600 index up 4.07% closed Monday.
Stocks in Asia on Tuesday is likely to follow Wall Street, though caution remains, with Japan's Nikkei 225 up 1.91%, Hong Kong's Hang Seng gained 2.10%, China's Shanghai Composite up 0.70% and Singapore’s gained 2.08%. Meanwhile, shares in Australia also traded higher, as the S&P/ASX 200 grew 1.99%, and South Korea’s KOSPI increased 2.00% in early trading.
OIL
Brent crude futures ended the session higher on Monday at $34.81 per barrel, a rise of more than 2 dollars, while WTI crude futures rose 8.12%, at $31.82 per barrel.
Currently, oil prices traded lower in the morning of Asian trading hours, with Brent is trading at $35.10 per barrel, while WTI is trading higher at $32.61 per barrel as of writing time.
CURRENCIES
The U.S. DXY stand at 99.70, falling from yesterday above 100’s level benchmark, an index compared with a basket of its major peers.
Dollar rallying against some of major currencies, including against SEK (0.21%), NOK (0.17%), CAD (0.11%), CHF (0.10%), JPY (0.08%), EUR (0.04%), DKK (0.04%), and SGD (0.04%).
Also, dollar depreciate against some others, including against MXN (-0.40%), RUB (-0.10%) AUD (-0.09%), NZD (-0.05%), GBP (-0.01%), and CNY (-0.01%) at latest reading.
GOLD
Gold currently trading at $ 1,737.80 per ounce, while stands around $1,741.10 per ounce for gold futures as of writing time. Previously closed at $1,732.00 and $1,734.40, respectively.
Silver trading at $17.03, platinum trading at $812.00 and palladium trading at $1,935.00.
ECONOMIC OUTLOOK
Stocks in Asia jumped in Tuesday morning trade as hopes rise on a potential coronavirus vaccine after a positive development from a Moderna trial.
Oil prices rose on Tuesday, extending gains for a fourth straight session, amid signs that producers are cutting output as promised just as demand picks up, stoked by more countries easing out of curbs imposed to counter the coronavirus pandemic.
Economic conditions in Japan will likely stay tough in the current quarter, Finance Minister Taro Aso said on Tuesday, also promising that the government would ensure support for employment and help firms stay in business. This is after the world’s third-largest economy announced that the country fell into recession.
To date, number of confirmed worldwide cases for COVID-19 pandemic has now reached more than 4,893,000 today affecting 213 countries and territories around the world and 2 international conveyances, recording more than 320,000 fatality globally.
TECHNICAL OUTLOOK
[USDJPY]
Our Preference:
- Long positions above 107.281, with targets at 107.465 and extension at 107.764
Commentary/ Reason:
- The pair is trading above both its 200 and 50 Moving Averages.
- Stochastic indicating oversold.
- Price also forming an ascending triangle. Which is a bullish continuation pattern which signifies the continuation of an uptrend.
