EQUITIES
S&P 500 Index : $2,846.06, gain 84.43 points or 3.06%
Dow Jones Industrial Average : $23,949.76, gain 558.99 points or 2.39%
Nasdaq Composite Index : $8,515.74, gain 323.32 points or 3.95%
Europe exchanges also recording mixed reactions as London's FTSE 100 down -0.88%, Germany's DAX up 1.25% and France's CAC 40 up 0.38%. Italy's closed -0.36% lower and pan-European Stoxx 600 index gain 0.64% closed Tuesday.
Asian markets are open in early trade still finding footing. Japan's Nikkei 225 shed -0.55%, Hong Kong's Hang Seng recording 0.31%, China's Shanghai Composite down -0.21%, Singapore’s gain 0.17%, South Korea’s KOSPI gain 1.72%, and Australia's S&P/ASX 200 loss -0.76% in early trading.
OIL
Brent crude futures ended the session lower on Tuesday at $29.60 per barrel, while WTI crude futures is at $20.11 per barrel. Tumbled more than $2 for both crude grades.
Currently, Brent is trading at $30.06 per barrel and WTI is trading at $20.49 per barrel as of writing time (UTC+8).
CURRENCIES
The dollar index, which measures the U.S. currency against a basket of six rivals, is latest at 98.86.
Dollar traded higher against some other major currencies in early trade, including against GBP (0.05%), AUD (0.36), NZD (0.46%), CAD (0.18%), CNY (0.05%), SGD (0.02%), and MXN (0.23%).
Meanwhile, the dollar also drops against some other currencies in early trade. Including against EUR (-0.03%), JPY (-0.16%), DKK (-0.03%), NOK (-0.10%), SEK (-0.02%), and RUB (-0.21%) at the latest reading.
GOLD
Gold currently trading at $1,720.20 per ounce, while stands around $1,750.90 per ounce for gold futures as of writing time. Previously closed at 1,726.60 and 1,768.90, respectively.
Silver trading at $15.61, platinum trading at $786.00 and palladium trading at $2,139.00.
ECONOMIC OUTLOOK
IMF says the world will ‘very likely’ experience worst recession since the 1930s Great Depression. Global economy expected to contract by 3% in 2020.
China’s trade data released on Tuesday shows a better-than-expected economic data which painted a less gloomy picture than feared following the coronavirus epidemic there.
U.S. Treasury Department said on Tuesday that major passenger airlines have agreed in principle to a $25 billion rescue package, ensuring airline workers have jobs until October.
To date, number of confirmed worldwide cases for COVID-19 pandemic has topping 2 million today affecting 210 countries and territories around the world, recording more than 127,000 fatality globally.
TECHNICAL OUTLOOK
[GBPUSD]
Pair’s price is expected to still be in uptrend testing resistance line. Be careful with that level as we might get a rejection here. Nevertheless, if there is a breakout then growth will expected to continue to a stronger resistance line.
