EQUITIES
S&P 500 Index : $2,863.70, gain 11.20 points or 0.39%
Dow Jones Industrial Average : $23,685.42, gain 60.08 points or 0.25%
Nasdaq Composite Index : $9,014.56, gain 70.84 points or 0.79%
European exchanges follow traits, with London's FTSE 100 gained 1.01%. Germany's DAX gained 1.24% and France's CAC gained 0.11%. Italy's FTSE MIB Index closed -0.09% lower and pan-European Stoxx 600 index up 0.48% closed Friday.
Stocks in Asia open with mixed reaction on Monday as caution remains, with Japan's Nikkei 225 dropped -0.16%, Hong Kong's Hang Seng dropped -0.14%, China's Shanghai Composite down -0.07% and Singapore’s gained 0.23%. Meanwhile, shares in Australia also traded higher, as the S&P/ASX 200 grew 1.23%, and South Korea’s KOSPI declined -0.08% in early trading.
OIL
Brent crude futures ended the session higher on Friday at $32.50 per barrel, a rise of 4.40%, while WTI crude futures rose 6.79%, at $29.43 per barrel.
Currently, oil prices traded higher in the morning of Asian trading hours, with Brent is trading at $33.79 per barrel and WTI is trading at $30.72 per barrel as of writing time.
CURRENCIES
The U.S. DXY stand at 100.33, compared with a basket of its major peers. Except for some currencies, including such as JPY (0.12%) and CNY (0.02%), dollar depreciate against some others. They are including against MXN (-0.33%), AUD (-0.28%), CAD (-0.23%), NZD (-0.20%), SGD (-0.18%), SEK (-0.16%), NOK (-0.15%), RUB (-0.13%) GBP (-0.12%), EUR (-0.04%), and DKK (-0.02%) at latest reading.
GOLD
Gold currently trading at $1,759.50 per ounce, while stands around $1,767.60 per ounce for gold futures as of writing time. Previously closed at $1,742.20 and $1,756.30, respectively.
Silver trading at $17.07, platinum trading at $808.00 and palladium trading at $1,842.00.
ECONOMIC OUTLOOK
Asian shares crept ahead on Monday and oil prices hit a five-week high as more countries re-opened their economies stirring hopes the world was nearer to emerging from recession.
Oil prices jumped by more than US$1 a barrel on Monday to their highest in more than a month, supported by ongoing output cuts and signs of gradual recovery in fuel demand as more countries ease curbs.
Gold rose on Monday to its highest since October 2012 as worries regarding the souring U.S.-China relations and bleak U.S. economic data underpinned the safe-haven metal.
Japan's economy slipped into recession for the first time in 4-1/2 years, GDP data showed on Monday, putting the nation on course for its deepest postwar slump as the coronavirus crisis takes a heavy toll on businesses and consumers.
To date, number of confirmed worldwide cases for COVID-19 pandemic has now reached more than 4,802,000 today affecting 213 countries and territories around the world and 2 international conveyances, recording more than 317,000 fatality globally.
TECHNICAL OUTLOOK
[USDJPY]
Our Preference:
- Long positions above 107.096, with targets at 107.349.
- Alternatively: Short positions below 107.096, with targets at 106.882.
Commentary/ Reason:
- Fisher Transform and MACD indicators are showing that the price is in neutral area.
- Expect price to follow pennant pattern for some time before breakout.
- Bollinger bands also suggesting the strength of the price is within the pennant pattern area.
