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Market Overview
Good News, Historic Highs Have Been Reached
Yesterday was marked by a reduction in the number of coronavirus infections as well as the news that Chinese authorities may intervene in the aviation sector in order to mitigate the negative impacts of the virus. The main interest rate of the Chinese central bank was also reduced.
On a day marked by a greater appetite for risk, we can see an appreciation of the main world exchanges. The main European index, Stoxx 600, increased by 0.83%, while the S&P 500 rose by 0.27% and the technological Nasdaq by 0.87%.
In the European debt market, a large part of interest rates fell, signaling a greater demand for more secure assets.
The European currency followed most of the day in decline and good results were seen for the United States. Positive data regarding the real estate market and the producer price index led to the appreciation of the US Dollar compared to its main currencies.
Crude oil spent most of the day on a steep climb, several factors contributed to this. The economic stimulus that came from China ended up creating confidence that demand may not fall as much as expected. Also, sanctions imposed by Trump to the Russian oil company, Rosneft, and ceasefire in Libya may affect supply in the first quarter.
Gold, on the other hand, turned out to have an atypical day, as the market sentiment had more of an appetite for risk. Metal ended yesterday's session valuing at 0.3%.
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