Market Overview

15 May 2020 17:18

Frederico Aragao Morais

Yesterday was marked by mixed market behaviour. For much of the day there was a great deal of risk aversion as US Federal Reserve (Fed) Chairman Jerome Powell said that Congress and the White House may have to invest more to ensure that the initial rapid response to the economic downturn continues and that there are signs that the recovery will take longer than initially anticipated. In particular, the Dow Jones index rose by 1.62% while the S&P500 index grew by 1.15% and the Nasdaq index rose by 0.91%. Stoxx 600 - European benchmark index - fell by 2.17%.
15 May 2020 13:20

Lysakov Sergey

Better than expected Chinese industrial production data helped the European stock markets to post some moderate gains on Friday along with a rather positive Thursday's close on Wall Street in New York. As China's Retail Sales on year-to-year basis showed 7.5% decline in April 2020 vs April 2019 after a similar 20.5% drop in February and 15.8% fall in March, the Chinese National Bureau of Statistics published its industrial production indicator, which increased 3.9% year-on-year, far beyond the average expert forecasts of only a 1.5% increase.
14 May 2020 17:11

Frederico Aragao Morais

Yesterday was marked by a substantial aversion to risk. Fears of a possible second wave of the virus, as well as the statement from the Federal Reserve's (Fed) chief Jerome Powell in which he referred to a slower-than-expected economic recovery, prompted sharp declines in stock indexes. In the United States, the Dow Jones index lost 2.17% while the Nasdaq index depreciated by 1.55% and the S&P500 index fell by 1.75%. In Europe, its reference index - Stoxx 600 - closed at red with 1.95% less.
14 May 2020 12:49

Lysakov Sergey

The fundamental background outside the markets has changed little ideologically over the past 24 hours. The same three top discussions are in focus: how realistic is the chance for a truly strong second wave of infections as the economy reopens, how safe is the temporary break in American-Sino relations, and whether the possibility of switching to negative interest rates in the US still exists or not in connection with the first two sources of worries? All three questions have no clear answer yet. So, the markets are at a certain crossroads.
13 May 2020 13:11

Lysakov Sergey

Slight swoon of the US stock indexes last night was caused by the sentences of the White House main medical advisor Dr. Fauci who shared his worries about a possible powerful second wave of infection in summer due to the opening-up of economies too early in some heavily populated American states. In addition, he cooled the ardor of optimists by telling them that if vaccine candidates are successful, it would be known by late fall or early winter, even despite the fact that phase 2 and phase 3 of clinical trying on people will already have started in late spring and early summer.
13 May 2020 11:19

Frederico Aragao Morais

Yesterday was marked by a great variation of feeling throughout the day. The market sentiment that eventually prevailed was risk aversion with the possibility of a second wave of concern for investors. In the United States, the Dow Jones index fell by 1.89% while the S&P500 index fell by 2.05% and the Nasdaq index depreciated by 2.06%. On the European side, its benchmark - Stoxx 600 - gained 0.26%. In the debt market, yields ended up falling, this being a normal correlation on a day of greater risk aversion.
13 May 2020 07:15

Mark Goichmann

Brent crude prices bounced from the bottom of $16 and settled around $30 per barrel, which seem to be a physiologically strong resistance level. This balance may sustain as many contrary factors affecting crude prices. From the demand side, there is a positive factor of a certain easing of restrictions imposed against the pandemic in many countries. Signs of business activity are emerging andthe driving season is close to opening. But there are also worries that the recovery in demand will be slow and it will not reach 30% of its fall or 30 million bpd.
12 May 2020 13:12

Lysakov Sergey

The Nasdaq Composite stock index of high-tech sectors ended the New York trading session on Monday with its highest value since February 24, 2020, thus erasing 85% of the total amount of losses from the peaks of this year and to the bottom in March. Companies based on online services and the so-called "stay-at-home" stocks are the first priority in demand during the pandemic.
12 May 2020 12:25

Frederico Aragao Morais

Despite all the economic scenarios that are being created, uncertainty remains on several levels. It is difficult to predict how easy it will be to recover lost jobs, when it will be possible to travel again or what the real impact of stimulus measures by central banks and governments will be on an economy that has little impact. While the doubt focuses mainly on its time horizon, it is possible to start thinking about what the world will look like after this pandemic. Not in terms of concrete figures, but in terms of the economic paradigm that will most probably be different.
11 May 2020 12:56

Lysakov Sergey

The Australian Dollar stands out against many other currencies due to the fact that AUD/USD won back 100% of the damage it has suffered since the beginning of March. Unlike the single European currency or the Swiss Franc, the Aussie tested its April peak resistance levels again and again last Friday and Monday morning. The Australian currency has been in a fairly obvious uptrend over the past six weeks also against the Japanese Yen, which is something analysts can't say about the USD/JPY pair, for example.
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