Market Morning Wrap






US indices finished yesterday’s session with heavy decline following oil market crash. S&P 500 closed 7.6% lower, Dow Jones dropped 7.79% and Nasdaq declined 7.29%. Russell 2000 finished 9.37% lower


Moods are better during Asian trading hours thanks to rebound in oil and hopes of stimulus in the United States. WTI jumps 8% and trades above $33.50 while US President Trump said that he will hold a press conference on measures aimed at limiting virus impact


Nikkei closed 0.85% higher while S&P/ASX 200 finished 3.11% higher. KOSPI gains 0.5% and HSCEI trades 2% higher


Number of confirmed coronavirus cases increased to 114,458 while the number of recovered stands at 64,100. Death toll has risen to 4,027. There are already 7 countries with over 1,000 confirmed cases. Italy extended lockdown nationwide and urged citizens to stay at home as number of cases in the country surpassed 9,000


More institutions report coronavirus cases among their members. NATO and ECB confirmed their employees tested positive for the virus. French Culture Minister and Riksbank Deputy Governor are infected as well


Chinese President Xi visited Wuhan city in an attempt of showing that the country has defeated coronavirus outbreak


Yen is making a massive pullback amid improvement in moods. USDJPY attempts to break above 104.50. CAD is benefiting from oil rebound while USD jumps on bounce in yields

Gold pulls back, silver trades flat while platinum advances. Industrial metals gain along with agricultural commodities


China’s CPI slowed from 5.4% to 5.2% YoY in February, in-line with expectations

Preliminary machine tool orders data from Japan showed a drop of 30.1% YoY in February




Number of confirmed coronavirus cases continues to rise but the number of countries reporting new cases declined as of late.

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