Currency Hedger Trading Desk May 27, 2020
US indices finished yesterday's session higher. S&P 500 jumped 1.23% and finished slightly below 3,000 pts mark, Dow Jones added 2.17% and Russell 2000 surged 2.88%. On the other hand, Nasdaq gained only 0.17%
Moods during Asian trading hours are mixed. S&P/ASX 200, Nikkei and Kospi ink small gains while indices from China pull back. S&P 500 and DAX futures are trading above yesterday's cash close.
Number of confirmed coronavirus cases jumped 5.68 million while the death toll surpassed 350 thousand (352.2 thousand currently). 2.43 million people recovered.
Asked about sanctions on China, Trump said he will offer more details by the end of the week.
Large protests are expected in Hong Kong today as trade unions called a general strike. Reports say that the building of the city's legislature is surrounded by police and clashes are expected
Bloomberg reported that Japan plans to introduce new stimulus package worth 117.1 trillion JPY
Travel between Australia and New Zealand could be resumed in July
Oppo, one of the biggest Chinese mobile phone manufacturers, boosted efforts to develop its own chips. Move comes after US cut Huawei off the global chip supply
China's industrial profits dropped 4.3% YoY in April. In January-April period a drop of 27.4% YoY was registered
Australia's construction work done declined 1% QoQ in Q1 2020 (exp. -1.5% QoQ)
Boeing is said to be readying to announce big job cuts next week
CAD and JPY gain the most among majors while EUR and CHF are top laggards
Precious metals, energy commodities and industrial metals trade lower today. Small gains can be spotted on grains market
There is not much of an improvement in new case data as of late. More new cases were reported in South America yesterday than on any other continent.