Morning Market Update

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.



by WooHoo Ireland


Woooo Fx Education

Camden Street Lower, St Kevin's, Dublin 2, Ireland D 02 XE 80 | +353-214-651-000 |

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Trading in leveraged currency contracts comes with substantial risk. You must be aware of these risks before opening an account to trade. High leverage amplifies gains as well as losses, leading to potential loss of the entire account balance. Trading in leveraged currency contracts may not be suitable for every investor. Never speculate using money that you cannot afford to lose.

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