Karim Abdelwahab
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7+ Jahre
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Karim Abdelwahab
DXY has been trending down since April 3rd. Today, the dollar is retreating to most currencies, except for ZAR, TRY, which is a sign of a recovery in demand in the markets.
Karim Abdelwahab
Futures for S&P500 adding 1.2% after 1% decline on Monday. #DAX is up 1.1%, #CAC40 is up 0.5%, and #FTSE100 is down 0.8%.
Karim Abdelwahab
Stocks recouped most of its Tuesday afternoon U-turn, with the S&P 500 closing at its highest level since March 10.
S&P and Dow both finished +3.4%; Nasdaq +2.6%.
Stocks opened higher after Dr. Anthony Fauci, director of the U.S. National Institute of Allergy and Infectious Diseases, said the start of a turnaround in the fight against the coronavirus could come after this week.
The major indexes then rallied late after the FOMC minutes from the recent emergency meetings revealed that the Fed felt the need for a strenuous response to the virus - nothing investors did not already know - and Russia said it was ready for a supply cut deal while Algeria confirmed tomorrow's OPEC+ meeting would discuss reductions of 10M bbl/day.
Crude oil soared as much as 11% on the news before settling +6.2% to $25.09/bbl.
Among the S&P sectors, real estate (+7.5%) was today's big winner, followed by energy (+6.6%), materials (+4.9%) and health care (+4.1%).
The 10-year Treasury yield added 3 bps to 0.77%.
S&P and Dow both finished +3.4%; Nasdaq +2.6%.
Stocks opened higher after Dr. Anthony Fauci, director of the U.S. National Institute of Allergy and Infectious Diseases, said the start of a turnaround in the fight against the coronavirus could come after this week.
The major indexes then rallied late after the FOMC minutes from the recent emergency meetings revealed that the Fed felt the need for a strenuous response to the virus - nothing investors did not already know - and Russia said it was ready for a supply cut deal while Algeria confirmed tomorrow's OPEC+ meeting would discuss reductions of 10M bbl/day.
Crude oil soared as much as 11% on the news before settling +6.2% to $25.09/bbl.
Among the S&P sectors, real estate (+7.5%) was today's big winner, followed by energy (+6.6%), materials (+4.9%) and health care (+4.1%).
The 10-year Treasury yield added 3 bps to 0.77%.
Karim Abdelwahab
Brent is trading at $ 33.7 in the spot market, starting the week with a 7% dip to $32.5 after reports of the postponement of OPEC + discussions from Monday to Thursday.
Karim Abdelwahab
DXY grew so far this week following the drawdown of risky assets. EURUSD rolled back to 1.0930. GBPUSD gains support on dips below 1.24. The volatility of the foreign exchange market fell to the levels of three weeks ago.