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US markets are set to open lower today. Dow and the S&P 500 futures are down more than 1% at the time of writing, while Nasdaq has declined by 1.5%.
EQUITIES
UK shares plunged on Monday led by HSBC and Standard Chartered shares after an investigation released over the weekend based on leaked documents reported that several lenders moved large sums of illicit funds over two decades. On Friday, Wall Street closed at their lowest level of the month after sharp losses in the tech sector led by Apple (-3.2%), Amazon (-1.8%), and Microsoft (-1.2%).
OIL
Crude oil prices slipped lower on Monday as the spike in global coronavirus cases raised concerns over fuel demand recovery and the possibility of further lockdowns.
CURRENCIES
In the currency market, the British Pound and Euro trading under pressure on concerns over rising coronavirus cases. On Sunday, the UK government reported 4,422 new infections, its biggest daily rise since early May.
GOLD
The gold price slipped below $1940 during the European session after the US Dollar rebounded from the previous session losses.
Economic Outlook
On the US-China front, Donald Trump approved a deal involving TikTok’s parent ByteDance, in which Oracle and Walmart would take minority stakes in a new entity called TikTok Global.
Moving ahead to the North American session, the Federal Reserve Chair Jerome Powell is due to speak, along with the rest of the FOMC board members. On the other hand, during the Asian session, the People’s Bank of China kept its benchmark lending rate for corporate and household loans steady for the fifth straight month.
Coronavirus update:
Global Coronavirus Infections Hit 31 Million The number of people infected with the coronavirus across the world surpassed 31 million, of which at least 960 thousand people have died and 21.2 million have recovered, according to data released by the Johns Hopkins University. The United States has passed 6.7 million confirmed cases, with over 199,000 deaths from COVID-19, the highest numbers in the world.
Technical Outlook
EUR/USD: The currency pair retreated back to below 1.1800 after the pair failed to break above 1.1870.
The important levels to watch for today: Support- 1.1790 and 1.1750 Resistance- 1.1840 and 1.1870.
Dollar Index: The greenback rebounded from the previous session losses. At the time of writing, the Index trading steady above 93.20.
The important levels to watch for today: Support- 92.70 and 92.50 Resistance- 93.55 and 94.
Quote of the day: To be a good trader, you need to trade with your eyes open, recognize real trends and turns, and not waste time or energy on regrets and wishful thinking – Alexander Elder.
Read more- https://gulfbrokers.com/en/daily-market-report-170
US markets are set to open lower today. Dow and the S&P 500 futures are down more than 1% at the time of writing, while Nasdaq has declined by 1.5%.
EQUITIES
UK shares plunged on Monday led by HSBC and Standard Chartered shares after an investigation released over the weekend based on leaked documents reported that several lenders moved large sums of illicit funds over two decades. On Friday, Wall Street closed at their lowest level of the month after sharp losses in the tech sector led by Apple (-3.2%), Amazon (-1.8%), and Microsoft (-1.2%).
OIL
Crude oil prices slipped lower on Monday as the spike in global coronavirus cases raised concerns over fuel demand recovery and the possibility of further lockdowns.
CURRENCIES
In the currency market, the British Pound and Euro trading under pressure on concerns over rising coronavirus cases. On Sunday, the UK government reported 4,422 new infections, its biggest daily rise since early May.
GOLD
The gold price slipped below $1940 during the European session after the US Dollar rebounded from the previous session losses.
Economic Outlook
On the US-China front, Donald Trump approved a deal involving TikTok’s parent ByteDance, in which Oracle and Walmart would take minority stakes in a new entity called TikTok Global.
Moving ahead to the North American session, the Federal Reserve Chair Jerome Powell is due to speak, along with the rest of the FOMC board members. On the other hand, during the Asian session, the People’s Bank of China kept its benchmark lending rate for corporate and household loans steady for the fifth straight month.
Coronavirus update:
Global Coronavirus Infections Hit 31 Million The number of people infected with the coronavirus across the world surpassed 31 million, of which at least 960 thousand people have died and 21.2 million have recovered, according to data released by the Johns Hopkins University. The United States has passed 6.7 million confirmed cases, with over 199,000 deaths from COVID-19, the highest numbers in the world.
Technical Outlook
EUR/USD: The currency pair retreated back to below 1.1800 after the pair failed to break above 1.1870.
The important levels to watch for today: Support- 1.1790 and 1.1750 Resistance- 1.1840 and 1.1870.
Dollar Index: The greenback rebounded from the previous session losses. At the time of writing, the Index trading steady above 93.20.
The important levels to watch for today: Support- 92.70 and 92.50 Resistance- 93.55 and 94.
Quote of the day: To be a good trader, you need to trade with your eyes open, recognize real trends and turns, and not waste time or energy on regrets and wishful thinking – Alexander Elder.
Read more- https://gulfbrokers.com/en/daily-market-report-170