Morning wrap

  • US indices finished yesterday's session with solid gains. S&P 500 gained 1.45%, Dow Jones added 1.22% and Nasdaq moved 0.77% higher.

  • Trading in Asia is muted as many markets are shut for holidays. Shares in China pull back while equities in South Korea and Japan gain.

  • Number of confirmed coronavirus cases jumped above 1.6 million. Death toll stands at 95.7 thousand. While deaths continue to rise rapidly, growth in new cases has been flat in the past 2 days. Over 350 thousand people recovered 

  • The Federal Reserve announced new loan programmes worth $2.3 trillion yesterday. Reserve will expand its purchases to include junk bonds

  • Eurogroup agreed on €540 billion stimulus package aimed at limiting negative impact of Covid-19 outbreak on the economy

  • OPEC+ meeting ended without a deal after Mexico abandoned talks. G20 energy ministers will meet today as planned

  • Condition of Boris Johnson is improving. UK Prime Minister has been moved from intensive care unit to hospital ward

  • China's CPI inflation decelerated from 5.2% to 4.3% YoY (exp. 4.9% YoY)

  • CAD and JPY are top moving major currencies. NOK and SEK are the weakest. USD steadied after weakening yesterday. Overall, trading ranges are narrow. MXN and TRY decline against USD

  • Gold surged yesterday and closed near $1680. Oil sank after oil producers failed to ink a deal. WTI dropped to below $23

Growth in new coronavirus cases has been flat in the past 2 days. Nevertheless, the death toll continues to grow rapidly. Source: worldometers, XTB Research

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Morning wrap
When performing transactions in the OTC Forex market, the possibility of making a profit is inextricably linked with the risk of losses.