CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Daily summary: Global equity markets swung between gains and losses

18:24 16 April 2020
• Europe stocks close higher
• US stock lack direction
• US Jobless claims surged by 5.2 million last week

Most of the major European indices rebounded today, amid hopes that most affected countries might already reached a peak of the coronavirus pandemic. Yesterday German Chancellor Angela Merkel announced  plans to gradually ease the coronavirus lockdown next week, though social distancing rules will remain in place through at least May 3rd. In addition, the number of new deaths caused by the coroavirus in Italy eased. On the other hand Britain's government  announced extension of the country's lockdown for a further three weeks, aimed at curbing the rapid spread of the pandemic. Today DAX 30 gained 0.5% , FTSE 100 advanced 0.8%; the CAC 40 gained 0.2%; the FTSE MIB rose 0.7%; while the IBEX 35 lost 0.7%.

US indices are trading mixed on Thursday as investors digest latest economic data: building permits came in at a better-than-expected 1.353 million while housing starts fell faster than anticipated to 1.216 million and initial jobless claims came slightly higher than forecasts at 5.245 million. This means that over the last 4 weeks we have initially approx. 20 million new unemployed. Today both Morgan Stanley and Blackrock posted their quarterly earnings which came below expectations while those for Bank Of New York Mellon and Abbott beat estimates. President Trump is expected to deliver some national guidelines for reopening the economy during the day. Dow Jones lost 0.75%, S&P500 declined 0.7% and NASDAQ rose 0.68%. Another gains from Amazon (AMZN.US) and Advanced Micro Devices (AMD.US) helped the tech sector.

Oil prices erased part of the earlier gains in another volatile session after OPEC announced in its latest monthly report that now expects global demand to shrink by 6.9% in 2020. Earlier this session, oil prices jumped around 2% as inwestors were hoping that major oil producers could cut production even more after a record increase in US inventories. The WTI crude oil is trading slightly below $20 per barrel and the Brent traded around $27.34 per barrel.

Gold pares some gains and is trading around the $1,710 mark (spot price). Gold mining giant Newmont Goldcorp (NEM.US) went up another 2%, reaching eight-year high after saying that gold could hit $2,000 an ounce as a result of government efforts to support the world economy. The dollar index strengthened for the second straight session to 100.20.
 
Besides GDP data from China, economic calendar for Friday does not seem to be particularly interesting.  There is no much on the earnings front either. Only Schlumberger LTD (SLB.US) will post its quarterly results tomorrow.
USD/CAD  broke above the trendline and is heading towards resistance located at 1.4289 based on news that OPEC now expects global demand to  fall the most in 30 years due to the coronavirus outbreak. Only a break below key support at 1.3909 would negate the bullish scenario. Source: xStation5.

This content has been created by X-Trade Brokers Dom Maklerski S.A. This service is provided by X-Trade Brokers Dom Maklerski S.A. (X-Trade Brokers Brokerage House joint-stock company), with its registered office in Warsaw, at Ogrodowa 58, 00-876 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. X-Trade Brokers Dom Maklerski S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.

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