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 stocks advance despite record single-day COVID-19 cases spike

18:04 10 July 2020

Global financial now seem to be weighing the ongoing coronavirus spike as cases and deaths continue to rise at a worrying rate. Yesterday the U.S. recorded another single-day record - over 60,000 cases in a 24-hour period. Globally there have been more than 223,000 new infections. 

European shares accelerated gains throughout today’s session and major indices finished the day over 1% higher. DAX added 1.15% while CAC 40 gained 1.01%. Even though American equities opened flat, moods quickly improved amid promising news on Gilead’s remdesivir drug. Worth noticing: tech stocks lag today as DJIA, S&P 500 and Russell 2000 are posting gains. 

Oil prices have been following stock markets momentum as both Brent and WTI are adding roughly 1%. Gold prices broke below crucial $1800 level as investors tend to bet on riskier assets today. Nevertheless, silver is still in the green territory. 

In terms of economic calendar, some investors must have been particularly interested in several PPI reports today. The reading from the U.S. might have shocked as prices unexpectedly fell 0.2% MoM in June (vs expected: +0.4%). French and Italian industrial production came in well above expectations. The former rose in May 19.6% while the latter soared a staggering 42.1% MoM (exp: +22.8%). Finally labour market data from Canada managed to beat forecast as well. There have been almost 1 million new jobs added in June while markets anticipated that employment change amounted to 700k. 

Monday will not bring any crucial economic events. Apart from unemployment rate from Sweden, investors should focus on current newsflow. Political disputes may also be of great importance for the markets especially that the presidential campaign in the U.S. has been slowly gathering pace. 

DE30 has completely erased yesterday’s declines. Nevertheless, the index reached crucial resistance level where sellers regained control. This barrier is strengthened by previous price reactions and 1:1 market geometry (12,650 pts). 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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