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 rose amid coronavirus treatment hopes and lockdown pullbacks

18:24 17 April 2020

• Gilead Sciences' (GILD.US) new experimental drug show signs of being effective in treating coronavirus
• President Trump plans to reopen American economy
• Stocks traded in green  on hopes for coronavirus treatment

European indices finished today's session higher as investors hope that an experimental drug developed by Gilead Sciences could help treat Covid-19. The markets have also responded positively to the news that some countries will start loosening the restrictions imposed to combat the rapid spread of the coronavirus despite the fact that  the number of infections is still increasing. Dax finished today’s session 3.2% higher, CAC40 rose 3.4% , FTSE 100 gained 2.8 %, IBEX35 advanced 1.7%.

U.S. stock markets opened sharply higher only to erase some of their gains, as President Trump unveiled plans to reopen the US economy. States that have seen a consistent decline in the number of coronavirus infections can allow public interactions in a month.  US indexes were also supported by an 7.7% rise in Gilead Sciences (GILD.US) stock and by news that Boeing (BA.US) is planning to partially resume production at its Washington state plant from Monday. The dollar index dropped slightly to around 99.8 after two days of gains. Dow Jones advanced 1.98%, S&P rose 1.8% and NASDAQ gained 0.73%.

Hopes that a coronavirus treatment is near completely overshadowed the recent disastrous US economic data and more importantly, today's GDP data for the first quarter from China which fell by 6.8% y / y and almost 10% compared to the last quarter of last year. In addition, retail sales fell by more than 15% in March. This is a smaller number compared to February, however analysts expected a decline of just 10%.  More importantly, China reported worrying death statistics from the Wuhan region, adding more than 1,000 cases today. Despite this, sentiment in Asian markets remained very positive.

There are no major data prints scheduled for release on Monday besides China’s deposit and loan rate . On the earnings front IBM, M&T Bank Corp., Zions Bancorporation and Philips N.V will publish their quarterly results. Next week, investors will try to asses whether the virus is at its peak or has reached its peak in some countries and regions. Needless to say, financial markets will pay attention to further updates regarding coronavirus outbreak.

USDCAD – yesterday bulls failed to test the 1.4289 resistance level. Today  price made a small pullback and  is heading towards major support at 1.3909. This level is also being strengthened by previous price reactions and crosses with the downward trend line. As long as the price sits above this confluence zone, upward move may occur. However if the bears take control of the market then support at 1.3709 may come into play. 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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