CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% 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. 77% 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: Stock markets rebound

18:03 19 February 2020
  • Stock indices rebound following yesterday’s pessimistic moods

  • Gold prices keep rising

  • Oil prices surge over 2%

 

On Wednesday stock indices tend to rise as yesterday’s pessimistic mood vanished into thin air. Asian stock markets closed higher (apart from Shanghai Composite) with HSCEI rising as much as 0.96% and Nikkei 0,89% up. The majority of european indices rose as well, in many cases with gains around 1%. Major US indices opened higher too. 

 

In terms of coronavirus updates, there have been more than 75 thousand cases with 2,010 deaths worldwide. China’s officials mentioned possible further measures in order to help its  economy recover from the outbreak. Following Apple’s warning, some new companies briefed about rough time for their businesses in Asia, for instance Adidas and Puma. Interestingly enough, IMF informed that it sees a rebound in global growth in 2020 despite coronavirus uncertainty. 

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Gold prices keep rising today after breaking $1600 level during yesterday’s session. Bulls are still pushing the price higher as gold is now trading at around $1608. The apparent reason for higher demand for gold may be a potential fallout from the coronavirus outbreak with gold regarded as a real safe haven. Moving to other commodities, oil prices surge with gains around 2% with Brent nearing $60 a barrel. 

 

EUR/USD is trading flat but still below 1.08 level. One should particularly pay attention to FOMC minutes as it may spur some volatility. The US dollar is still in a comfortable position after positive data from the US housing market. The recent reading indicated that building permits jumped 9.2% MoM in January to 1.551 million. These are actually the highest figures since March 2007. 

 

Tomorrow investors should pay attention to retail sales report from the UK as well as crude oil inventories from the US. Also, employment change in Australia may be of big importance for AUD traders.

Bulls are still pushing the price higher as gold is now trading at around $1608. Source: xStation5

This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 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. XTB 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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