Some wild swings were observed on the global financial markets in the past few days. Streak of declines on Wall Street was put to an end yesterday when the US stock market indices experienced the biggest one-day surge since 2009. Stocks in Asia benefited from this improvement of moods and rushed higher. However, China was an exception as data suggesting decline in manufacturers’ profits spoiled sentiment there. On Thursday morning it seemed that European investors will also turn bullish as major stock markets from the Old Continent opened reasonably higher. Nevertheless, as the time passed European equity indices began to erase gains and are trading significantly lower at press time.
Beginning of the US session was far from upbeat as well. All three major indices from Wall Street launched Thursday’s trading lower. Nasdaq and Dow Jones are both declining almost 2% at press time. US dollar and Antipodean currencies are underperforming today as capital flows to safe haven markets. In turn we are observing good performance of JPY, CHF or precious metals. Speaking of commodities it should be noted that oil is plunging today. After over 7% jump yesterday both major grades of crude oil are trading over 2% lower today. Apart from that, commodities are trading mixed today with big price moves being seen on the cocoa and nickel markets
