Morning wrap

6:40 AM May 26, 2020
  • Stock markets in Asia are rallying. Nikkei gains 2.5%, S&P/ASX 200 adds 2.2% and Kospi trades 1.5% above yesterday's close. S&P 500 futures broke above 3,000 pts mark overnight while DAX futures tested 11,500 pts handle

  • Moods on the global markets improved significantly after Novavax said it has begun human trials of its coronavirus vaccine. On the other hand, Avigan drug developed by Japanese Fujifilm will not be ready by end-May as previously expected

  • Number of confirmed coronavirus cases increased to 5.59 million. 2.36 million people recovered. Total death toll stands at 347.9 thousand 

  • Hong Kong leader Carrie Lam ensured citizens there is no need to worry about freedom or rights. Meanwhile, Hong Kong trade unions call for a general strike tomorrow

  • PM trudeau said he still has not decided whether to block Huawei from Canadian 5G or not

  • Governor Kuroda said that Bank of Japan is ready to do whatever it takes to save economy and will not hesitate to change interest rates in case it is necessary

  • Singapore GDP dropped 4.7% QoQ in Q1 2020

  • New Zealand's trade balance stood at NZ$1.267 billion in April.

  • AUD and NZD are top performing major currencies while JPY, USD and CHF decline on risk-off flows. EM currencies gain against USD

  • Precious metals gain while industrial metals trade mixed. Energy commodities gain with WTI approaching $35 handle

  • Latam Airlines, the biggest carrier in Latin America, filed for bankruptcy due to negative impact from Covid-19 

Number of new cases reported each day remains high. WHO experts warned that we may be heading for a second peak of the first wave of infections. Source: worldometers, XTB Research

Share:
Back

Trading CFDs on a leveraged basis involves a significant amount of risk. They may not be suitable for everyone, so please ensure you fully understand all of the risks.

Forex and CFDs are leveraged products and can result in losses that exceed your deposits. Please ensure you fully understand all of the risks.

Losses can exceed deposits

×