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Archives of “April 14, 2020” day
rssGold ETF holdings rise to all-time high
European shares end the session with mixed results
German DAX rises by 1.25%
The European major indices are ending the session with mixed results. A look at the closing levels are showing:
- German DAX, +1.25%
- France’s CAC, +0.3%
- UK’s FTSE 100, -0.87%
- Spain’s Ibex, +0.54%
- Italy’s FTSE MIB, -0.36%
In the European are ending mixed. The German and French benchmark 10 year yields moved mostly lower. Italian yields moved sharply higher.
In other markets as London/European traders look to exit:
- S&P index is up 2.13%
- NASDAQ index is up 2.96%
- Dow industrial average is up 1.79%
In the US debt market, yields are lower:
- 2 year 0.221%, -2.4 basis points
- 5 year 0.406%, -4.3 basis points
- 10 year 0.734%, -3.6 basis points
- 30 year 1.383%, -2.3 basis points
Spot gold is taking us clues from the lower dollar and is trading up $18.40 or 1.07% at $1733.75
WTI crude oil futures continued the move to the downside. The price is down $-1.22 or -5.5% at $21.19.
In the forex market a snapshot of the major currencies are showing the GBP is the strongest. The NZD has taking over as the weakest of the majors although the USD and CAD are close behind.
#Silver breaking higher to target its next big level at $16/oz
Central Banks Add More Gold To Their Reserves
New York governor Cuomo: Trump is wrong, doesn’t have ‘total authority’
Comments by New York governor, Andrew Cuomo
- Reopening must be phased, balanced
- Says that testing is key
- ‘We are not there yet’ on testing
- If reopening is not done gradually, may have to start all over
In case you missed it, Trump had a combative press conference with journalists yesterday over reopening the economy in which he said that:
“When somebody is the president of the United States, the authority is total. It’s total. The governors know that. That being said, we’re going to work with the states.”
This of course is in relation to his plans to reopen the economy on 1 May as the White House recommendations on precautionary measures are to expire at the end of the month.
Some European exchanges still down on Deutsche Boerse ‘glitch’
The situation still has not been resolved for over two hours now
Notably, the DAX is down but other cash markets such as those in Austria, Czech, Hungary and Slovenia are also down at the moment due to the technical difficulty.
According to Deutsche Boerse, there is a ‘glitch’ in its Xetra electronic trading platform but they said that they have engaged in recovery measures to make it available again.
Bloomberg is reporting that all affected equities can still be traded in Frankfurt floor trading though, so there’s that. But for now, all the screens I am seeing are frozen with last trade on the DAX being at 0725 GMT.
Nikkei 225 closes higher by 3.13% at 19,638.81
The Nikkei closes at a one-month high amid the better risk mood
Japanese stocks rallied strongly today as Asian equities also gained on the back of better-than-expected China trade balance data for March, but also as US futures kept higher after a softer performance by Wall Street in overnight trading.
The Hang Seng is up by 0.8% while the Shanghai Composite is up by 1.3% currently.
In the currencies space, this is keeping the aussie and kiwi slightly more underpinned with AUD/USD keeping above 0.6400. Meanwhile, the dollar remains softer across the board still.
Italian autos, fashion companies may reopen next week – report
La Stampa reports on the matter
I haven’t seen any official details on this just yet but just something to take note, as the pressure on the government continues to mount in recent days.
Italy announced an extension to lockdown measures to 3 May but businesses are getting nervous and anxious about the decision, hoping for better news as the virus trajectory begins to slow down over the past few days.
Although lockdown measures were extended, businesses such as timber companies, bookshops and stores selling children’s supplies are allowed to reopen starting from today.
Nikkei extends gains to over 3% on the day
Japanese stocks surge higher ahead of the closing stages
It has been mostly one-way traffic for risk trades in Asia Pacific trading, as we see the Nikkei push higher towards the end of the session with gains of over 3% now.
The Hang Seng and Shanghai Composite are also up by 1% on the day with US futures at session highs at the moment, seeing gains of over 1.6%.
Better-than-expected Chinese trade balance data can be said to be among the reasons for the improved risk mood as investors are clinging on to whatever optimism they can ahead of earnings season in Wall Street that is set to begin today.
In turn, this is keeping the aussie and kiwi underpinned ahead of European trading. AUD/USD is up by about 0.7% to 0.6425 while NZD/USD is up by 0.5% to 0.6122.