- U.S. President Trump announces guidelines to reopen U.S. markets
- U.S. Initial Jobless claims prints above 5mln again
- Canada announces its own stimulus package
U.S. stocks finished slightly better, with high techs outperforming bricks and mortar companies as health care and tech companies found some bargain hunting. After the close, U.S. President Trump unveiled new guidelines to reopen U.S. markets, which should support equities today.
The USD rallied in early overnight trade, before stalling on the (as expected) U.S. Initial Claims numbers. CAD outperformed on news of a Canadian stimulus plan, while commodity currencies were quiet ahead of today’s Chinese economic data.
Crude Oil prices were little changed amid a lack of fresh trading incentives, while gold prices gave back some of the recent gains.
The market should find support today amid Trump’s “market reopening plan” although the upside will be capped in Asia ahead of a swag of Chinese economic data. The docket includes GDP, Industrial Production, Retail Sales and Unemployment numbers.