27th April 2020 Overnight Market Wrap

27th April 2020 Overnight Market Wrap

Key Points

  • U.S. stocks firm on Friday as pre-weekend position squaring dominates
  • U.S. Durable Goods fall 14.4% in March
  • Unconfirmed Rumor: North Korea’s Kim Jong-Un has died

Bias: Risk neutral

Commentary

U.S. stocks finished slightly firmer on Friday, with a bounce in tech and financial stocks leading the indexes firmer. An apparent base in oil prices saw short-coverers come in and support the market ahead of the weekend. On the data front, U.S. Durable Goods fell 14.4% in March.

The USD was broadly weaker on Friday, although moves were within tight ranges. Reports that North Korea’s Leader Kim Jung-Un is either brain dead, very sick or dead had little impact on trade, with most players awaiting confirmation.

Oil prices seemed to have found a floor, posting a small bounce on the day on Friday. Gold edged lower, amid light volume trade.

Bias

Expect a very quiet session in Asia today, with the Monday factor, combining with a lack of fresh cues from overnight trade and a complete lack of local data. No range extensions are expected. The BoJ will meet today, with the market expecting further measures from the Japanese Central Bank.

Trade the global markets with a broker that has integrity, honesty and transparency at its core

This website is owned and operated by the Ox Securities group of companies, which include:
Ox Securities Pty Ltd registered address Level 37, 1 Macquarie Place, Sydney NSW 2000 Australia. AFSL 438402 ACN 163 551 602
Ox Securities Limited (SV) registered address Suite 305, Griffith Corporate Centre, Beachmont, Kingstown, St Vincent and the Grenadines
Risk Warning: The information contained on this website is general in nature and does not constitute advice or a recommendation to act upon the information or an offer. The information on this website does not take into account your personal objectives, circumstances, financial situations or needs. You are strongly recommended to seek independent professional advice before opening an account with us and/or acquiring our services/products. Ox Securities Limited (SV) do not accept applications from residents of the United States of America and Australia
Before you decide whether or not to invest any products referred to on this website, being over the counter (OTC) derivatives, it is important for you to read and consider our Financial Services Guide (FSG), Product Disclosure Statement (PDS), and Terms and Conditions (T&C), and ensure that you fully understand the risks involved. Fees, charges and commissions apply. OTC derivatives, including margin foreign exchange contracts and contract for differences, are leveraged products that carry a high level of risk to your capital. Trading is not suitable for everyone. You may incur losses that are substantially greater than your initial investment. You do not own, or have any rights to, the underlying assets which the OTC derivative is referring to. You should only trade with money you can afford to lose. There are also risks associated with online trading including, but not limited to, hardware and/or software failures, and disruptions to communication systems and internet connectivity.

Copyright © OxSecurities 2020. All rights reserved