6th May 2020 Overnight Market Wrap

6th May 2020 Overnight Market Wrap

 Key Points

  • Stocks finish firmer, but off session highs. Other markets mixed
  • Fed Chairman Clarida: “V” recovery was around the corner
  • U.S. Non-Manufacturing PMI firmer than expected

Bias: Risk neutral

Commentary

U.S. stocks finished firmer, but off session highs overnight, supported by comments from Fed Chairman Clarida that a “V” recovery was around the corner. After hours trade saw a significantly worse than expected earnings result from Disney

Currencies saw the Big Dollar shadow moves in 10-year notes, with yields sliding on the day. Markets were again quiet over the global session, with volatility not returning amid recent public holidays.

Oil prices posted another bounce overnight, supported by expectations that production cuts and a recovery in demand will support prices.

Bias

Expect another quiet day in Asia today, with Japan again out on holidays. Data today sees Australian Retail Sales and a slew of European PMI numbers. Tonight sees U.S. ADP Non-Farm Payrolls

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