Market movers today

In the absence of major economic releases, focus will continue to be on the coronavirus and how fast it is spreading. In the US, we get the weekly consumer comfort survey, which could be affected by some consumer anxiety, though most likely not, as the virus has not really spread to the US.

In Europe, the ECB’s President Lagarde will address the European Parliament. While we don’t expect it to be a near-term market mover, she may reflect on the strategic review, the Green new deal and the ECB’s role in climate change.

- advertisement -

As expected, US President Trump was acquitted by the US Senate yesterday evening.

Selected market news

The positive sentiment in global equity markets continued this morning as China cut tariffs on some US goods. Furthermore, efforts continue to halt the spread of the coronavirus. Hence, we are seeing further reversal in global fixed income markets and currencies, where yields are rising, while the yuan is strengthening and the yen is weakening.

Oil is rebounding on the back of the efforts to contain the virus and on the back of OPEC+ meeting in Vienna to reach a consensus to deal with virus. The discussion is to keep the production cuts for longer or make deeper ones.

US president Trump was cleared in the impeachment trial. This was expected, as the republicans hold the majority in the Senate. Only one Republican senator voted against Trump.

Previous articleBoJ Masai: Global economy to rebound through the first half of 2020
Next articleElliott Wave View: NIkkei Has Resumed Higher
This publication has been prepared by Danske Markets for information purposes only. It is not an offer or solicitation of any offer to purchase or sell any financial instrument. Whilst reasonable care has been taken to ensure that its contents are not untrue or misleading, no representation is made as to its accuracy or completeness and no liability is accepted for any loss arising from reliance on it. Danske Bank, its affiliates or staff, may perform services for, solicit business from, hold long or short positions in, or otherwise be interested in the investments (including derivatives), of any issuer mentioned herein. Danske Markets´ research analysts are not permitted to invest in securities under coverage in their research sector. This publication is not intended for private customers in the UK or any person in the US. Danske Markets is a division of Danske Bank A/S, which is regulated by FSA for the conduct of designated investment business in the UK and is a member of the London Stock Exchange. Copyright (©) Danske Bank A/S. All rights reserved. This publication is protected by copyright and may not be reproduced in whole or in part without permission.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.