Dow Jones poised for a positive start on positive news of a possible trade deal between the EU and USA and easing worries about the coronavirus outbreak in China and other countries in the region. Meanwhile China confirmed 473 of coronavirus cases. The coronavirus news hit yesterday, transportation and tourism stocks around the globe. The S&P 500 futures are 0.38% higher at 3332 making fresh record highs. The Dow Jones futures are 0.31% higher at 29268, while the Nasdaq futures are 0.66% higher at 9,231.
European indices trading mixed midday. FTSE 100 is 0.01% higher at 7,611. Investors focus will be on the BOE policy meeting later in January. The DAX Index is 0.16% higher at 13,578 helped by better ZEW Survey data yesterday. The CAC 40 is 0.12% higher at 6,053 while the FTSE MIB is 0.29% lower at 23,775 as Luigi Di Maio will resign as leader of the Five Star Movement. The move might weigh on the government and wll increase the chances of snap election in Italy.
Asian Indices Rebound
Asian indices recovered yesterday’s losses as traders are buying the dips. The same happened and during the Iran-USA tensions. The Nikkei 225 ended 0.70% higher at 24,031 as yesterday the Bank of Japan kept interest rates unchanged. The Hang Seng closed up 1.27% at 28,341 the Shanghai Composite finished 0.28% higher at 3,060. In Singapore the FTSE Straits Times Index ended 0.21% higher at 3,253. In Australia the ASX 200 finished 0.94% higher at 7132.
Cryptocurrencies started the session higher but as of writing most of the cryptos has turned in the red. BTCUSD is 0.89% lower at 8643 while the Litecoin is 0.90% higher at 58.01. Ethereum is 1.18% lower at 167.36. XRPUSD is 0.84% lower at 0.2343.
GBP Breaks Above 1.31
In forex markets, AUD to GBP hits 10-day lows on weak Aussie consumer confidence data. GBPUSD breaks above 1.31 as market bet that BOE will not cut interest rates next week. EURUSD is 0.02% lower at 1.1079 despite yesterday’s stronger German ZEW survey.
In commodities markets, the crude oil price is 0.57% lower at $58.05 while the brent is 0.54% lower at $64.21. Gold price is 0.39% lower at $1,554. Silver price bulls capped at $18.12 and as of writing trades 0.07% lower at $17.75