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- Nasdaq 100 futures point to a positive start after yesterday’s pullback from the recent highs and the failure to end the day above the 50-day moving average
Nasdaq 100 futures point to a positive start after yesterday’s pullback from the recent highs and the failure to end the day above the 50-day moving average. The number of confirmed cases and deaths reach a record high yesterday in the USA weigh on investors sentiment.
Nasdaq 100 futures are 0.70% higher at 8068, the Dow Jones futures are 0.61% higher at 22649, while the S&P 500 futures are 0.62% higher at 2658.
European Stocks Retreat
European stocks are trading lower by midday after dismal forecasts for the European economy. The DAX Index is 0.91% lower at 10,262 after five economic institutions in Germany are forecasting a contraction of 9.8% in the Q2 of 2020. The CAC 40 is 1.44% lower at 4,374. The Bank of France said the economy contracted by 6% in the first quarter and that every two weeks of lockdown cost the economy 1.5% in yearly growth. FTSE 100 is 1.15% lower at 5,638, while the FTSE Mib index is 1.15% lower at 17,300.
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Cryptocurrencies Continue Higher
Cryptocurrencies are trading higher as the positive momentum persists. Bitcoin price rejected again at the 50-Day Moving Average, as of writing is 1.30% higher at $7288. Ethereum is 2.80% higher at 169.15, while Litecoin is 2.45% higher at 45.82. Ripple price is 2.84% higher at 0.1980.
Crude Oil Price Turns Higher
WTI crude oil price is 1.52% higher at $23.97; Brent crude oil is 1.08% higher at $32.45. Gold price pares early losses, as of writing gold price is 0.13% higher at 1648. Silver price is 0.51% higher at $15.03.
In the forex markets, EURGBP under pressure as EU Ministers failed to agree on a rescue plan. USDJPY is 0.13% higher at 108.85. AUDUSD is 0.19% higher at 0.6177. NZDUSD is 0.02% lower at 0.5973. The Pound to Rand corrective wave approaches key point. USDCAD is 0.24% higher at 1.4025.