Nasdaq 100 futures jump on premarket trading on news that new coronavirus cases and death rate in Spain Italy and France dropping for the third consecutive day. Germany is preparing a plan to exit the lockdown. In the forex calendar today we expect from Canada the Bank of Canada’s Q1 business outlook survey at 1430 GMT.
The economic data was disastrous the previous week with jobless claims hitting an all-time high for the previous week. The jobless claims came in at 6.64 million, topping the expectations of 3.50 million. Adding the last week jobless claims figures, we have almost 10 million new Americans claiming unemployment benefits in the last two weeks.
Nasdaq 100 futures are 3.58% higher at 7792, the Dow Jones futures are 3.40% higher at 21671, while the S&P 500 futures are 3.45% higher at 2568.
European Stocks Rally
European indices trading sharply higher by midday, the DAX Index is 4.41% higher at 9,945. The CAC 40 is 3.30% higher at 4,292. FTSE 100 Index rallies as Rolls Royce scraps dividends and halts target, as of writing is 2.01% higher at 5,524, while the FTSE Mib index is 2.83% higher at 16,847.
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Cryptocurrencies at Daily Highs
Cryptocurrencies trading over 5% higher, Bitcoin price breaks above $7,000, targeting $7,523, and is 5.57% higher at $7152. Ethereum is 9.24% higher at 156.34, while Litecoin is 6.19% higher at 42.88. Ripple price is 5.55% higher at 0.1895.
Crude Oil Price Retreat
WTI crude oil price is 3.92% lower at $27.25 as the OPEC meeting canceled due to technical factors. Brent crude oil is 5.05% lower at $33.18. Gold price trades higher adding 1.55 at $1641. Silver price is 1.25% higher at $14.55.
In the forex markets, USDTRY rises to 18-month highs as coronavirus spreads in Turkey. AUDUSD is 1.48% higher at 0.6079. NZDUSD is 1.45% higher at 0.5943. EUR to GBP targets 0.8610 as Johnson remains in hospital. EURUSD is 0.15% lower at 1.0784.
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