S&P 500 futures trading lower ahead of the opening bell as investors await the first data, which will include the coronavirus impact on the economy. Jobless claims will be released at 12:30GMT and many analysts expect an increase over 30% from the previous data; the consensus is for 1.65 million new claims which would be more than twice the previous record high set during the 2008 crisis. Jobless claims will give a real-time read on the damage of the real economy amid the coronavirus outbreak. Central bankers and governments across the globe announced relief measures as the confirmed coronavirus cases and deaths rise across the globe. Also today we have the February goods trade figures and another look at the fourth-quarter GDP. The Kansas City Fed will report its March survey results.
The Dow Jones futures are 0.32% lower at 20959, while the Nasdaq futures are 0.63% lower at 7425. The S&P 500 futures are 0.78% lower at 2444.
European Stocks Retreat
European indices trading lower as Spain had its deadliest day. The DAX Index is 1.63% lower at 9,713. The CAC 40 is 1.38% lower at 4,371. FTSE 100 is 1.42% lower at 5,608 after weaker than expected retail sales. FTSE Mib index is 0.45% lower at 17,168.
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Cryptocurrencies Slightly Lower
Cryptocurrencies trading slightly lower by midday, Bitcoin Price rebound from recent lows intact above $6,500 and is 0.81% lower at $6646. Ripple Price (XRPUSD), bearish flag intact but shorter timeframe suggests buying pressure, as of writing the Ripple price is 0.04% lower at 0.1617. Ethereum is 0.59% lower at 135.62, while Litecoin is 0.54% higher at 39.51.
Crude Oil Price Lower
Crude oil price is lower as the global lockdown now affects over 1.3 billion people. The WTI crude oil is 2.78% lower at $23.80. Brent crude oil is 1.52% lower at $27.02. Gold price pair trades 0.18% lower at 1614. Silver Price XAGUSD Ichimoku Pattern suggests an imminent 7% rally; now the Silver price is 0.13% lower at $14.37.
In the forex markets, GBPZAR surges ahead of BOE interest rates decision. The British pound is 0.91% higher against the greenback at 1.1989. AUD to GBP is weaker despite negative UK retail sales. US dollar index is 0.85% lower at 100.12, EURUSD is 0.83% higher at 1.0970. The Aussie dollar is 0.93% higher against the USD, while NZDUSD is 0.80% higher at 0.5894.