Asian markets remain flat while investors wait for the news
Asian markets start this week of trading with caution. Traders are getting ready to move in accordance with the upcoming earnings reports and other major economic data.
At the same time, European stocks continue to develop their earlier gains. EUROSTOXX 50 futures gained 1.23%, DAX earned 1.26% and FTSE climbed 0.93%. After a rapid growth of last week, E-Mini futures for the S&P 500 tumbled down 0.46%.
According to the latest data, Japanese exports dropped around 12% last month. Exports to the US lost around 16% of their volume. Nikkei is down 1.19%. Yet China’s stock has gone up 0.37%, riding the optimism caused by the lending rate’s reduction in order to help the impacted economy, that has experienced its first reduction in three decades.
US remains heavily impacted by the pandemic with over 750 000 people infected. Nevertheless, US dollar keeps its steady growth on forex market.
Oil prices are still depressed. The lockdowns around the world are hurting the demand. At one point futures contract for May deliiveries of US crude were trading at US$14.8 per barrel, losing 18%. June futures lost 6.19% and were down to US$23.48.