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30.03 - we are at a very low point today

16.07.2019

 

So, as the new week begins, what are we seeing happen in the world? Well, a lot of things, for example China has unexpectedly cut reverse repo rates by the most in 5 years. This is expected to help COVID-19 hit economy. But, if US experience it teaching us anything is that it might not nearly be enough. After all, Fed has already given quite a lot of money to support the shut-down country, but it seems that we have just seen the beginning of the support needed to keep US economy afloat.

 

What else? Well, it seems that the global markets are not withstanding the pressure and the major assets can’t really go against that. We can see that everything is in the red zone today. Everything but the greenback that has picked up quite the growing pace. With USD being as strong as it right now, it is no wonder that EUR and GBP have no possibility to grow.

 

Oil is still falling. With China being on the lockdown AND the biggest oil consumer, it is hard to imagine that the demand for the crude is going to start growing earlier than the lockdown is lifted which is set to happen in two weeks. China can become an excellent and much needed example of economic restoration after a full-on lockdown that went on for several months.

 

If you wanted to trade in American stock market, then I have bad news for you, you are not going to be able to do that. American stocks are very fragile and very weak right now. Trading them is setting yourself up for losses and we can find those in no time. This means that American stoks are going to keep on falling until the crisis is over.

 

Here are the main numbers for the day:

 

Topix dropped 1.6 percent.

Kospi was flat.

Shanghai Composite decreased 0.9 percent.

Hang Seng from Hong Kong decreased 1.3 percent.

S&P 500 futures are lighter by 0.2 percent.

Euro dropped 0.3 percent - $1.1077.

Pound shed 0.3 percent - $1.2382.

Yen lost 0.2 percent – 107.84 per dollar.

Canadian dollar decreased 0.4 percent - $1.4075.

Tesla lost 2.6 percent - $514.36.

Apple lost 4.1 percent- $247.14.

Facebook declined 4 percent – $156.79.

Amazon lost 2.8 percent – $1900.1 per share.

Google lost 4.5 percent- $1110.26.

WTI is lighter by 6.4 percent - $20.42 per barrel.

Brent dropped 8.7 percent - $22.86.

Gold dropped 0.45 percent - $1620.11 per ounce.

Silver plummeted by 2.7 percent - $14.03 per ounce.

Platinum lost 2.9 percent – $719.5.

Palladium dropped 1.7 percent - $2230.45 per ounce.