Yesterday, Wednesday, most indices closed in positive territory. In both Europe and the US, the numbers improved slightly. The DAX30, IBEX35, and CAC40 along with the SP500 closed higher, breaking the bearish trend of the last few days. The positive curve also on the Asian continent NIKKEI, at the time of writing, was up 2.05%.
Despite the latest concerns about the significant increase in coronavirus contagions around the world, the release of corporate results (especially with Netflix subscriber growth) seems to have buoyed investor sentiment.
One of the big losers in yesterday’s session was oil. Rising inventories have been viewed with concern in the market, which extended the decline in this commodity.
What to watch:
Today is an important day in Europe. The European Central Bank (ECB) is scheduled to release data today, Thursday. It will release its decision on interest rates, monetary policy, and the European inflation outlook. The subsequent press conference will present the outcome of the meeting. Traders should watch these statements closely and keep a close eye on the euro.
At the same time, today, Thursday, US home sales will be released. Last month’s figure put the numbers at 6.22 million while the forecast is down to 5.69 million. Investors will be watching closely to see whether the forecast is met and whether the numbers affect the market. So far this year, housing numbers have been negative against forecasts of an increase. This month the decline is expected to continue.
Tuesday was particularly bearish, Wednesday was bullish. The market is in turmoil, what will it be like for today’s trading session? Trade the markets and triple your trading potential with Traders Trust’s 200% Deposit Bonus.