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Market Summary 23APR2020



1.Market Briefing

  • U.S. Treasury Secretary Steven Mnuchin warned on Wednesday that larger companies could face investigation if they apply for small business coronavirus rescue money without carefully reviewing whether they qualify for it.
  • The European Commission will next month present a set of rules for the safe reopening of air travel when coronavirus pandemic lockdowns end, including social distancing in airports and planes, the EU's transport chief said on Wednesday.
  • Canada's annual inflation rate tumbled to a near five-year low of 0.9% in March as the coronavirus crisis and an oil supply war slashed gasoline prices, Statistics Canada said on Wednesday.
  • Argentine bond prices fell, and its country risk spread widened on Wednesday as the market braced for the expected nonpayment of $500 million in interest on government bonds, spiking default fears.
  • The Dow snapped a two-day losing streak on Wednesday as Congress reached a deal on a fourth coronavirus stimulus package and the sea of red in energy abated as oil prices steadied.
  • Oil prices closed as much as 20% lower on Wednesday after two days of carnage and on President Donald Trump’s tweet authorizing the navy to destroy Iranian gunboats that harass U.S. vessels at sea.
  • Gold continued its swings in and out of the $1,700 region after U.S. lawmakers approved a new $500 billion coronavirus stimulus package.

2.Today’s News

Server Time HK Time Currency Description Expectation
10:15 15:15 EUR French Flash Services PMI 24.7
10:30 15:30 EUR German Flash Manufacturing PMI 39.0
10:30 15:30 EUR German Flash Services PMI 28.3
11:30 16:30 GBP Flash Manufacturing PMI 42.0
11:30 16:30 GBP Flash Services PMI 28.5
15:30 20:30 USD Unemployment Claims 4350K
16:45 21:45 USD Flash Manufacturing PMI 35.1