S&P 500
S&P 500 futures point to a strong start in cash markets on news that many states are planning to reopen the economy and on news that Bank of Japan removed the limits of its Japanese Government Bonds and increased the purchases of corporate debt. Risk-on sentiment boosts stocks in Europe, while stock markets in Asia ended with hefty gains. Investors await the two days FOMC meeting with investors focuses on any additional monetary measures by the central bank to help the coronavirus battered economy.
The Nasdaq futures are 1.17% higher at 8,871, the S&P futures are 0.95% higher at 2,856. The Dow Jones futures are 0.90% higher at 23,874.
European markets trade higher by midday. FTSE 100 is 1.53% higher at 5,840 as PM Boris Johnson returned to office for work. On Friday, the UK Retail sales slumped to 5.1% in March below the expectations for 4% fall. DAX Index is 2.55% higher at 10,600. The CAC 40 is 1.91% higher at 4,477. The FTSE Mib is 2.39% higher at 17,268; on Friday the S&P rating agency maintained its BBB rating of Italy with a negative outlook.
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Cryptocurrencies are trading mixed by midday keeping the positive momentum as most of the digital currencies are trading above the 50-day moving average. Bitcoin price (BTCUSD) breaks resistance at $7,500.00. Is it headed to $8,000.00? as of writing is 0.02% higher at 7,702. Ethereum is 1.34% lower at 195.30, while Litecoin is 0.87% lower at 44.27. Ripple price is 0.24% higher at 0.1969, a break above the recent consolidation looks possible.
Brent crude oil price is 8.62% lower at $19.92 while the WTI June delivery futures slumps to daily lows giving up 24.20% at $12.80 per barrel. Gold price retreat on Monday and is 0.37% higher at 1,721, while the Silver price is 0.11% higher at $15.23.
In the forex markets, AUDUSD relentless rally accelerates as the greenback tumbles. USDJPY is 0.34% lower at 107.07. USDCHF is 0.13% higher at 0.9737. NZDUSD is 0.87% higher at 0.6065. EURUSD is 0.29% higher at 1.0853. GBPUSD 0.56% higher at 1.2431; bulls take over as cable jumps above the triangle formation.