• Latest
  • Trending
  • All
Rising virus cases push stocks lower, oil rally at risk

Rising virus cases push stocks lower, oil rally at risk

September 18, 2020 04:30
Equities struggle amid economic and China-related concerns

Equities struggle amid economic and China-related concerns

December 29, 2022 08:55
Dollar lacks upside momentum due to lower Treasury yields

Currencies stuck in ranges as New Year holiday looms

December 28, 2022 07:01
Stocks gain, dollar eases ahead of job market data

Dollar pressured by positive risk sentiment in thin markets

December 27, 2022 04:50
Dollar lacks upside momentum due to lower Treasury yields

Dollar tries to shrug off the pressure

December 26, 2022 05:13
Investors spooked by strong US data

Investors spooked by strong US data

December 23, 2022 11:55
Dollar lacks upside momentum due to lower Treasury yields

Dollar back under pressure after short-lived relief

December 22, 2022 05:17
Risk demand reemerges cautiously, but caution remains in place

Risk demand reemerges cautiously, but caution remains in place

December 21, 2022 08:49
Dollar lacks upside momentum due to lower Treasury yields

US dollar resists selling pressure

December 20, 2022 10:44
Market sentiment dented by recession fears

Market sentiment dented by recession fears

December 19, 2022 02:53
Dollar lacks upside momentum due to lower Treasury yields

Greenback stays on the defensive nearly across the board

November 16, 2022 05:34
Investor sentiment improves, but gains limited

Investor sentiment improves, but gains limited

November 15, 2022 05:46
Dollar lacks upside momentum due to lower Treasury yields

Dollar licks wounds after plunge

November 14, 2022 05:05
  • Terms & Сonditions
  • Contact
Tuesday, February 7, 2023
FWNews - pulse of the forex market
  • FUNDAMENTALS
    Equities struggle amid economic and China-related concerns

    Equities struggle amid economic and China-related concerns

    Stocks gain, dollar eases ahead of job market data

    Dollar pressured by positive risk sentiment in thin markets

    Investors spooked by strong US data

    Investors spooked by strong US data

    Risk demand reemerges cautiously, but caution remains in place

    Risk demand reemerges cautiously, but caution remains in place

    Market sentiment dented by recession fears

    Market sentiment dented by recession fears

    Investor sentiment improves, but gains limited

    Investor sentiment improves, but gains limited

    Risk sentiment keeps deteriorating, dollar climbs

    Stocks celebrate US inflation, dollar slumps

    Virus, US-China tensions hit global markets

    Market sentiment turns cautious amid events in the US

    Investors look indecisive ahead of another volatile week

    Investors look indecisive ahead of another volatile week

  • TECHNICALS
  • Interest Rates
  • Economic calendar
  • Backstage
No Result
View All Result
FWNews - pulse of the forex market
  • FUNDAMENTALS
    Equities struggle amid economic and China-related concerns

    Equities struggle amid economic and China-related concerns

    Stocks gain, dollar eases ahead of job market data

    Dollar pressured by positive risk sentiment in thin markets

    Investors spooked by strong US data

    Investors spooked by strong US data

    Risk demand reemerges cautiously, but caution remains in place

    Risk demand reemerges cautiously, but caution remains in place

    Market sentiment dented by recession fears

    Market sentiment dented by recession fears

    Investor sentiment improves, but gains limited

    Investor sentiment improves, but gains limited

    Risk sentiment keeps deteriorating, dollar climbs

    Stocks celebrate US inflation, dollar slumps

    Virus, US-China tensions hit global markets

    Market sentiment turns cautious amid events in the US

    Investors look indecisive ahead of another volatile week

    Investors look indecisive ahead of another volatile week

  • TECHNICALS
  • Interest Rates
  • Economic calendar
  • Backstage
No Result
View All Result
FWNews - pulse of the forex market
No Result
View All Result

Home » Rising virus cases push stocks lower, oil rally at risk

Rising virus cases push stocks lower, oil rally at risk

by Stephen Soo
September 18, 2020 04:30
in Fundamental analysis
0
Rising virus cases push stocks lower, oil rally at risk

The World Health Organization warned of a very serious situation arising in Europe as cases rise significantly


US stocks finished lower on Thursday but came off lows registered during the session, as investors digested poor economic data, with both jobless claims and construction sector figures came in worse than expected. The Dow Jones Industrial Average closed 0.4% lower, the S&P 500 index fell 0.8%, and the Nasdaq Composite Index retreated 1.3%.


Asian stocks were mostly higher but gains were limited on Friday. Japan’s Nikkei 225 inched up 0.05% after the data showed that the core consumer price index fell 0.4% in August year-on-year. South Korea’s Kospi gained 0.21%, Hong Kong’s Hang Seng Index edged down 0.11% while China’s Shanghai Composite rallied over 2%. 


In Europe, equities are mostly lower on Friday amid surging coronavirus cases in the continent, with cases having now passed 30 million worldwide. Furthermore, the World Health Organization warned of a very serious situation arising in Europe as cases rise significantly. As for the data, the UK retail sales rose by 0.8% in August, slightly outpacing average economist expectations. FTSE 100 is trading nearly 0.5% lower while France’s CAC 40 and Germany’s DAX 30 are losing 0.47% and 0.05%, respectively. 

Meanwhile, the dollar remains on the defensive after a short-lived bounce in the aftermath of the Federal Reserve meeting. EURUSD has settled around the 20-DMA, refraining from challenging the 1.19 handle. The current dynamics in the pair looks neutral, with downside risks persisting as long as the euro remains below the mentioned barrier. 


In the oil market, Brent crude extended the rally to $43.80 and retreated partially in recent trading. The latest ascent in oil futures was due to the news that Saudi Arabia gave non-compliant members of the deal until December to make up for any overproduction. Meanwhile, Russian Energy Minister Alexander Novak said he was expecting global oil demand to recover in Q2 next year. Considering a strong three-day rally, Brent could be at risk of a downside correction in the short term as traders may proceed to profit-taking ahead of the weekend.

Tags: BRENTDAXDOW JONESEURUSDFederal ReserveFTSE 100NasdaqNikkei
Share3Tweet2
ADVERTISEMENT
Stephen Soo

Stephen Soo

Stephen's specialty is fundamental analysis. He graduated from the Booth School of Business, the University of Chicago. Stephen currently cooperates with several news agencies, and on FWNews he publishes macroeconomic news and reviews on brokerage companies.

Related Posts

Equities struggle amid economic and China-related concerns
Fundamental analysis

Equities struggle amid economic and China-related concerns

December 29, 2022 08:55
16
Dollar lacks upside momentum due to lower Treasury yields
Technical analysis

Currencies stuck in ranges as New Year holiday looms

December 28, 2022 07:01
12
Stocks gain, dollar eases ahead of job market data
Fundamental analysis

Dollar pressured by positive risk sentiment in thin markets

December 27, 2022 04:50
12
Dollar lacks upside momentum due to lower Treasury yields
Technical analysis

Dollar tries to shrug off the pressure

December 26, 2022 05:13
12
Investors spooked by strong US data
Fundamental analysis

Investors spooked by strong US data

December 23, 2022 11:55
11
Dollar lacks upside momentum due to lower Treasury yields
Technical analysis

Dollar back under pressure after short-lived relief

December 22, 2022 05:17
16

Leave Your Opinion Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

Risk sentiment looks mixed, dollar retreats marginally

Hawkish Powell boosts yields, dollar

March 22, 2022 05:24
14
Markets struggle for direction, dollar steady after gains

Stock market rally continues, pressuring the dollar

June 27, 2022 04:50
15
Stocks bounce but recovery looks fragile and unsustainable

Stocks turn mixed after a rally

January 5, 2021 05:42
36

Ads

Shneider Electric

Most Popular

A slow start to the week in FX markets
Technical analysis

Dollar regains ground to start the week

January 25, 2021 07:25
118
A slow start to the week in FX markets
Technical analysis

Greenback advances modestly amid strong data

May 28, 2021 07:38
110
Kim Jong Un reportedly says his nuclear weapons guarantee there will be no more war
News

Kim Jong Un reportedly says his nuclear weapons guarantee there will be no more war

July 28, 2020 08:29
95
FWNews

Copyright © 2022 FWNews

  • Terms & Сonditions
  • Contact
No Result
View All Result
  • FUNDAMENTALS
  • TECHNICALS
  • Interest Rates
  • Economic calendar
  • Backstage

Copyright © 2022 FWNews