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11.02 - coronavirus brought optimism to the markets today



Today was a very intense day for the world markets. Today we learned about GDP of GBP and as well as got additional information about post-Brexit European economy from the President of ECB Lagarde. And as if that wasn’t enough, we also heard from Jerome Powell from Fed and Governor Carney from BOE. In short – today, for the first time in weeks we learned about economy outside of Asia and China. But. Having said that I should also note, that we are not to forget about China.


Why can’t we just happily live without info about China? Well, because coronavirus influence is still there and I am willing to bet that you will never guess what it brought to us today – optimism. Yes! This deadly disease has finally shed a ray of hope onto the world as Chinese officials are saying that after this month the virus might start dying out, which is exactly the news we were hoping for.


You see, for the first time ever it seems like we can beat it and that couldn’t help but bring optimism towards our outlook of the world markets, but that can be evidenced by today’s performance of Asian stocks in general and Chinese in particular. But of course, things like that do not come without repercussions. Elevated interest towards Asian segment of the market means that safe havens are going to be on the downside, which is exactly what happens.


Gold and other precious metals are looking down today as is yen and even the greenback itself. Of course, after Brexit, weak USD is just what European and British economies need, but we hope that it will find its pace soon enough.


Here are the main changes for the day:


Topix dropped 0.0.7 percent.

Kospi added 1 percent.

Shanghai Composite added 0.4 percent.

Hang Seng from Hong Kong recovered 1.3 percent

S&P 500 advanced 0.55 percent.

Euro dropped 0.2 percent - $1.0914.

Pound recovered 0.1 percent - $1.295.

Yen nudged 0.1 lower – 109.89 per dollar.

Canadian dollar grew 0.2 percent - $1.3285.

Tesla lost 0.5 percent - $767.64.

Apple increased 0.4 percent - $322.89.

Facebook declined 1.2 percent – $210.72.

Amazon advanced 2 percent – $2176.61 per share.

Google increased 1.2 percent - $1527.16.

WTI added 1.5 percent - $50.37 per barrel.

Brent grew 1.8 percent - $54.36 per barrel.

Gold dropped 0.5 percent - $1564.49 per ounce.

Silver shed 0.7 percent - $17.64 per ounce.

Platinum nudged 1.1 percent higher– $968.34.

Palladium dropped 0.5 percent - $2336.7 per ounce.