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24.02 - the situation in the world is not getting better

18.03.2019

 

Which segment of the market is the most unattractive today? Well, it seems that over the weekend word shares and indices have not recovered the trust of traders as we can clearly see today. We were hoping that the situation was going to change and it has. Just not in the way that we should like.

 

The further we go, the more the markets seem to lose our faith. Virus in China is not backing down and even though it has gone global long time ago, the situation seems to be getting worse with time. People outside of China are not only contracting the virus, but also dying because of it. Of course that puts a damper on the world economic growth. Traders and investors are trying to look for other safe corners, other than the ones we already know, but it is not an easy task.

 

That is exactly why we can see the growth in USD and gold today. Plus, you might notice that the growth in USD is so big, that not even JPY can increase its value today – yes, these are the results of investors putting their funds and trust into the most reliable safe haven.

 

Gold is also riding the wave of fear, taking all of the precious metals with it – higher. Oil on the other hand, being very risky cannot boast with going in the same direction. Both of the crudes are losing per-barrel price today and they are doing it pretty swiftly too.

 

Today we might need USD and gold even more than we already do. Today we are going to see German IFO Business Climate report. And we all have learned what effect German economic data are having on the markets and in EUR/USD couple. I hope that our users are not going to turn to reckless trading and will be very careful around EUR/USD couple, turning to safe havens if needed.

 

Here are the main shifts for the day:

 

Topix was barely changed percent.

Kospi decreased 3.1 percent.

Shanghai Composite declined 0.3 percent.

Hang Seng from Hong Kong lost 1.5 percent

S&P 500 futures lost 1.4 percent.

Euro grew 0.1 percent - $1.0821.

Pound was flat - $1.2939.

Yen declined 0.3 percent – 111.58 per dollar.

Canadian dollar lost 0.1 percent - $1.3264.

Tesla recovered 0.2 percent - $901.

Apple dropped 2.3 percent - $313.05.

Facebook lost 2.05 percent – $210.18.

Amazon dropped 2.65 percent – $2095.97 per share.

Google declined 2.2 percent - $1483.46.

WTI dropped 2.2 percent - $52.12 per barrel.

Brent shed 2.4 percent - $57.06 per barrel.

Gold added 1.2 percent - $1663.32 per ounce.

Silver grew 1 percent - $18.66 per ounce.

Platinum jumped 0.3 percent – $697.65.

Palladium advanced 0.2 percent - $2717 per ounce.