[email protected]: ASX set for positive start, Nasdaq hits record high – Sydney Morning Herald

3. United States still gazing down a second wave: On the other side of the ledger, simmering about the COVID-19 pandemic, and the possibility of a “2nd wave” of infections, knocked US stocks from their intra-session highs. US COVID-19 cases continue to increase, with the state of California and the state of Texas both recording their biggest daily jump in cases yesterday.The lift in the United States caseload has actually prompted EU leaders to canvas barring American visitors to the continent, in order to restrict the danger of a second wave throughout Europe.4. Markets hit patch of turbulence on Navarro trade remarks: On top of COVID-19 concerns, trade-war problems went back to the fore yesterday– albeit briefly. Threat assets took a swan dive in Asian trade, after US President Trump trade advisor Peter Navarro stated in an interview that the US-China trade-deal was “over”. In an extremely rapid about-face as worldwide markets entered into a tail-spin, the White House moved quickly to extinguish the marketplaces panic, with Navarro stating in a separate media interview that the remarks were “taken extremely out of context” and US President Trump requiring to Twitter to reassure the US-China trade pact was “fully intact”.5. ASX200 continues to trade sideways: The trade-war hiccup led to a rough session for the ASX200 the other day. Eventually, it proved to another lukewarm days trade for Australian stocks. The index ended up 0.17 per cent higher, in a days trade that saw the marketplace sell a reasonably narrow range.Perhaps a heartening indication for market participants, the ASX200s gains were paced by the COVID-19 sensitive realty and consumer discretionary sectors. That vibrant emerged regardless of still simmering fears that the state of Victoria is teetering on the edge of its own 2nd wave of the pandemic. SPI Futures are suggesting a 9-point dive for the ASX200 this early morning.6. FX markets reflect glimmers of hope: Once once again, currency markets portrayed finest the prevailing belief in the market. The US Dollar alleviated somewhat with the Japanese Yen, while the Euro and European currencies edged higher with European sovereign bond yields, courtesy of the much better than expected European PMI surveys.The Australian Dollar was marginally higher, still following approximately the swings in United States equities. Likely owing to a drop in the US Dollar, along with another fall in genuine yields, Gold rates struck the $US1770 mark in US trade, to trade at a fresh 8 year high.7. What to watch in the day ahead: The financial calendar remains relatively light-on today. The Asian session will be highlighted by the conference of the RBNZ this afternoon, with that reserve bank anticipated to keep policy settings unchanged.All eyes will be on the RBNZs accompanying statement, for any tip it may be canvassing the possibility of any additional unorthodox monetary policy such as negative interest rates, or a foreign asset acquiring program. The over night session will be fairly quiet when it concerns data, but traders will be keeping an eye on this weeks United States Crude Inventory data.8. Market watch: ASX futures up 9 points or 0.2% to near 5934 at 6.59 am AESTAUD fetching 69.28 United States cents at 7.34 am AESTOn Wall St: Dow +0.5% S&P 500 +0.4% Nasdaq +0.7% In New York: BHP +1.5% Rio +1.4% In Europe: Stoxx 50 +1.8% FTSE +1.2% DAX +2.1% CAC +1.4% Spot gold approximately $US1768.41 an ounceBrent crude -1% to $US42.63 a barrelUS oil -0.9% to $US40.37 a barrelIron ore -1.1% to $US100.62 a tonneThis column was produced in industrial collaboration in between The Sydney Morning Herald, The Age and IGInformation is of a basic nature only.Most Viewed in BusinessLoading

US COVID-19 cases continue to rise, with the state of California and the state of Texas both taping their greatest everyday dive in cases yesterday.The lift in the United States caseload has actually prompted EU leaders to canvas disallowing American visitors to the continent, in order to restrict the danger of a 2nd wave throughout Europe.4. Likely owing to a drop in the US Dollar, along with another fall in genuine yields, Gold rates hit the $US1770 mark in US trade, to trade at a fresh 8 year high.7. Market watch: ASX futures up 9 points or 0.2% to near 5934 at 6.59 am AESTAUD fetching 69.28 US cents at 7.34 am AESTOn Wall St: Dow +0.5% S&P 500 +0.4% Nasdaq +0.7% In New York: BHP +1.5% Rio +1.4% In Europe: Stoxx 50 +1.8% FTSE +1.2% DAX +2.1% CAC +1.4% Spot gold up to $US1768.41 an ounceBrent crude -1% to $US42.63 a barrelUS oil -0.9% to $US40.37 a barrelIron ore -1.1% to $US100.62 a tonneThis column was produced in commercial collaboration in between The Sydney Morning Herald, The Age and IGInformation is of a general nature only.Most Viewed in BusinessLoading