Global markets rebounded late and US markets closed in positive territory despite WHO declaration that the coronavirus a global outbreak. EU markets are marginally higher this morning following a red day yesterday and the Nikkei is up 1% this morning following the late US rebound as markets expect positive from the steps taken from the Chinese government to stop the epidemic. FX markets finally saw the dollar index lose ground after 5 positive days. the index is at 97.9 this morning. Gold closed higher for the 4th day in a row yesterday, at $1,578 per ounce and is trading lower this morning while Silver traded sharply higher yesterday, closing at $17.76 per ounce and up 2.2% on the day. Oil price continue to dive on global slowdown fears and higher than expected US stockpiles, closing at $52.57 per barrel yesterday, at 5-month lows yet showing a double bottom pattern on daily chart.

CAD GDP at 1:30 pm and US Chicago PMI at 2:45 pm are the important news on the agenda Friday, (All times GMT).


Global Markets 24 hours wrap-up
1 YEAR18.1%5.7%17.92%17.07%11.71%26.75%
Swing report
EURUSD1046122024/11050SL Changed
GBPUSD30221-38830/13050stopped out
OPEN PROFIT  $220   

Oil prices show support on all time frames at the $50 area.

Silver prices jumped 2.2% yesterday as investors move into “safe heavens” fearing the spread of the coronovirus and possible slowdown in global growth near term.

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