Energy and financial markets are declining, ignoring a US stimulus plan of two trillion dollars

0
99


Global energy and financial markets ignored the approval of the US Senate on a trillion dollar economic stimulus package, and oil and gold prices witnessed limited declines, as did the drop on European and Asian exchanges, amid continuing concerns about the outbreak of the emerging “Corona” virus and its repercussions on global economies..

Brent crude for May delivery fell 0.77% to $ 27.18 a barrel, while US NYMEX crude contracts for the same month lost 1.72% to $ 24.07 a barrel.

Oil had ended yesterday’s trading on the rise, as “NYMEX” rose by 2% at $ 24.49 a barrel, and Brent crude added about 0.9% to record $ 27.39 a barrel, amid a state of anticipation to vote on the US stimulus package, motivated by the Energy Information Administration data America, which showed a rise in oil stocks in the United States 1.6 million barrels during the week ending on the twentieth of this March, against expectations that indicated an increase of about 2.5 million barrels.

Regarding the international gold price, it continued to decline during trading on Thursday, despite the decline in the US dollar, as gold futures for June delivery fell by 0.63% or $ 10.30 to 1624 dollars an ounce, and the spot delivery price of the yellow metal lost about 0.95% or The equivalent of $ 15.37 to trade at $ 1601.53 an ounce.

The dollar index – which measures the performance of the US currency against a basket of six currencies – fell 0.2% to 100.90 points.
Gold prices ended trading yesterday, Wednesday, on a decline, ending a series of gains that lasted for four sessions, and after yesterday recorded the best daily performance in 11 years, with investors turning away from safe haven assets.

As for financial markets, European stock indices fell during morning trading today, amid increasing fears of the continued spread of the “Corona virus” and before the monetary policy meeting at the Bank of England, as the “Stokes Europe 600” index fell by 1.7% to 308 points, as it fell French “CAC” by 2.1% to 4339 points, and the British “Financial Times 100” decreased by 2.3% to 5560 points, as the German “DAX” fell by 1.9% to 9688 points.

The Bank of England is due to hold its monetary policy meeting later today, amid expectations that the interest rate will remain unchanged, as earlier this month the rate cut was 15 basis points to 0.1.%.
The global market sentiment fell ahead of the latest US jobless claims data, which is expected to show a significant increase after companies closed their doors in an attempt to slow the spread of the “Corona virus”, while ignoring the approval of the US Senate bill to stimulate financial value of two trillion dollars, in order to support the economy in Face the repercussions of the “Corona” virus“.

The historic US drilling plan includes tax breaks, loans, and direct payments to major corporations and individuals with taxpayers to help the US economy weather the sudden cessation of most activities due to the Corona epidemic, as well as support for the health care sector.

In Europe, European Union leaders will hold a virtual summit to discuss their response to the outbreak of the HIV virus, amid some criticism of the lack of a coordinated response to the crisis, while Italy and Spain are the most affected countries in Europe, with the number of deaths in each country exceeding 7,000 and 3,500, respectively..
In Asia, Asian stock indices fell at the close of trading on Thursday, as the Japanese Nikkei tumbled by 4.5% or 882 points to 18665 points, after rising by about 18% over the past three sessions. The broader Topix index fell by 1.8 % To 1399 points.

This strong retreat came after the mayor of the capital, Tokyo, “Yoriko Koike” asked the city’s residents to stay in their homes until the twelfth of April to prevent an outbreak of the “Corona” virus, amid a noticeable increase in the number of new infections.

The Shanghai Composite Index fell 0.6% to about 2765 points, the Shenzhen Composite Index fell 0.799% to about 1701.15 points, and the Hang Seng Index in Hong Kong lost 0.72%, and the “Kospi” index in South Korea ended the trading day, dropping by 1.09% At 1686.24 points.
The Australian Standard & Poor’s 200 Index added 2.3% to close at 5113.30 points.





LEAVE A REPLY

Please enter your comment!
Please enter your name here