ZuluTrade Blog

Market Recap

Market View | Wednesday, February 26, 2020 10:20 AM GMT

All major equity markets had a really bad day. We are 100 points away from the 200 day moving average of S&P500. Let's see if markets will test that level and if there will be a rebound.

A bazooka fiscal spending package has just been announced in Hong Kong. Every permanent resident above 18 will be handed 10K HKD (=$1.3K). Companies will be entitled to low interest loans 100% guaranteed by the government. Rebates in salary and property tax is additionally included.

Delegates from UK, France, Germany, Russian and China are meting today in Vienna to make an attempt to save the Iranian nuclear deal.

The first quarter on quarter drop of global oil demand in a decade, is set to be recorded. Meanwhile, OPEC countries and Russia, have not yet revealed  their intentions over the agreed production cap that expires in March.

At the last night’s Democrats debate, candidates rounded on the leftish Bernie Sanders. Bernie Sanders, a man with 8 years as a Mayror under his belt, 16 years as a Member of the House, and 13 years as a Senator, has paradoxically managed to present himself as the anti-systemic choise. Note that things will become clearer in a week, following Super Tuesday.

Macro releases:  Today’s economic calendar includes a health check of the US housing market, the US crude oil inventories and the Trade balance of New Zealand.

CopyTrade at ZuluTrade


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