Day Trading Stocks & Futures
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Asian shares cautiously gain on virus hopes, dollar slips
SINGAPORE/WASHINGTON (Reuters) - Asian stock markets rallied for a second day on Tuesday, and riskier currencies rose, buoyed by tentative signs the coronavirus crisis may be levelling off in New York and receding in Europe.
Gains lacked Monday’s momentum, but were broad, even though global coronavirus cases kept rising and an economic crash on a scale not seen for generations looms large.
The United States is bracing for its toughest week yet as the death toll climbs above 10,000 while across the Atlantic, British Prime Minister Boris Johnson has entered intensive care after his COVID-19 symptoms worsened.
Japan’s Nikkei rose 2% and has erased most of last week’s losses after Prime Minister Shinzo Abe promised a massive $991 billion economic stimulus package - equal to 20% of GDP.
MSCI’s broadest index of Asia-Pacific shares outside Japan pared early gains, but rose almost 1%. U.S. stock futures eased 0.2% following a 7% surge on Wall Street on Monday.
Oil steadied and the risk-sensitive Australian dollar rose 0.5%.
“The market is front running what it believes is a peak in the virus case count with Europe leading the way,” said Chris Weston, head of research at Melbourne brokerage Pepperstone.
“You can almost smell the fear of missing out from active managers.”
Worldwide there are 1.3 million cases and 70,395 deaths from COVID-19, the respiratory illness caused by the coronavirus - rising even as swathes of the globe are under lockdown.
Hope stems though from hardest-hit Italy and Spain, where authorities have started looking ahead to easing lockdowns after steady falls in coronavirus-related fatality rates.
In New York, the number of deaths each day has also steadied while hospitalisations, admissions to intensive care and the number of patients put on ventilators all declined.
Markets in Seoul, Shanghai and Hong Kong opened higher, then pared gains. Australia’s ASX 200 slipped into the red.
‘PEAK DEATH WEEK’
Moves in the currency and bond markets were more muted, weighed by worries that lifting lockdowns too soon could drive a fresh wave of infections and caution about the economic fallout.
The U.S. dollar, which has soaked up safety flows for weeks, slipped on most majors. The Australian dollar hit $0.6122, its highest in a week, but traders lacked confidence.
“It’s a long way short of a serious rally,” said Sean Callow, an FX analyst at Westpac in Sydney. “There is still so much bad news to absorb from the economy.”
The United States has reported skyrocketing unemployment as lockdowns drive layoffs and is bracing for what one official called the “peak death week”.
Roughly twice as many people a day are now dying in the United States as in Spain or Italy, and hospitals report chaotic shortages of beds, ventilators and protective gear.
https://in.reuters.com/article/us-g...ain-on-virus-hopes-dollar-slips-idINKBN21O365
SINGAPORE/WASHINGTON (Reuters) - Asian stock markets rallied for a second day on Tuesday, and riskier currencies rose, buoyed by tentative signs the coronavirus crisis may be levelling off in New York and receding in Europe.
Gains lacked Monday’s momentum, but were broad, even though global coronavirus cases kept rising and an economic crash on a scale not seen for generations looms large.
The United States is bracing for its toughest week yet as the death toll climbs above 10,000 while across the Atlantic, British Prime Minister Boris Johnson has entered intensive care after his COVID-19 symptoms worsened.
Japan’s Nikkei rose 2% and has erased most of last week’s losses after Prime Minister Shinzo Abe promised a massive $991 billion economic stimulus package - equal to 20% of GDP.
MSCI’s broadest index of Asia-Pacific shares outside Japan pared early gains, but rose almost 1%. U.S. stock futures eased 0.2% following a 7% surge on Wall Street on Monday.
Oil steadied and the risk-sensitive Australian dollar rose 0.5%.
“The market is front running what it believes is a peak in the virus case count with Europe leading the way,” said Chris Weston, head of research at Melbourne brokerage Pepperstone.
“You can almost smell the fear of missing out from active managers.”
Worldwide there are 1.3 million cases and 70,395 deaths from COVID-19, the respiratory illness caused by the coronavirus - rising even as swathes of the globe are under lockdown.
Hope stems though from hardest-hit Italy and Spain, where authorities have started looking ahead to easing lockdowns after steady falls in coronavirus-related fatality rates.
In New York, the number of deaths each day has also steadied while hospitalisations, admissions to intensive care and the number of patients put on ventilators all declined.
Markets in Seoul, Shanghai and Hong Kong opened higher, then pared gains. Australia’s ASX 200 slipped into the red.
‘PEAK DEATH WEEK’
Moves in the currency and bond markets were more muted, weighed by worries that lifting lockdowns too soon could drive a fresh wave of infections and caution about the economic fallout.
The U.S. dollar, which has soaked up safety flows for weeks, slipped on most majors. The Australian dollar hit $0.6122, its highest in a week, but traders lacked confidence.
“It’s a long way short of a serious rally,” said Sean Callow, an FX analyst at Westpac in Sydney. “There is still so much bad news to absorb from the economy.”
The United States has reported skyrocketing unemployment as lockdowns drive layoffs and is bracing for what one official called the “peak death week”.
Roughly twice as many people a day are now dying in the United States as in Spain or Italy, and hospitals report chaotic shortages of beds, ventilators and protective gear.
https://in.reuters.com/article/us-g...ain-on-virus-hopes-dollar-slips-idINKBN21O365
Ye bhi baichain aatma hai 
Donald Trump hints at retaliation if India doesn't export key Covid-19 drug
US President Donald Trump on Monday hinted at a possible retaliation if India does not lift its hold on the export of Hydroxychloroquine, the anti-malaria drug used in the treatment of coronavirus patients.
Trump speaking from the White House during the Coronavirus taskforce briefing said that India does very well with the US and he sees no reason why India would not lift the hold on the US order of the medicine.
He said, "'didn't hear that that was his (Modi) decision. I know that he stopped it for other countries I spoke to him yesterday, very very good talk, and we'll see whether or not that stays I wouldn't be surprised if he would you know because India's does very well with the United States,"
Trump said that during his recent phone call with Modi, the latter had said he will consider the request of releasing the order to the US.
The US President added, "So I wouldn't be surprised if that was a decision he'd have to tell me that I spoke to him Sunday morning I called him and I said we'd appreciate your allowing our supply to come out. If he doesn't allow it to come out,"
Trump said that India and the US have had good trade agreements and hinted at possible retaliation if India decided not to lift the hold. US President Donald Trump on Saturday had said that he has requested Prime Minister Narendra Modi to supply Hydroxychloroquine tablets that can be used to treat COVID-19 patients.
"After call today with Indian Prime Minister Narendra Modi, India is giving serious consideration to releasing the hold it put on a US order for hydroxychloroquine," Trump announced at the White House Coronavirus task force briefing.
https://www.business-standard.com/a...-export-key-covid-19-drug-120040700184_1.html
Donald Trump hints at retaliation if India doesn't export key Covid-19 drug
US President Donald Trump on Monday hinted at a possible retaliation if India does not lift its hold on the export of Hydroxychloroquine, the anti-malaria drug used in the treatment of coronavirus patients.
Trump speaking from the White House during the Coronavirus taskforce briefing said that India does very well with the US and he sees no reason why India would not lift the hold on the US order of the medicine.
He said, "'didn't hear that that was his (Modi) decision. I know that he stopped it for other countries I spoke to him yesterday, very very good talk, and we'll see whether or not that stays I wouldn't be surprised if he would you know because India's does very well with the United States,"
Trump said that during his recent phone call with Modi, the latter had said he will consider the request of releasing the order to the US.
The US President added, "So I wouldn't be surprised if that was a decision he'd have to tell me that I spoke to him Sunday morning I called him and I said we'd appreciate your allowing our supply to come out. If he doesn't allow it to come out,"
Trump said that India and the US have had good trade agreements and hinted at possible retaliation if India decided not to lift the hold. US President Donald Trump on Saturday had said that he has requested Prime Minister Narendra Modi to supply Hydroxychloroquine tablets that can be used to treat COVID-19 patients.
"After call today with Indian Prime Minister Narendra Modi, India is giving serious consideration to releasing the hold it put on a US order for hydroxychloroquine," Trump announced at the White House Coronavirus task force briefing.
https://www.business-standard.com/a...-export-key-covid-19-drug-120040700184_1.html
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