(Bloomberg) -- Stocks in Asia retreated with U.S. equity futures and crude oil slumped after the top American infectious disease expert said deaths from the coronavirus in the world’s largest economy may reach 200,000. Treasuries nudged higer.Japan’s Topix index dropped about 3% with a majority of the gauge’s companies trading without the right to the latest dividend. Korean stocks fell, while Australian ones took back a slice of a Friday tumble. Crude dropped below $20 a barrel in New York at one point. Singapore’s dollar reversed losses after the monetary authority reduced the slope of its currency band, while affirming the current level.The Aussie was lower after the country limited public gatherings to just two people. Meantime, South Africa’s rand tumbled to the lowest on record after Moody’s Investors Service downgraded the country’s debt to junk.Quarter-end strains could add to investor nervousness on Monday and Tuesday as financial firms rein in...
Posted by OFX AUD - Australian Dollar The Australian dollar rose through 0.61 US cents through trade on Friday, buoyed by a continued run in improved risk sentiment. The Australian dollar closed the week higher against the greenback, up nearly 1.37% for the day reaching a high of 0.6199, its highest level … Continue reading "Aussie dollar breaks through 61 US cents"The post Aussie dollar breaks through 61 US cents appeared first on ....
(Bloomberg) -- Crude dropped to its lowest in 17 years as virus lockdowns cascaded through the world’s largest economies, leaving the market overwhelmed by cratering demand and an unmanageable surplus.Futures in London fell as much as 7.6% to their lowest since November 2002 while also slumping in New York to trade below $20 a barrel. Physical oil markets are struggling to store fuel, hit by a double whammy of coronavirus restrictions eroding demand while Saudi Arabia and Russia dig in their heels over a damaging war for market share.The kingdom said on Friday that it hadn’t had any contact with Moscow about output cuts or enlarging the OPEC+ alliance of producers. Russia also doubled down, with Deputy Energy Minister Pavel Sorokin saying oil at $25 a barrel is unpleasant, but not a catastrophe for Moscow.“Demand concerns are critical but well known, what really took the market down were the signals we...
SYDNEY/HONG KONG (Reuters) - Asian shares slid on Monday as fears mounted that the global coronavirus shutdown could last for months although markets regained some lost ground late in the session with Australia posting a standout jump. U.S. and European futures also turned upwards in the Asian afternoon, with E-Mini futures for the S&P 500 up 1.1%, again after earlier losses, EUROSTOXXX 50 futures rallying 2% and FTSE futures 1.5%. Australia's benchmark ASX200 saw a late surge, closing up 7% after Prime Minister Scott Morrison unveiled a $130 billion ($79.86 billion) package to help save jobs....
Asian shares slid on Monday and oil prices took another tumble as fears mounted that the global shutdown for the coronavirus could last for months, doing untold harm to economies despite central banks' best efforts. "We continue to mark down 1H20 global GDP forecasts as our assessment of both the global pandemic's reach and the damage related to necessary containment policies has increased," said JPMorgan economist Bruce Kasman. E-Mini futures for the S&P 500 skidded 1.2% right from the bell, and Japan's Nikkei 3.7%....
