News in early session – Risk aversion!
Stock markets in the Asia-Pacific region were generally under pressure, and US stock futures fell by nearly 5%, triggering market halt again. The global pandemic of coronavirus obviously was not under control and the number of deaths kept rising. In addition, the US Congress have not yet agreed on the stimulus plan.
After a weekend, the investment market is increasingly worried that the global economy will experience a severe recession or even a depression. Most analysts now believe that the global economy will experience double-digit decline in the second quarter. This week, global investors will pay attention to whether the stimulus measures taken by governments can boost the market confidence.
In the Asian session, the dollar index gapped up in the opening, reached 102.87 day high so far. In addition, oil prices rebounded rapidly last Friday, now has given up all gains, US oil (WTI) once trading around $ 21 level.