Market Overview - Page 397

Cryptocurrency markets plunged following a plummet in oil prices and further sell-off in stocks. The market capitalization or entire value of cryptocurrencies was down $26.43 billion from a day earlier at around 1:17 p.m. Singapore time, according to data from.

Oil prices plunged after OPEC’s failure to strike a deal with its allies regarding production cuts caused Saudi Arabia to slash its prices as it reportedly gets set to ramp up production, leading to fears of an all-out price war..

Italy’s extended quarantine measures restricting the movement of people in the northern regions have provoked panic among residents and accentuated the country’s north-south divide. On Sunday, Prime Minister Giuseppe Conte signed a decree imposing restrictions to the movement of people.

Nonfarm payrolls grew far more than expected in February as companies continued to hire leading into a growing coronavirus scare. The Labor Department reported Friday that the U.S. economy added 273,000 new jobs during the month, while the unemployment rate.

OPEC and non-OPEC allies have reportedly failed to agree on how much production to cut amid the coronavirus outbreak, with Russia refusing to give the green light to the deepest supply cuts since the global financial crisis. Oil prices slipped.

Market overview There is no shortage of strong moves on Friday, despite the proximity of the US NFP publication, in anticipation of which the markets often subside. A day earlier, the S & P500 lost 3.4%, and before the start.

After many failed attempts, bitcoin finally managed to pop above the $8,950 and $9,000 resistance levels against the US Dollar. BTC price settled nicely above the $9,000 level and the 100 hourly simple moving average. A new weekly high is.

OPEC holds crunch talks with its allies on Friday after the group told Russia and others it wanted an additional 1.5 million barrels per day (bpd) of oil cuts until the end of 2020, saying a big move was needed.

At around 4:45 a.m. ET, the yield on the benchmark 10-year Treasury note, which moves inversely to price, touched an all-time low of 0.7041%. The yield on the 30-year Treasury bond notched a record low 1.2903%. Wall Street suffered another.

In recent days, the foreign exchange market has consistently points to a high level of concerns among investors. However, the stock market has had a short break in the form of a bounce. As it often happens, currency movements act.

U.S. job growth likely slowed in February, but the pace probably remained consistent with a healthy labor market despite the coronavirus outbreak, which stoked financial market fears of a recession and prompted an emergency interest rate cut from the Federal.

The coronavirus crisis could wipe out $211 billion from economies across Asia Pacific, according to a Friday report from S&P Global Ratings. Australia, Hong Kong, Singapore, Japan, South Korea and Thailand “will enter or flirt with recession,” the ratings giant.