Listen to the latest market mood for the coming session:

European equity futures are deep in the red this morning and US S&P500 futures hit ‘limit down’ pretty much straight out of Sunday’s open. The Australian S&P200 is down over -5.00%, and the Hang Seng is down -4.84% due to coronavirus fears. With reports out of the US suggesting that US unemployment could hit as high as 30%, expect a wild day in the markets today.

The best approach to take now is to wait and monitor the risk tone. Keep an eye on the latest coronavirus updates to measure risk. The mood at the moment is for the risk-off flows to continue.

  • Risk-off flows= JPY, CHF buying, and AUD, NZD, CAD, Equity selling
  • Risk-on flows= AUD, NZD, CAD, Equity buying, and JPY, CHF selling
  • Expect sellers on AUDCHF from pullbacks as long as this risk-off tone remains

HYCM Lab is a financial analysis source that provides regular insights on how global news affects the markets including forex, commodities, stocks, indices, and cryptocurrencies*. Run by the HYCM team, it equips traders with everything needed to make informed trading decisions.