|20 May, 2020

Wednesday Outlook: Equity rally runs out of puff

Oil prices ease, gold steady, firm dollar offsets recession support

A trader passes by a screen displaying the tickers symbols for Bristol-Myers Squibb and Intelsat, Ltd. on the floor at the New York Stock Exchange, April 25, 2013. World equity markets advanced on Thursday as solid corporate earnings and data indicating the U.S. labor market remains resilient despite signs of slower growth buoyed optimism about the economy, an outlook that sent bond prices lower. REUTERS/Brendan McDermid

A trader passes by a screen displaying the tickers symbols for Bristol-Myers Squibb and Intelsat, Ltd. on the floor at the New York Stock Exchange, April 25, 2013. World equity markets advanced on Thursday as solid corporate earnings and data indicating the U.S. labor market remains resilient despite signs of slower growth buoyed optimism about the economy, an outlook that sent bond prices lower. REUTERS/Brendan McDermid

Brendan McDermid

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Stocks adrift as vaccine rally falters
AUD backs off multi-week high, gold and bonds up

Euro maintains firm tone on EU joint recovery fund, yen soft
Yen soft though doubts on vaccine stem its slide

Oil prices ease on dim economic outlook despite signs of firmer demand
Fed sees double-digit U.S. jobless levels at year-end

Gold steady, firm dollar offsets recession support
Spot gold was unchanged at $1,743.99 per ounce by 0030 GMT


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