5 Things You Should Know on Monday, April 6

5 Things You Should Know on Monday, April 6

While the United States has provided support for the summit-COVID-19, Spain and Italy have recorded further reductions in daily death rates. This helps the end of the crisis in Europe and the leaps in European stock markets to be higher in US futures. British Prime Minister Boris Johnson was hospitalized with the virus, but sterling did not come to mind much. And the dollar is still making a strong bid, especially against yen and selected emerging currencies. Here's what you should know in the financial markets on Monday, April 6. 1. Crude prices are in doubt about the production discount deal Crude oil prices dropped as doubts arose as to whether the world's largest producers would agree to cut production. The talks of President Donald Trump with the US oil industry bosses could not reach any consensus on cuts in US production; Therefore, a meeting of the OPEC + format, which includes both Saudi Arabia and Russia, was postponed from Monday to Thursday. Trump increased the likelihood of protecting US oil producers by increasing foreign oil import duties on Saturday. At 06:25 ET (1025 GMT), US raw prices fell 4.1% daily to $ 27.19. Brent futures fell 3.5% to $ 32.91. 2. The worst week is US brackets President Donald Trump said there was a light at the end of the COVID-19 tunnel and indicated a slowdown in the rate of new infections at virus infection points in US Infections in New York, Detroit, and New Orleans, according to various reports in the next few days. Meanwhile, US Surgeon Jerome Adams told Fox News on Sunday that next week will be "the hardest and saddest week in most Americans' lives." The U.S. currently registered more than 9,600 deaths from the coronavirus and has more than 337,000 confirmed cases. 3. Stocks were raised by Europe and opened higher US stock markets open higher and take advantage of the jump in Asian and European markets. Dow Jones 30 futures contract with 06:30 ET increased by 761 points or 3.6% in 21118, while S&P 500 futures contract increased by 3.6% and Nasdaq 100 futures contract increased by 3.9%. Weekend data from Spain and Italy, the two European countries most affected by the virus, showed a drop in the number of daily deaths and a slowdown in the rate of increase in new infections. Benchmark Stoxx 600 increased by 2.9% at noon Europe, Nikkei and Australia S & P / ASX 200 indices increased by more than 4%. Emerging market indices were more complex. 4. Rising market currencies against the dollar-yen Despite the general tone of risk in the markets, the dollar did not show broad progress on the fear of withdrawing based on developed market currencies and the fear of sharp economic contraction against emerging markets and an increase in the balance of payments crises. The dollar index, which measures the US dollar against advanced market currencies, rose less than 0.1% at 100.71% against the Australian and Canadian dollars but rose 0.7% against the yen after declaring that the Japanese government would declare a state Emergency. Japan's official figures on COVID-19 cases have risen sharply as the country abandoned the hope of staging the 2020 Olympics this summer. Although the Russian ruble has recovered, the dollar caught up with the price movements in the oil market late Friday, while the dollar also made gains against the Indian rupee, the Egyptian pound, and the Turkish lira. 5. British Prime Minister Johnson hospitalized with COVID-19 Downing Street's press office said Prime Minister Boris Johnson was hospitalized in Britain late Sunday to take action. Johnson said that he had tested positive for the virus a week ago and that his outlook in video messages deteriorated significantly last week. Sterling shrugged in development. At 06:30 ET, the pound was at $ 1.2300 on Friday, up 0.3% from Europe. FTSE 100 stock index increased by 2.2%, while domestic focus FTSE 250 increased by 4.1%.