Forex Marketz Daily Forex News – Fully Markets Update
European markets are poised to open Wednesday morning in the red. Traders are digesting comments, about the Covid-19 death toll, out of the United States made by President Donald Trump overnight.
European traders will also be waiting on a number of key March economic data points from the region and the United States.
In London,the FTSE index is set to open 114 points lower at 5,549. In Germany, the DAX is looking at an open of 178 points lower and in France, futures are pointing to an opening of 244 points lower on the CAC.
Shares on the FTSE MIB are looking to open 244 points lower at 16,614.
European Traders Worry about Covid-19 Comments
Traders throughout the European continent are digesting recent commentary made by U.S. President Donald Trump concerning the death toll with the Covid-19 pandemic. Trump is preparing Americans for a surge in Covid-19 cases.
The U.S. President said that his country will face a “very, very painful two weeks.” Trump also said that “this could be a hell of a bad two weeks. This is going to be a very bad two, and maybe three weeks. This is going to be three weeks like we’ve never seen before.” He made these comments at a White House press conference on Tuesday.
The White House now expects that there could be between 100,000 and 240,000 deaths in the United States with the death toll peaking over the next two weeks.
Traders turn to Regional Data and US ADP Numbers
The Eurozone will continue with their post-pandemic data for the month of March. Germany is releasing monthly retail sales. Spain and the Eurozone will also release PMI data.
Later today, during the North American trade session, private ADP-non-farm payroll change will be released in the United States. This is the lead-up to the Labor Department’s non-farm payroll (NFP).
