A long weekend in the US. Markets remain closed in Monday – President’s Day. What to expect today?

The big question for investors later today will be the same as last three Friday: Will you keep your positions and risk for the weekend?

This time, however, there will be three days of uncertainty – compared to the usual Saturday and Sunday – and for Wall Street, this is an event that needs to be considered and rethought later today.

At the moment, the sentiment among traders still seems to be quite mixed with moderate growth in European stocks, while bond yields are down for the session. US futures are also showing signs of a slight rise, but we will have to see if the mood will change once US traders intervene.

Against the backdrop of the coronavirus epidemic, fears appear to have subsided outside Hubei, but there is still much doubt about the overall picture and I’m not sure if this is enough to stimulate greed to continue before the long weekend.

After Wall Street recovered yesterday, we cannot rule out a break in recent Friday trends. It will be interesting to find out during the US session.

 Head of Trading Dimitar Kalapov

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