We expect a mixed start to the Asian session, oil goes below $ 50, fight against the coronavirus continues

We expect a mixed start to the Asian session after a modest rebound in US indices. Efforts to combat the coronavirus continue. Resources remain under severe pressure, with oil already down nearly 3% and the US dollar remaining strong.

The futures in Tokyo and Sydney point to a flat opening and those in Hong Kong to rise slightly. Investors are left nailing after statements from the Chinese government that they can soften their 2020 forecast.

In addition to being focused on the virus, traders are also expecting the first results of US Democrats’ political meetings – the so-called. Caucuses.

Copper remains weak for 14 consecutive days. Oil remains below $ 50 after China said consumption could fall by 20%.

Nikkei225 futures are down 0.2%. The FTSE China A50 is up 0.80%. The ASX200 registered a slight change, Hang Seng was up 0.5%.

Source: Bloomberg Finance L.P.

 Trader Martin Nikolov

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