On Monday, the 20th of January 2020, a gauge of global stock indices had paused their recent rally, however had been hovering near their record closing high as investors were eyeing a number of key policy meetings of Central Banks, economic data alongside earnings’ reports, while both UK and US crude futures’ prices rose to their one-week peak after Libyan National Army had closed down a oil pipeline that led to a shut down of two of the Libyan oilfields.
Besides, European equity markets edged lower with regional pan-European STOXX 600 shed 0.14 per cent after reaching an all-time record closure on Friday (January 17th), while MSCI’s all country index were treading water after rising more than 2.5 per cent over the first three weeks of the new year, as an ease of Sino-US trade row following a “Phase 1” trade deal signing ceremony had spurred up investors’ sentiment.
In the Asian equity market, the MSCI’s broadest index of Asia-Pacific shares outside Japan dropped by 0.25 per cent, while Japan’s Nikkei 225 soared 0.2 per cent to close in its 15-month-peak and China’s blue-chip index added 0.7 per cent, while the offshore Chinese Yuan had hit a six-month peak.
Meanwhile, expressing an out-and-out optimism for the rest of the week amid possibilities of BoE rate cut alongside some robust earnings’ reports following an upbeat holiday quarter, an strategist at Raymond James in London, Chris Bailey said on Monday’s (January 20th) market round off, “Optimism is high, mainly, though, because we appear to have clicked back to a world of growth enthusiasm.
The upcoming earnings season is going to be fascinating ... Netflix and Intel on Tuesday and Thursday in the U.S. are going to be insightful re the tech sector, whilst UBS tomorrow, ASML on Wednesday and Ericsson Friday will be helpful on perceptions towards Europe. ”