S&P 500 futures, US 10-year Treasury yields portray risk-on

S&P 500 Futures reverse early-day losses to +0.25%.
US 10-year Treasury yields rise to 0.78%.
Japan’s NIKKEI also begins the day on a negative side, -0.20% to 19,309.
Comments from US diplomats counter the coronavirus data.

Anil Panchal FXStreet

Market’s risk-on recently got a push from US President Donald Trump and Vice President Mike Pence as Tokyo open for trading on Thursday. As a result, worrisome coronavirus (COVID-19) figures from the US failed to shake the trading sentiment.

In his routine Coronavirus Task Force Briefings, US President Trump mentioned that we are much closer to getting our country back to where it was. Also supporting the market’s risk-tone were comments from Vice President Pence who said there are at least four clinical trials studying coronavirus treatment Hydroxychloroquine. On Wednesday, the US got the much-needed drug from India for clinical trials that are targeted to find a cure for the pandemic.

Earlier during the day, data from New York and New Jersey pushed the US to register the second-highest virus-led deaths in the world after Italy. Also on the risk-negative side could be France extending its lockdown and comments from the Dallas Fed President Robert Kaplan.

Even so, the US 10-year Treasury yields rise to 0.78% whereas S&P 500 Futures flash 0.26% gains to 2,742 by the press time. It should also be noted that Japan’s NIKKEI begins the day’s trading on the back foot around 19,300, alike the US stock futures.

Looking forward, investors will keep eyes on the coronavirus updates whereas the nearby speech from the BOJ Governor Haruhiko Kuroda and US data could offer intermediate direction.

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

EUR/USD shifts its attention to 1.1900 and above

EUR/USD has shaken off Tuesday’s dip, pushing back beyond the 1.1800 mark amid decent gains as Wednesday’s session draws to a close. The rebound is largely driven by a modest pullback in the US Dollar, as markets digest the aftermath of President Trump’s SOTU speech and continue to monitor trade-related headlines and signals from the White House.

GBP/USD challenges multi-day highs near 1.3530

GBP/USD leaves behind the previous day’s decline and regains fresh upside traction on Wednesday, surpassing the 1.3500 barrier in a context of a modest decline in the Greenback and a generalised improved mood in the risk-linked space. Meanwhile, the US tariff narrative continues to dictate the mood among market participants after Presidet Trump’s SOTU speech failed to surprise markets.

Gold remains bid and close to $5,200

Gold buyers are returning to the fold on Wednesday, targeting the $5,200 area and possibly beyond, after Tuesday’s corrective dip from monthly highs. The rebound in the precious metal comes as the US Dollar loses traction, with Trump’s SOTU speech offering little fresh direction and AI-related nerves continuing to ease.

UK financial watchdog advances stablecoin oversight as four firms pilot issuance

The Financial Conduct Authority (FCA) in the United Kingdom (UK) is advancing toward the final stablecoin regulatory framework with a pilot program involving four companies, including Monee, Financial Technologies ReStabilise, Revolut and VVTX.

Nvidia earnings to influence AI trade and broader market sentiment

For the last three years, Nvidia has been the engine of the AI boom, and now Wall Street is watching to see whether that momentum can keep going. High-growth stocks have been struggling to maintain their bullish trend in 2026.

Cosmos Hub Price Forecast: ATOM rebounds slightly, bearish outlook remains intact

Cosmos Hub (ATOM) price rebounds, trading above $2.05 at the time of writing on Wednesday, after undergoing a sharp correction since last week. Weakening on-chain and derivatives data support a bearish outlook, while technical analysis remains unfavorable.