FTSE futures gained 3.08% and EuroStoxx 50 futures rose 0.61%, pointing to a steady open in Europe, while US stock futures were steady after trading either side of flat through the Asian day. Oil rose on hopes that the world’s biggest producers will agree to cut output as the virus pandemic crushes demand, while the risk-sensitive Australian dollar rose 1%. Hope stems though from hardest-hit Italy and Spain, where authorities have started looking ahead to easing lockdowns after steady falls in coronavirus-related fatality rates. “It’s long way short of a serious rally,” said Sean Callow, an FX analyst at Westpac in Sydney. “There is still so much bad news to absorb from the economy.”The New Zealand dollar rose 1.6% to $0.5988, while the safe-haven yen lost 0.17% to 108.80 per US dollar.

Source: The Express Tribune April 07, 2020 06:45 UTC