GLOBAL
Markets have been excited by the prospect of a COVID-19 treatment because it may help countries emerge from lockdowns - even though investors' hopes don't seem to take into account regulatory and distribution difficulties should a treatment be found.
Asian stocks rose to a fresh seven-week high, lifted by encouraging early results from a COVID-19 treatment trial, though bonds and currencies held cautious ranges ahead of a European Central Bank meeting later in the day.
Anthony Fauci, the top U.S. infectious disease official, said Gilead's antiviral remdesivir will become the standard of care for COVID-19 after early results from a trial seemed to show it helped speed recovery.
The yield on benchmark U.S. 10-year Treasuries (US10YT=RR) stayed parked at 0.6237%, after the U.S. Federal Reserve left interest rates near zero and gave no indication of lifting them any time soon.
FOREX
EUR/USD Price Analysis: Defies short-term rising wedge confirmation, but still below 1.0900
NZD/USD steps back from six-week high on downbeat China PMIs
GBP/JPY Awaits positive follow-through to Wednesday’s bullish hammer
USD/CNH Bounces off short-term support-line on China PMI
AUD/USD remains depressed as China PMI misses estimates
USD/JPY pulls back from six-week low, still below 107.00, amid US dollar recovery
COMMODITIES
Oil prices rise on early signs of slowing U.S. glut build
Nine companies rent 23 million barrels worth of space in U.S. emergency oil reserve: official
Gold Futures Dip for 4th Day as Covid-19 Trial Drug Overwhelms Markets
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