(18 MAY 2020)DAILY MARKET BRIEF 2:Risk-on sentiment resumes

<p>The global risk recovery is set to pick up at the start of the week as Fed Chai Powell expressed optimism that the US growth story will improve in 2H. S&amp;P 500 futures (1.15%) pushing up Asian equities Nikkei (0.48), Shanghai Composite (0.47%), and Kospi (0.51%) despite news that the Japanese economy had fallen into recession as Covid crisis took its toll on business and consumer spending.</p>
<p>With the weather improving in the western world consumer are emerging from corvid lockdown, which helps push oil prices higher on hopes (wti 5.30%) that continued output cuts, and gradual recovery in fuel demand would reduce the global supply glut.</p>