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According to the latest report published by the World Trade Organization (WTO), global trade and output is likely to seen a partial upturn in the third quarter of 2020.

Additional points

“World merchandise trade likely registered a historic fall in Q2 2020.”

“Additional indicators point to partial uptick in world trade, output in Q3 2020.”

“But L-shaped trajectory – rather than V-shaped – cannot be ruled out.”

Market reaction

The above findings seem to have little to no impact on the market sentiment, as investors trade with caution ahead of the FOMC minutes.

S&P 500 futures hover near record highs of 3,397 while the US dollar remains depressed near multi-month lows of 92.13.