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.