Forex news for North American trade on March 27, 2020: Markets: – Gold down $9 to $1622 – WTI crude down $1.01 to $21.60 – US 10-year yields down 16 bps to […]

Another big move in the last hour of trading The major indices are closing lower on the day after the late day rally fizzled out. Starting the last hour of trading, the major indices were […]

Fed reigns in the bond buying The Fed’s ‘buy everything’ strategy is getting reigned in a bit starting April 2. The central bank says it will cut buying back to $60B per […]

Forex futures positioning data for the week ending March 24, 2020 Highlights:Below is the EUR speculative position. The position has shifted from -114K during the week of February 25th straight up to […]

The last hour has been a roller coaster ride of late.  Nevertheless, the volatility in the last hour of stock trading has been… well historic of late.  So buckle up.  The values […]

Fed reviewing ways they can help From the WSJ: Federal Reserve officials are reviewing new ways to support financing for state and local governments, many of which are on the front lines […]

A close back above the 200 day MA at 1.1080 would be the first since March 16 For the month of March, the EURUSD peaked on March 9th at 1.14918. It spent […]

Instacart plans nationwide strike Many workers are off work right now but many are also worried about being forced to work in conditions they don’t think are safe. Continue Reading:… Search Web: […]

ECB asks banks to delay dividends The European Central Bank is recommending that banks don’t pay any dividends to shareholders until at least October 1, 2020. Continue Reading:… Search Web: ECB recommends […]

Comments from finance minister Morneau Earlier this week Morneau said help for the oil and gas industry is coming in the form of government-guaranteed credit. He said the details are being worked […]

It took a 50 BP cut by the BOC to win the weakest battle (for now at least) The USD was mixed at the start of the NY session with gains vs […]

House passes the bill, as expected It will now head to Washington for Trump’s signature. They did a voice vote in the end. ForexLive Continue Reading:… Search Web: US House passes $2 […]

CDC numbers aren’t up to date The CDC reports that US coronavirus cases are up to 85,356 compared to 68,440 a day ago. That’s a 24% rise. However the numbers don’t appear […]

Weekly oil drilling count Here’s why the Saudis aren’t going to back down: They’re getting what they want now, producers worldwide are slowly shutting in production. They don’t want to do it […]

German DAX -3.9%. France’s CAC -4.5%. UK’s FTSE 100 -5.5% The major European indices are ending the week and the day on the downside; The provisional closes are showing Continue Reading:… Search Web: […]

Spike in the dealt toll today It’s the deadliest day of the outbreak in Italy so far with nearly 1000 people killed by this terrible virus. Total cases rose 5959 vs 6153 […]

Snap back rally continues This was a complete washout due to a funding strain, probably at UK banks. Now we’re unwinding the move at an equal pace. Continue Reading:… Search Web: Cable […]

Canadian daily case numbers That percentage in the daily rise is troubling. It could be because of different testing standards, particularly in Quebec, but either way the case count is mounting. Continue […]

The low at 1.09507 held support The EURUSD started the NY session on a downward trajectory. They had the upper hand. However, the targets at the broken 38.2% and swing low at […]

Fed announcement Announcement is a tri-party announcement from: Full text: The federal bank regulatory agencies today announced two actions to support the U.S. economy and allow banking organizations to continue lending to […]

GBPUSD run higher continues The GBPUSD moved above the 50% retracement and is running toward the topside trend line at 1.23953. The high just reached 1.2386. Continue Reading:… Search Web: GBPUSD looks toward a topside […]

The latest numbers from New York state delivered by Governor Cuomo: Yesterday’s highlights: Here is a chart of New York City emergency room visits for respiratory distress. The red line is the […]

USDCHF trades at the lowest level since March 18 The USDCHF is the next currency to extend to a new extreme against the US dollar (to the downside) following moves by the GBPUSD and USDJPY.  […]

Trump isn’t happy with General Motors It sounds like Trump is talking about invoking the Defense Production Act, which will allow the President to order companies to make essential equipment. Continue Reading:… […]

Comments from the Prime Minister ForexLive Continue Reading:… Search Web: Trudeau: Canada to offer businesses $40,000 interest-free loans for a year

50% of the March trading range busted The GBPUSD is trading below the 50% retracement of the move down from the March 9 high (the March trading range). That level comes in at 1.2304. […]

The curve is flattening but it’s a long process Italy has a severe lockdown in Lombardy that started on March 7 so this is Day 20. Obviously the acceleration has stopped but […]

The 200 day is now resistance The USDJPY has cracked below the 200 day MA at 108.29. It also fell back below the 38.2% of the March move higher at 108.407.  Those […]

Comments from the Vice President on CNBC Here is some on the movement of Americans from a beach in Florida. ForexLive Continue Reading:… Search Web: Pence: Will be offering guidance to different […]

UK cases continue to rise Death toll at 759 vs 578 prior. The UK has tested about as many people as New York state but found far few cases. However they have […]

The 100 hour MA comes in at 2526.95. It is Friday. It is month/quarter end. There is expectation that there may be quarter end rebalancing to the buy side.  However, let me repeat, […]

University of Michigan consumer sentiment for March 2020: ForexLive Continue Reading:… Search Web: US U Mich March final consumer sentiment 89.1 vs 90.0 expected

Trades to new session lows in the New York session On the downside, there is support near the 0.5973 to 0.59845 area. That is home to swing levels going back to March 19, March […]

Bank of Canada opening statement after cutting rates Q&A: Full text of the opening statement: ForexLive Continue Reading:… Search Web: Poloz: Policy rate is now at the effective lower bound

It’s Friday. It’s the end of the quarter. Coronavirus fears dominate A snapshot of the major indices near the open are showing: in other markets: in the US debt market yields are […]

100 day MA above and 200 day MA below The USDJPY is trading lower in sympathy with lower stocks, lower rates today (at least that is the reaction today). Yesterday, stocks were […]

Poloz and Wilkins to appear The BOC will publish the opening statement at the bottom of the hour. The press conference will be via teleconference. Here is a live stream: Continue Reading:… […]

The 1.4150-63 is being tested after emergency rate cut The Bank of Canada had a another emergency rate cut of 50 basis points that has taken their target rate to 0.25%. Continue Reading:… Search Web: […]

Bank of Canada cuts rates by the 50 basis points to 0.25% The full statement from the Bank of Canada: The Bank of Canada today lowered its target for the overnight rate by 50 […]

BOC cuts to 0.25% from 0.75% Breaking ForexLive Continue Reading:… Search Web: Bank of Canada cuts rates to 0.25%

Secretary Hancock tests positive Earlier in the outbreak, Health Minister Nadine Dorries also tested positive but she returned to parliament two days ago. She wrote this on the news of Boris getting […]

Bostic on BloombergTV There wasn’t anything notable in the interview. ForexLive Continue Reading:… Search Web: Fed’s Bostic: Economy may rebound robustly but forecasting tough

Highlights of the comprehensive report ForexLive Continue Reading:… Search Web: Canada January non-farm payrolls +64.9K

100/200 day MA and 50% retracement area found sellers The EURUSD moved higher in early trading and in the process found sellers near the 200 day MA at 1.10798. The high did […]

Highlights of the February PCE report ForexLive Continue Reading:… Search Web: US February personal spending +0.2% vs +0.2% expected

Comments from Slack – Will continue to work via videoconference – Aiming for 10,000 tests per day by Sunday – UK talking to EU on ventilators, may do bulk purchase The ventilators […]

Comments from the Dallas Fed President Kaplan The bailout package directs funds at "small-and-medium sized" businesses with up to 500 employees… per site. Continue Reading:… Search Web: Fed’s Kaplan: Small and medium-sized […]

The USD is mixed As the markets digest the recent news that UK PM Johnson has tested positive for the coronavirus, the JPY is the strongest and the NZD is the weakest […]

Forex news from the European morning session – 27 March 2020 Headlines: Markets: – JPY leads, NZD lags on the day – European equities lower; E-minis down 2.6% Continue Reading:… Search Web: […]

Reuters reports, citing Treasury sources on the matter Sunak holds an important role right now as he needs to facilitate fiscal efforts to help the UK economy deal with the virus fallout, […]

An interesting reaction ForexLive The pound actually fell on the back of the headline, with cable dropping from 1.2290 to 1.2185 in under 15 minutes as traders scramble on what to make […]

Boris Johnson confirms that he has tested positive for the coronavirus According to a tweet by UK prime minister himself: "Over the last 24 hours I have developed mild symptoms and tested […]

Total number of confirmed cases rise from 56,188 to 64,059 cases That is a jump of 7,871 new cases or a 14% increase. The good news is that the percentage increase in […]

Trump will meet with the White House coronavirus task force this weekend meeting According to US vice president, Mike Pence, the task force will "share a a range of recommendations and additional […]

This is being reported by a few local media outlets now ForexLive Continue Reading:… Search Web: Australian department store Myer to shut shop for four weeks, standing down about 10,000 staff

US futures are down by over 2% ForexLive And a similar mood is shared across the main European indices as well with the DAX down by 2.3%, CAC 40 down by 2.5%, […]

The Hong Kong Economic Times reports on the matter – Government will close entertainment facilities i.e. gyms, cinemas, playground – Government will ask restaurants to reduce customer numbers by half The report […]

USD/JPY is doing battle in between the key daily moving averages ForexLive The dollar is keeping mild gains against most major currencies still but it holding weaker against the yen in the […]

Latest data released by Istat – 27 March 2020 – Prior 111.4; revised to 110.9 – Manufacturing confidence 89.5 vs 88.0 expected – Prior 100.6; revised to 98.8 ForexLive Continue Reading:… Search […]

That brings the total to 518 confirmed cases in the city There is growing fear in Asia that Tokyo and Hong Kong are going to be the new hotspots for the virus […]

Abe will be holding a press conference to talk about the government budget For now, the government has been active to talk about the fiscal response with finance minister Aso saying that […]

A softer mood for stocks to start the European morning – Eurostoxx -2.1% – Germany DAX -1.8% – France CAC 40 -2.1% – UK FTSE -2.5% – Spain IBEX -2.2% ForexLive Continue […]

GBP/USD falls back towards the 1.2200 handle ForexLive The pound had an impressive showing in trading yesterday, as cable rose from 1.1800 to 1.2200 as the dollar continued to falter across the […]

Latest data released by INSEE – 27 March 2020 – 104 ForexLive Consumer confidence somehow stays quite resilient but just take note that the survey was conducted between 26 February to 17 […]

The dollar turns things around to start the session ForexLive The greenback advances across the board as the dollar index pares losses on the day, with EUR/USD easing back towards the 1.1000 […]

Gold is up by over 8% on the week ForexLive If you’re wondering what is the main cause for the turnaround in gold this week, you don’t have to look any further […]

Answering the unanswerable, Ok, no-one knows when the equity market will bottom, but it is worth doing a quick comparison to the 2008-2009 financial crisis to look for clues. One place to […]

Tokyo governor, Yuriko Koike, delivers a press conference But the increase today will bring the total number of confirmed cases to about 300 in Tokyo as the government mulls over whether or […]

Mildly softer tones in early trades – German DAX futures -0.6% – French CAC 40 futures -0.8% – UK FTSE futures -1.2% ForexLive This largely mirrors the mood seen in US futures, […]

Il Sole reports on the matter The news outlet cites parliamentary documents on the matter, and this would be on top of the €25 billion package that is now being discussed in […]

The greenback is staying weaker as we begin the session ForexLive But it has recouped some of its earlier losses, with EUR/USD easing from a high of 1.1087 to 1.1040 currently. Meanwhile, […]

Another solid day for the Nikkei to wrap up the week Elsewhere, the Hang Seng is up by 0.9% on the day with the Shanghai Composite up by 1.0% currently. US futures […]

Daily thread to exchange ideas and to share your thoughts Rebalancing flows are also creating a bit of a muddy picture in trading this week, but in the currencies space the dollar continues to […]

China state media cites remarks by Xi in his conversation with Trump earlier – China has been open and transparent about virus epidemic – China-US cooperation is the only correct choice ForexLive […]

Another 16% increase in the number of confirmed cases yesterday ForexLive Continue Reading:… Search Web: RKI reports 42,288 coronavirus cases in Germany, up by 5,780 cases from yesterday

Trump tweets about his call with Xi "Just finished a very good conversation with President Xi of China. Discussed in great detail the CoronaVirus that is ravaging large parts of our Planet. […]

But no details being offered just yet ForexLive Continue Reading:… Search Web: Chinese state media confirms Xi-Trump phone call

EUR/USD push higher now runs into a test of its key daily moving averages ForexLive The dollar continues to stay on the back foot today as the flows from dollar funding pressures […]

India’s central bank finally pulls the trigger This is the first rate cut by the central bank this year, following their previous decision to cut rates back in October last year – […]

USD/JPY has fallen to test its 200-day moving average today ForexLive Japanese brokerage firm, Gaitame.com, points out two key reasons for the drop in the pair over the past two days: Continue […]

French and Italian consumer confidence data the only releases of note Central banks and governments can take heart that their recent actions have helped to inject some calm into the market, with […]

Forex news for Asia trading Friday 27 March 2020  It was a session where the USD lost ground, notably against the yen with USD/JPY losing 100+ points on the session. Other currencies […]

Also – the Prime Minister says authorities will quarantine all arrivals to Australia  in hotels – For 2 weeks – The defence force will assist in quarantine enforcement Continue Reading:… Search Web: […]

I posted earlier on BoA on EUR/USD  Check that post out for the bank’s reasoning on why the expect further US dollar strength. Below are BoA projections for other currencies: Continue Reading:… […]

I’ve noted a couple of times during the session on the losses for USD/JPY  And that is still happening, setting a new session low now as I up0date. However, the losses for […]

I posted earlier on a bank citing 3 reasons for US/yen to fall to 105 Apart from what has been posted throughout the session so far there is nothing else. AUD and […]

New Zealand Finance Minister Grant Robertson says modifications to the plan are being made The NZ COVID-19 Wage Subsidy currently (there is more to it than this, but in a nutshell): Continue Reading:… […]