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<p>Gold’s decline from 1765.25 extends lower today and breached 1700 handle. The fall is getting better in shape as the correction to whole rise from 1451.16 to 1765.25 as we viewed. Further fall should be seen to 38.2% retracement of 1451.16 to 1765.25 at 1645.26 before bottoming. On the upside, break of 1735.44 resistance is […

<p>European formally unveiled an unprecedented stimulus package to day, to “to protect lives and livelihoods, repair the Single Market, as well as to build a lasting and prosperous recovery” after coronavirus pandemic. Total financial power is boosted to EUR 1.85 trillion, with “New Generation EU” instrument of EUR 750

<p>ECB President Christine Lagarde said the &#8220;mild&#8221; coronavirus economic scenario is now &#8220;out of date&#8221;. She added, &#8220;we&#8217;ll have a better sense in a few days as we publish our numbers in early June, but it&#8217;s likely we will be in between the medium and severe scenarios.&#82

<p>SNB Chairman Thomas Jordan reiterated that negative rates and forex interventions are “particularly important at the moment”, since the Swiss Franc is in demand as “safe haven”. He emphasized the need to “ensure monetary conditions remain accommodative in Switzerland.” Also, SNB is “willing to inte

<p>Euro surges after EU Commissioner for Economy Paolo Gentiloni indicated in a tweet today that they proposing a EUR 750B recovery fund, to add to the instruments already launched. It’s separately reported that the money would be split into EUR 500B grants and EUR 250B loans. The EUR 500B grants is in line with the […]

<p>Chinese Yuan weakens further against the Dollar today and tensions heighten over the situations in Hong Kong. The new national security law on Hong Kong is expected to be passed on May 28, by passing the city’s own legislature, by the rubber-stamp Congress of China. It’s widely seen as a move that violates the “one [&hell

<p>Markets are expecting ECB to expand its Pandemic Emergency Purchase Program next week. ECB Executive Board member Isabel Schnabel said, “one number . . . of particular interest is the evolution of the medium-term inflation outlook. If we see that the situation has deteriorated, and if we judge that further stimulus is needed then the

<p>RBNZ Governor Adrian Orr said that the “significant capital and liquidity buffers” built up in the banking system before the coronavirus pandemic “buffers can now be used to support their customers’ long-term economic future”. Stress tests suggest that banks “banks can continue to lend and prosper throug

<p>Outgoing BoC Governor Stephen Poloz said that to bring inflation back to target, “it is necessary to stabilize the economy and then return economic output and employment to their potential”. He also told the Senate’s finance committee, “If further monetary stimulus is required to meet our inflation targets, the bank

<p>Euro surges broadly today as traders more than welcome the new EU pandemic recovery plan. Canadian Dollar is currently the second strongest while the greenback is the third. Strength in Euro appears to have prompted some selloff in Sterling as well as Australian Dollars. The Pound is somewhat weighed down by renewed concerns over Brexit [&