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Forex news for NY trading on May 26, 2020 The USD is ending the session as the weakest of the major currencies as flows moved to "risk on". The NZD, AUD and CAD all moved higher on those flows with the NZD moving +1.61%, the AUD moving +1.59% and CAD by +1.36%.  The JPY had […]

The exchange says social distancing measures will be in place, and also  – face coverings, – increased daily cleaning of the exchange – entry point medical screenings

S&P 500 fades late Stocks were relatively stable in the +1.7%-2.2% for much of the day but headlines about Trump mulling sanctions on Chinese officials and firms along with restricting student visas weighed on sentiment late in the day and US stocks finished at the intraday lows.

2100 GMT Reserve Bank of New Zealand Financial Stability Report (FSR) this is a twice-yearly report the report is usually a source of updates and review of (macroprudential) policy settings and financial regulation but this time around with the bank opening the taps in response to the coronavirus crisis it'll be more about reassuring markets [

Risk trades fade The S&P 500 has fallen below 3000 and the 200-day moving average with about 15 minutes left in today's trade. That's not a great sign. There is also a big divergence between momentum and value today. All the big recent winners like Shopify are down big while dogs like airlines and cruise […]

Also looking at student visas The US has hinted at sanctions against Chinese officials since last week because of the Hong Kong security law, which could pass as soon as Thursday. Going after officials is a minor economic event at most. There's also talk of some firm-level sanctions but I wouldn't expect those to be […]

White House statement: The Hang Sang was up 1.9% today and that tells you all you need to know about that. See here for global coronavirus case data

The latest US data The US will almost surely hit 100,000 deaths this week. That will spark some headlines but I can't see why it would affect the market. As for cases, this is a slightly different data set but the trend is clearly lower, albeit slowly.

Trade idea from TD Securities The weekly FX pick from TD Securities is to buy CHF/JPY at spt with a target of 113.25 and a stop at 109.75. "This week brings the month-end, which should shape the action. Our month-end rebalancing model is bullish CHF and bearish AUD, JPY and EUR," they note. "Given the […]