The latest UK data The high hit rate in the UK continues to point to a massive outbreak beyond the numbers that have been reported. See here for global coronavirus case data
Blogs
FDA cautions against using hydrochloroquine for COVID-19, says it's not proven effective
US Food and Drug Administration issues warning This isn't the final say and there appears to be some kind of war within the US administration about the guidance here. I think it's safe to say that it's not a miracle drug but it might be useful in the right circumstances. In the next few weeks […]
U Mich April final consumer sentiment 71.8 vs 68.0 expected
U Mich consumer sentiment data for April 2020: If you're like me, your sentiment about this entire fiasco changes 5 times per day. See here for global coronavirus case data
US stocks set to climb 1% with futures near the highs
Look for some decent gains The stock market has shaken off the disappointment of the Gilead news yesterday and is pointed higher. Futures are 19 points above fair value after a 1 point decline yesterday.
US March prelim durable goods orders -14.4% vs -12.0% expected
March durable goods orders from the US Census Bureau Details: Transportation was a major drag here but the internal numbers were much stronger than feared. These will be revised in the factor orders report but if they hold up, it means that Q1 GDP won't be as weak as feared. Ultimately that probably just means […]
CFTC commitments of traders: Positions remain steady in the current week
Forex futures positioning data for the week ending April 21, 2020. – EUR long 87K vs 87K long last week. Unchanged – GBP short 1K vs 3K long last week. Longs trimmed by 4K
The AUD is the strongest and the GBP is the weakest for the week
The USD is stronger with declines vs AUD and a modest decline vs the JPY For the trading week, the AUD is the strongest of the major currencies, while the GBP is the weakest.
S&P index moves back toward the session high
Session high at 2818.14 The S&P index is moving back toward the session high reached in the 1st hour of trading at 2818.14 (see 5 minutes chart below). The high just reached 2816.55.
AUDUSD marginally higher on the week. Bulls/buyers in control.
151 pip trading range for the week Technically, the pair is trading above the sideways moving 100 and 200 hour MAs at 0.63317 and 0.63409 respectively (current price is at 0.6373). Trading above those MAs is more positive/bullish. Also helping the bulls is
Nasdaq trades above and below unchanged today
Spends most of the week between key MAs The Nasdaq index has been trading above and below unchanged on the day. The current price as I type is at 8507.11, up 13 points or 0.12%. The high reached 8539.27. The low extended to 8464.42.