USD/CAD falls as dollar eases a little and oil prices recover from the lows See here for global coronavirus case data The pair is back down to a low of 1.4129 and is nearing a test of the 100-hour MA (red line) @ 1.4128 – the level which held on a few occasions already this […]
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AUD/USD looks to test key near-term resistance as dollar eases slightly
AUD/USD buyers look to take another shot at the key hourly moving averages See here for global coronavirus case data AUD/USD is now trading to session highs for the day as the dollar is giving up gains as we see US futures also pare losses ahead of European trading.
FX option expiries for Thursday April 23 at the 10am NY cut
EUR/USD – 1.0750 1.1bn EURO – 1.0790 525m – 1.0800 2.5bn – 1.0810 657m – 1.0830 831m – 1.0845 1.2bn – 1.0865 680m USD/JPY
BOE's Vlieghe: We are experiencing the biggest economic contraction in a century
Comments by BOE policymaker, Gertjan Vlieghe – Economic contraction is faster, deeper than anything in the past century – Central banks using balance sheets does not detract from independence See here for global coronavirus case data
PBOC sets USD/ CNY reference rate for today at 7.0887 (vs. yesterday at 7.0903)
People's Bank of China Skips OMOs today See here for global coronavirus case data
Japan media report the BOJ will shorten its policy meeting to one day only
NHK report its shortened to Monday April 27 – the Bank of Japan monetary policy meeting was planned to run into Tuesday as well Says the shortening is to help prevent coronavirus infections!
Japan media report that the Bank of Japan is considering further easing
The BOJ meeting is next week – April 27 and 28 (policy statement on the 28th at the conclusion of the meeting … obviously) Jiji says the Bank is considering adding more easing. Nothing further at this stage.
ECB loosens collateral rules to accept non-investment grade bonds as collateral
I posted a heads up yesterday on pressure on the European Central Bank t A step in that direction from the Bank reported via the FT again: European Central Bank has changed its rules to accept "fallen angel" bonds that lose their investment grade credit rating to maintain banks' access to its ultra-cheap liquidity during [&he
Here's a video to watch on oil futures – market worked as it should on Monday
An excellent 7 minutes spent – if you are after some education watch this As background, here is a guy whining about losing: The video has CME Group Chairman and CEO Terry Duffy delivering truth and facts – its a shame that he has to, this is not mysterious stuff and anyone taking a professional approach […]
UK PMI composite dropped to 12.9, indicates quarterly GDP contraction of -7%, maybe even more
<p>UK PMI Manufacturing dropped to 32.9 in April, down from 47.8. PMI Services dropped to 12.3, down from 34.5. PMI Composite dropped to 12.9, down from 36.0. All are record lows. Chris Williamson, Chief Business Economist at IHS Markit, said: “Simple historical comparisons of the PMI with GDP indicate that the April survey reading is [