The Fed is throwing everything at this The Fed balance sheet is going to be mind-blowinginly big by the end of this. The new programs announced today will add another $2.3 trillion if fully taken up and include junk bonds.
Blogs
New York hedge fund pitched clients on returns up to 175% by exploiting government lending programs
Arcadia Investment Partners cancelled pitch after media got wind of it The hedge funds will get their slice the pie. Reuters reports today about Arcadia Investment Partners pitching investors on a plan that would leverage the small-business lending program to turn a profit of 25-175%
S&P index tries to stay above the 50% retracement level as buyers push on increased hope
50% retracement from the all-time high comes in at 2792.69 for the S&P index. On a move higher, the next targets would be the February 28 low price at 2855.84 followed by the swing high price from March 11 at 2882.23. The 61.8% retracement of the move down comes in at 2934.49 and would be […]
EURUSD works toward the 50% retracement after it got its shove higher.
Pair broke above its 200 hour moving average and moved higher see post here There was a 3 step process for further upside momentum including:
USDJPY falls toward the 200 hour/200 day MA and low for the week
Moves to test the Monday low too (see post here The price has now moved down to a low of 108.349. That is just above the low from Monday is trading at 108.32, the 200 day moving average at 108.316 AND the 200 hour moving average at the same level. Needless to say that cluster of support, is a […]
NZDUSD tests the end of March swing high
Also tests the 61.8% retracement The NZDUSD is trading to a new session high and in the process is testing the March 27 at 0.60686. Just above that level is the 61.8% retracement of the move down from the March swing high. That level comes in at 0.60726. Key test for the NZDUSD traders. Traders may lean
USD/CAD nears the crisis low as oil climbs on OPEC cut hopes
Watch the chart USD/CAD is approaching some big levels. The crisis low so far is 1.3922 and we're within striking distance now as the pair sinks on broad USD weakness and oil strength. The report that OPEC+ will discuss a 20 mbpd cut is boosting crude but I would be vary wary of that headline. […]
The WTI crude oil moves to a new session highs
OPEC headlines give price a boost The price of WTI crude oil futures have moved higher after headlines that Russia and Saudi Arabia production cuts are progressing. The number thrown out is up to a 20 million barrel cut which is higher than expectations (but would take cooperation from the US as well).
AUDUSD cracks above its 50% retracement of move down this year
50% at 0.6268. Trades to a new high 0.6305 on run higher The price of the AUDUSD has seen risk on buying that has now taken the price above its 50% midipoint at 0.62681. The price has just moved up over the 0.6300 level in the current hourly bar. It was the first time the price […]
S&P 500 has now recovered 50% of its virus decline
S&P 500 breaks a technical level It turns out the way to fight coronavirus is with massive government deficits and an unfathomable central bank balance sheet.