Stocks roaring to the upside The biggest gainer in the Dow is Boeing which is up near 16% on the day. Trading remains very volatile.
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G20 will do whatever it takes to overcome coronavirus pandemic
G20 leaders statement on Coronavirus The G20 leaders have issued a statement saying: ForexLive
AUDUSD swings higher after test of 100 hour MA finds support
Looks toward the high from yesterday The AUDUSD reached a high at 0.60727 yesterday, and backed off. That correction moved down to test the 100 hour MA in the Asian session. Although there was a dip below the line (blue line), the price momentum could not be sustained and the price rotated higher and has […]
UK coronavirus expert makes a U-turn, sees far less impact
A closer look at the new projections I noted this story yesterday but it might deserve more attention. Neil Ferguson at Imperial College London has been at the centre of UK virus policy. Two weeks ago, his Imperial report sparked a re-think on policy at the highest levels of government from a herd-immunity approach to […]
GBPUSD moves to new week highs
Trades at highest level since March 18 The GBPUSD has moved to a new week high (and high going back to March 18). The run to the upside took out the high from yesterday at 1.19724. The high for the day has reached 1.20307. Having said, volatility remains high. The current price is around the […]
Currencies up against Buck, stocks struggle despite stimulus
Seeing broad based profit taking on dollar longs Recent efforts at the Federal Reserve have alleviated funding demand for the US Dollar and as a consequence, we are seeing broad based profit taking on Dollar longs. Jerome Powell shed more light on the Fed's commitment of unlimited QE, while over in Europe, the ECB kicked […]
Audio: Currencies up against buck, stocks struggle despite stimulus
A look at today's markets Recent efforts at the Federal Reserve have alleviated funding demand for the US Dollar and as a consequence, we are seeing broad based profit taking on Dollar longs. Jerome Powell shed more light on the Fed's commitment of unlimited QE, while over in Europe, the ECB kicked off its new […]
US Energy Debt withdraws tender to buy crude for SPR
Oil falls to the lows of the day It's a critical day for oil and it just sank to the lows of the day. WTI is down $1.00 to $23.55 after Bloomberg reported that the US Energy Dept withdrew its tender to buy oil for US strategic reserves.
US stocks open with gains as they digest the record claims without trouble
Stimulus passed and so has the claims data The US stocks are opening with gains and moving higher in the 1st few minutes of trading after digesting the record initial jobless claims and cheering the passing of the stimulus measures.
Gold climbs $10 as it begins to shine once again
The Fed and Treasury have played their cards Gold was driven lower in the early days of the crisis by a mass liquidation in assets and a rush to cash. Now that volatility is fading, it's shining again.