So much for the great stimulus hope European equities have also declined strongly, with the DAX down by close to 1% currently. The Stoxx 600 index was up by nearly 5% earlier and has seen all gains erased too.
European stocks see losses deepen, DAX down by over 2%
Things are starting to look a bit ugly at the moment ForexLive Not a good look for risk as the market begins to turn a bit more sour on the day. For some context, the DAX opened the day with solid gains of over 3% and has turned tail rather rapidly over the past hour-and-a-half.
US MBA mortgage applications w.e. 20 March -29.4% vs -8.4% prior
Latest data from the Mortgage Bankers Association for the week ending 20 March 2020 – Prior -8.4% – Purchase index 237.4 vs 278.1 prior – Market index 758.4 vs 1,073.6 prior That is the biggest percentage drop in the headline reading since 2009, as we see refinancing activity suffer a sharp drop but also for purchases [&h
UK March CBI retailing reported sales -3 vs -15 expected
Latest data released by CBI – 25 March 2020 – Prior 1 – Total distributive reported sales 5 vs -10 expected – Prior 7 ForexLive Just take note that the survey was conducted between 26 February and 13 March, so this hardly reflects all the current virus containment measures in the UK.
Tokyo governor Koike confirms 41 new coronavirus cases in the city
That brings the total tally to 212 confirmed cases, the most in Japan – Says the situation is severe – Says around ten patients have uncertain route of infection ForexLive
EU leaders said to endorse ESM credit line proposal
According to a draft statement seen by Bloomberg The headline also says that EU leaders have asked the proposal to be finalised by next week as the euro area is trying to come up with new funding to deal with the economic fallout from the virus outbreak.
ForexLive European FX news wrap: Congress reaches a deal; risk sours
Forex news from the European morning session – 25 March 2020 Headlines: Markets: – GBP leads, USD lags on the day – European equities mostly lower; E-minis down 1.1%
$2 trillion doesn't buy what it used to
Equity futures lower despite huge US stimulus US Senators have reached a bi-partisan deal on a $2 trillion bill that includes payments to just about everyone. Canadian parliament also agreed on an $82B package.
US February prelim durable goods orders data +1.2% vs -1.0% expected
Durable goods orders for February 2020: These numbers are ancient history now but soft core orders with a slight negative revision speak to poor capex plans even before the virus hit.
Tokyo governor to ask residents to stay indoors this weekend – report
NHK reports, ahead of Tokyo governor Yuriko Koike's press briefing later ForexLive