Some progress in the hardest-hit Italian region That's some good news from Italy, inasmuch as 300 people dying can be 'good' news. The numbers are from Bloomberg, citing a source.
GBPUSD tests 100 hour MA (and moves below)
Trades at session lows. The GBPUSD is testing the 100 hour MA not at 1.16749. The pair has 6 straight down hourly bars now (last close at 1.06968). The price – as I type – is now cracking below the 100 hour MA and looks toward the 61.8% at 1.16464.
New York coronavirus cases 30,811 vs 25,665 a day ago
Case numbers from New York Governor Andrew Cuomo: These numbers aren't bad. The number of new cases has been flattish for three days. He notes that Westchester was the initial source of the outbreak but cases there are slowing quickly after aggressive measures to slow it.
GBPJPY tests the 38.2% and trend line support
Moving averages below trend line The GBPJPY is not immune from the GBP selling today (of course). The pair has moved into the negative now. The pair closed at 130.715. The low just reached 130.842.
Tokyo governor strongly appeals for cooperation to contain the virus outbreak
Tokyo posted its biggest daily jump in coronavirus infections today Tokyo governor, Yuriko Koike, is set to make a press briefing at 1100 GMT and has already warned yesterday that they may go into a more strict lockdown if there is an explosive surge in the number of virus cases in the city.
Dollar funding pressures have eased somewhat, but they're not necessarily over
How much has the Fed swap lines helped to ease the situation? ForexLive At the last week, the EUR/USD 3-month basis swap blew up to its widest level since 2011 but since then it has calmed down considerably as seen above.
European equities start to see gains erode on the session
Not a good look for risk as European stocks give up gains ForexLive After being up by over 3% earlier, the DAX has now seen its earlier gains erode to be higher by just 0.6% on the session currently. US futures are also backing off from its earlier highs, having been up by over 2% […]
Tokyo governor to ask residents to stay indoors this weekend – report
NHK reports, ahead of Tokyo governor Yuriko Koike's press briefing later ForexLive
US weekly crude oil inventories +1623K vs +3000K expected
US crude oil inventories for the week ending March 20: API late yesterday: ForexLive
Europe mulls suspending accounting rules to aid virus-hit banks
That's an ugly headline European leaders are considering suspending IFRS 9, which makes banks take losses on doubtful loans at an earlier stage than before. The ECB already said it will be flexible in enforcing existing regulations.