A new high but just barely The USDJPY is sitting on the wall. The wall is defined by the 111.352 to 111.584 area.  The price did extend just above that level to 111.62, but that's it. Like Humpty Dumpty, if the price does not get back above the highs soon, I get the felling that […]

Up $0.65 or 2.78% The US crude oil futures are settling at $24.01. That is up $0.65 or 2.78%.    The high for the day was up at $25.16. The low for the day fell to $23.09. 

To reopen stores on staggered basis they also said: The president today has said that he would like the US to reopen by Easter Sunday on April 12. ForexLive

India goes on full lockdown Indian PM Modi has announced a total lockdown of the country for 21 days to stop the virus. That's another major hit to global demand.

Comments from the New York governor Watch live here: "The inescapable conclusion is that the rate of infection is going up. It is spiking. The apex is higher than we thought and the apex is sooner than we thought. That is a bad combination of facts." It's sobering listening to him. He announced the total […]

USD/JPY is testing 111.50 again TD Research flags a scope for selling USD/JPY on further rallies in the near-term. ". There's probably some merit that the extraordinary actions taken by the Fed and its peers have helped to mitigate some brush fires in the global financial plumbing. That's a critical first step to crisis resolutio

Gold up more than 4% Gold is at the best levels of the day, up $67 to $1620. A big concern in the market is the mismatch between spot and futures prices. Spot is trading $60 below futures prices, in part due to shutdowns and gold mines and refineries. Shipping gold may also have gotten […]

Hope that all stimulus and virus precautions will pay off down the road The European shares are ending the session with strong gains on the day. Global stocks are being pushed higher on hopes that all the central bank and government stimulus, combined with the virus precautions will pay off down the road. Time will […]

Bit of a tail The market wasn't as hungry for short-term debt as anticipated. Better ramp up Fed buying above $125B per week. ForexLive

Delta cut to junk by S&P The issue with the Fed's corporate bond buying program is that the central bank can only buy investment grade debt. It was already brutal for a company to be cut to junk but spreads have now blown out to 1000 bps and that was before the Fed announced it […]