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 gains on position-squaring into month-end could provide better levels to sell – TD
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 extends gains above 61.8% retracement of the March decline
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 […]
European shares end with strong gains on the day
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 […]
US 2-year notes sold at 0.398% vs 0.390% WI bid
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
Abe: G7 to issue statement shortly on steps to cope with virus
Abe says statement coming soon I think the market is way beyond wanting words right now so I can't see it being market moving. ForexLive
G7: "We will do whatever is necessary" to restore confidence
G7 statement Here is the full text: Consistent with the direction from G7 Leaders, we are taking action and enhancing coordination on our dynamic domestic and international policy efforts to respond to the global health, economic, and financial impacts associated with the spread of the coronavirus disease 2019 (COVID-19). Collectively, G7 nations h
Pelosi: There is real optimism we could get something done in the next few hours
Pelosi on CNBC More to come ForexLive
US March prelim Markit services PMI 39.1 vs 42.0 expected
March prelim Markit manufacturing and services PMIs The manufacturing PMI is a surprise but the market is likely to shrug it off, similar to the German one earlier today.
US Feb new home sales 765K vs 750K expected
February new home sales numbers Regional breakdown: ForexLive