Gold led stocks in 2008/2009 Yesterday I mentioned and that made me think about something else around gold's behaviour in the last major financial crisis. One interesting aspect of gold's behaviour in 2008/2009 is that it lead the US stock recovery in 2008/09. Take a look at the chart below: 

Comments by German economy minister, Peter Altmaier – We have committed to pay debt back from 2023 – Growth phase will only be possible once the coronavirus spread slows Germany to a €750 billion stimulus package yesterday, with the government turning away from its frugal policy-making to counter the virus fallout.

Wall Street Journal reports, citing industry and federal officials:  – Major U.S. airlines are drafting plans for a potential voluntary shutdown of virtually all passenger flights across the U.S.  

New Zealand finance minister  Also: NZD has been strongly bid the whole session – hopes of a deal in the US Congress on the corv coronavirus economic relief measures is boosting nearly everything at the expense of the USD today. NZD adding a little more now 

Price moves above the high from Friday The EURGBP is one of the biggest movers of the day. At current levels it is up 1.54% or 142 pips.    In the process, the price has moved above the 100 hour MA at 0.92294 and then based at the MA and moved higher.   The move also […]

Gold up 4% today Gold is up $60 today to $1558 in the second day of gains after making a stand at $1450 last week. Importantly, volatility has fallen for three days in a row. The Fed has also pledged to

Topside trend line also keeps a lid on the pair The NZDUSD has moved up and down today. Overall it is up marginally on the day.  The rise today took the pair to a high of 0.57367.  The current price is trading at 0.5700.  The consolidation today has allowed the 100 hour MA to start […]

Reuters reports, citing multiple sources on the matter I would say don't hold your breath for anything significant to come from this. The G20 virtual meeting between finance ministers and central bankers yesterday was a prime example of that, showing the world how to make a non-statement within a statement:

Latest data released by the Japanese Machine Tool Builders' Association here The reading measures the change in total value of new orders placed with Japanese machine tool manufacturers.

Asian equities rise after Fed launches unlimited QE overnight ForexLive The Hang Seng is up by 3.8% while the Shanghai Composite is up by 1.1% on the day, as US futures are keeping over 3% gains for the time being after a bit of a subdued reaction to the events from overnight trading.