Latest data released by the Japanese Cabinet Office – 6 March 2020 – Coincident index 95.2 vs 94.7 ForexLive Slight delay in the release by the source. The preliminary release can be found . Not much change to the initial release as sentiment weakens to start the year, and this is even before the virus […]
Unlimited QE to kick off dollar weakness – Mizuho
The firm says that the weakness in the dollar may continue in the near-term "The Fed pulling out all the stops by removing the quantitative cap on QE is a start to a weaker USD and firmer currencies elsewhere. Improved risk appetite due to the Fed as well as hopes of US fiscal stimulus coming […]
G20 leaders to speak on Thurday about coronavirus – report
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:
Japan February final machine tool orders -29.6% vs -30.1% y/y prelim
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.
Nikkei 225 closes higher by 7.13% at 18,092.35
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.
Trade ideas thread – European session 24 March 2020
Daily thread to exchange ideas and to share your thoughts The central bank unveiled unprecedented measures to backstop the US economy and that is keeping risky assets in a good mood today while the greenback is softer as open-ended/unlimited QE marks down the dollar.
Equities continue to push higher on the day
US futures now up by over 4% on the day ForexLive Meanwhile, Asian stocks are also surging higher into the closing stages with the Hang Seng up by over 4.5% while the Shanghai Composite is up by just over 2% currently.
Dollar on the back foot to start the session
The greenback continues to ease as the Fed launches unlimited QE ForexLive The dollar is down to session lows as it is seeing over 1% losses across most major currencies, with EUR/USD rising to 1.0866 from just under 1.0800 earlier.
South Korean stimulus/relief measures include equity stabilisation fund
President Moon pledges 100 tln won of emergency funding for virus-stricken business sector Also: – 20 tln won bond market stabilization fund – 10.7 tln won securities market stabilization fund
Trump says Republicans should not agree to Democrat stimulus measures
Trump taking a chainsaw to Mnuchin's efforts? ForexLive