Program trading halted for 5minutes – circuit breaker ForexLive
Coronavirus – Japan PM Abe says all arrivals from the US to quarantine for 14 days
Abe has not yet enacted this, will seek Cabinet approval today. All arrivals from the US, including Japanese citizens to be quarantined. Appears to be a self-quarantine measure.
ECB's De Guindos says the EU should consider Eurobonds for coronavirus.
Luis de Guindos is Vice-President of the European Central Bank. Meanwhile, EUR/USD is losing ground, as are other currencies against the dollar ForexLive
Fed's Kashkari says the US will have (an at least mild) recession
Kashkari being interviewed on US 60 Minutes show … that headline seems a pretty obvious statement Interview is a taped one (from Thursday). – Says Fed will ensure banks have enough cash to meet demands
BOJ steps in with 800bn yen of repo operations offered
JGBs – BOJ offering an injection of liquidity ForexLive
PBOC sets USD/ CNY reference rate for today at 7.0940 (vs. yesterday at 7.1052)
People's Bank of China ForexLive
ECB's Visco: ECB will do whatever it takes to ensure good functioning of financial markets
Comments by ECB governing council member, Ignazio Visco – Greater coordination among European countries will allow everyone to come out of the virus crisis all together and with lower costs ForexLive
Fed Bullard: Unemployment rate might jump to 30% in Q2 due to coronavirus shutdown
<p>St Louis Fed President James Bullard warned that US unemployment could surge to 30% in Q2 because of coronavirus shutdown. The number, if realized, would be three times more than the peak in 2007-2009 recession. GDP could contract an unprecedented -50%, with a hit of around USD 2.5T. But he also noted that this is […]
RBNZ Announced QE to Tame Tightening Market Conditions
<p>RBNZ announced QE on Monday, following an aggressive emergency rate cut, by -75 bps, to 0.25% last week. The surprising move aims at soothing the credit conditions which have tightened significantly over the past weeks. Besides QE, the central bank last week introduced a Term Auction Facility, FX swap and a NZ$30B US dollar swap […]
Risk Aversion Continues, RBNZ Cut, NZ & AU Lockdown, US to See Surge in Unemployment
<p>Markets are back in risk averse mode as another week starts, after Spain and Italy suffered the worst days of coronavirus pandemic over the weekend. US Senate failed to advance another aid package on differences between Republican and Democrats. But resolution would be seen soon based on the severity of the outbreak in the US, […]