Market Overview
Stocks Rebound on Profit Taking, Dollar Firm But Yen Retreats
US stock markets are staging a notable rebound at open, following Europe. There are no special developments, except that coronavirus is hitting politicians and sports, as well as all major events. Total number of global cases hit 139,016, and it's unsure if it will break 140,000 level even before...
Dollar & Yen Rule on Global Routs, Markets to Stabilize Before Weekend
Yen, Dollar, and Swiss Franc are set to close as the strongest ones for the week. Global stock market crash continues with US stocks suffering the worst decline since Black Monday overnight. Asian markets gap lower and are staying in deep red. For now, Australian Dollar is the worst...
ECB Coronavirus Response Yawned, Stock Market Crash Continues
Global stock market crash continues today as total coronavirus cases are set to break 130k level very soon. Sentiments were rocked by US unilateral ban of European travellers, which also prompted EU condemnation. US stock futures hit limit down and stocks are set to follow other markets to open...
Yen Jumps after US Bans European Travellers, ECB Stimulus Awaited
Yen surges in Asian session as sentiments are knocked down hardly by US ban of European travellers. Global coronavirus cases jumped to 126,367 with 4633 deaths. Situation in Europe continue to worse, particular dire in Italy, cases in US also rose above 1,300. Nevertheless, new numbers in China, the...
UK Delivers Coordinated Coronavirus Relief, with Fiscal Package and BoE Cut, Sterling Unmoved
UK is at the center of focus today as BoE announced an emergency rate cut, followed by massive coronavirus relief package from the government. Yet the Pound is relatively unmoved. Stock markets also show no optimism as the outbreak continues to worsen. After initial gains, all major European indices...
Coronavirus Theme Continues, Aussie Lower on Consumer Sentiments and Uncertainties
Asian markets soften generally, having no follow through actions the strong but limited rebound in the US overnight. On the one hand, investors are disappointed by the lack of concrete announcement from US on coronavirus relief. On the other hand, the coronavirus outbreak continues to accelerate globally. Number of...
Stocks in Recovery as Markets Await Trump’s Coronavirus Package, Dollar Firmer
Global stocks are staging a recovery today after yesterday's crash. In the currency markets, Canadian and Dollar are currently the strongest ones for today. Yen and Sterling are the weakest. Governments are preparing or announcing special coronavirus relief packages. EU leaders will also have a video conference today to...
Markets Stabilized after Mass Selloff as Global Governments Prepare Coronavirus Support Measures
Financial markets in Asian somewhat stabilized despite the massive crash in the US overnight. Investors are awaiting the next development in global coronavirus pandemic. Governments are all preparing fiscal support to their respective economies. US will announce "very dramatic" actions on Tuesday, which include payroll tax cut and "very...
Global Selloff Intensifies as US Stock Market Circuit Breaker Triggered
Risk aversion continues to be the main theme in the markets today, on the back of global coronavirus pandemic and plunge in oil price. US trading is halted for 15 minutes after DOW tanks more than -1800 pts at open while S&P 500 drops -7%.. The selloff triggered a...
Asia Went Wild on Coronavirus Fears and Oil Price War
Asian markets went wild today, on the back of acceleration in coronavirus spread in Europe, as well as free falling oil on price war. Sentiments have never been hit that had for quite some time. Commodity currencies, as led by Australian Dollar, are the biggest casualties in the massive...
Dollar Tumbles as Markets Expect More From Fed Even after Panic Rate Cut
Global Wuhan coronavirus pandemic overshadowed all developments last week. Total confirmed cases broke 100k level (103,813 at the time of writing), with 3,522 deaths. Situation in China eased with daily new cases continued to drop. But there is no sign of slowing in South Korea (7,041 cases, 48 deaths)...
Dollar Ignores Strong Non-Farm Payrolls, Soldoff on Aggressive Fed Cut Pricing
Both US and Canadian Dollar continue to be the weakest one for today despite stronger than expected job data. In particular, markets are aggressively pricing in another deep rate cut by Fed on March 18, as Wuhan coronavirus pandemic worsens. At certain point today, fed fund futures were pricing...
Dollar Pressing Key Support as Fed Expected to Cut Again This Month
Dollar and Canadian remain the worst performing major currencies for the week and stay pressured. Both Fed and BoC s are perceived as having more room for rate cuts, comparing to, say, ECB and BoJ. Indeed, as the Wuhan coronavirus continues to spread to the world quickly, markets are...
Stock Market Roller Coaster Ride Continues With Another Red Day, Dollar Capped by Fed Cut Bets
Commodity currencies are back under pressure today, led by Aussie, as Europe equities are back in red. DOW futures point to a deep gap down. Wuhan coronavirus pandemic continues to spread all over the world and it's accelerating. Yen and Swiss Franc are the strongest today, followed by a...
Stocks Rebound on IMF Coronavirus Aid Package, Consolidation Continues
Global stock markets rebounded again as consolidations continue in a wide range. This week's central bank rate cuts, plus IMF's USD 50B aid package, could have stabilized market sentiments for now. But the global spread of Wuhan coronavirus is still there, accelerating. It remains to be seen if cases...
Stock Markets Rebound as Consolidations Continue, Euro Weakens ahead of Resistance
Stock markets rebound strongly in European session, on speculations that ECB could follow Fed to announce new monetary stimulus soon. There are also talks that markets are boosted by former US Vice President Joe Biden's Tuesday night victories in the Democratic primary for for US presidential candidate. But we're...
Investors Unmoved by Fed’s Emergency Rate Cut, Wuhan Coronavirus Continues to Spread
The financial markets are generally steady today. Fed's emergency -50bps rate cut provided no apparent boost to investor confidence. Instead, US stocks ended sharply lower again as traders are worried about worsening global outbreak of Wuhan coronavirus. Asian markets are mixed too. Major forex pairs and crosses are bounded...
Markets Steady While G7 Pledges Policy Response to Coronavirus Outbreak
The financial markets generally stabilized today even though global coronavirus outbreak shows no signs of slowing down. Total global cases reach 92725, with 5186 in South Korea, 2336 in Iran, 2036 in Italy, 283 in Japan, 191 in France, 188 in Germany, 152 in Spain, 110 in Singapore and...
Aussie Steady after RBA Rate Cut, World Prepares for Coronavirus Measures
US stocks staged a massive rebound overnight, with DOW closed up over 5%. But reactions in other markets are muted. Strength in Asian markets is very limited even though major indices are in black. Gold is gyrating in tight range around 1600 handle. WTI crude oil struggles to gain...
Euro Rally Accelerates, But Surging Coronavirus Cases in Europe Poses Downside Risks
Euro's rally accelerates today, in particular against Dollar and took out an important near term fibonacci resistance. There are various explanations on Euro's strength. Considering the strength in Swiss Franc, as well as the coronavirus outbreak in Iran, the rally could be seen a manifestation of safe haven flow.
Meanwhile,...