Market Overview
US Fiscal Response to Coronavirus Just Gave Brief Lift to Sentiments
Investor sentiments were given only and mild and brief boost by the massive fiscal stimulus of the US. Asian markets quickly reversed initial gains and pessimism over coronavirus pandemic wild likely continue in European markets too. As for currencies, Canadian dollar is currently the weakest one for today, as...
Dollar Surges as Focus Turns from Stock to Currency Markets
Focus somewhat turns from stock markets to currencies today. Major global indices are staying in rather tight range today, based on recent volatility. Fiscal and monetary measures from major central banks and governments are providing little support to sentiments, as coronavirus pandemic continues to worsen. Dollar jumps broadly today,...
Asia Steady after Another Worst Day Since Black Monday
Markets are generally steady so far today. The panic selloff overnight in the US wasn't carried through to Asia. DOW had another worst day since Black Monday, getting practically no support from Fed's all-in easing. In the currency markets, major pairs and crosses are staying inside yesterday's range for...
Monetary Policy is No Cure to Coronavirus Crash as Selloff in Europe Extends
Fed's all-in easing, together with RBNZ and BoJ stimulus, provide no apparent support to market sentiment. Number of coronavirus cases continued to skyrocket, breaking 170,000 level today. More importantly, deaths totals hit 6,680. Selloff intensifies in European session with FTSE, DAX and CAC breaking through Friday's spike low. US...
Stocks in Panic after Fed, RBNZ and BoJ Emergency Actions, No End to Risk Aversion Yet
It's a bit unsure whether emergency policy actions by major central banks are calming the markets, or inducing fears. Fed, RBNZ and BoJ surprise the markets by unscheduled announcements today, with measures to counter the impact of coronavirus pandemic. Fed cut interest rate by -1.00% to 0-0.25%, with restart...
Markets Could Stabilize after Bearish Mood Exhausted in Wild Week
Global markets experienced another wild week, with free falls in risk assets and oil prices. Coronavirus pandemic occupied all headlines, ranging from business news, politics, sports and show business. Massive disruption in economic activity is happening.
Major central banks and governments came to rescue and launched coordinated measures to support...
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...