markets

Coronavirus crash boosts EUR, JPY as USD only beats minors, more carnage awaited

The stock market sell-off has worsened as major US indices fell over 4% on Thursday and over 10% from the highs. Other markets are followed as a bear market and global recession risks are rising. The disease has spread to sub-Saharan Africa with the first case in Nigeria, the US has ramped up testing, Japan …

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Markets, dollar slump after Trump’s coronavirus response, crypto retreat, US data eyed

President Donald Trump has addressed the nation on the coronavirus outbreak, saying the US is prepared, that is just the flu, and tapping Vice President Mike Pence to coordinate the response. He also criticized the Federal Reserve’s policy. Stocks and majors: Trump added that stocks should recover, yet S&P futures are pointing to falls on …

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The Bank of Canada rises target rate to 1.75%, drops graduality from the outlook

The Bank of Canada decided to hike the overnight interest rate to 1.75% saying higher rates will be needed to achieve the inflation target while dropped the previous language about gradual rate hikes. The Canadian Dollar rose 100 pips to C$1.3000 in a knee-jerk reaction to the move with the Bank of Canada sounding very …

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Jerome Powell speech: Fed does not consider political factors in deciding policy

Jerome Powell, Chair of the Board of Governors of the Federal Reserve System, is now responding to questions from the press, with key quotes (via Reuters) found below. Fed does not consider political factors in deciding policy. Hard to be confident that rates need to be above neutral level in 2020, 2021. Forecasts on inflation …

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EUR/USD analysis: waiting mode ahead of trade war fresh clues, employment data

The EUR/USD pair is little changed by the end of Thursday in the 1.1620 price zone, although it managed to peak at 1.1658 a new high for the week. The advance took place in Asian hours as a better market mood dented demand for the greenback. The pair made a second attempt to advance and …

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EUR/USD jumps to 3-week highs on Powell’s speech The EUR/USD pair rose sharply from 1.1590 to 1.1639, hitting the highest level since August 2. The move took place amid a sharp decline of the US dollar following Jerome Powell’s speech at Jackson Hole. The greenback tumbled across the board on a not hawkish speech from …

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