การเตือนความเสี่ยง: CFD เป็นตราสารที่มีความซับซ้อนและมีความเสี่ยงสูงในการที่จะสูญเสียเงินอย่างรวดเร็วจากเลเวอเรจ 81% ของบัญชีนักลงทุนรายย่อยเสียเงินเมื่อซื้อขาย CFD กับผู้ให้บริการรายนี้ คุณควรพิจารณาว่าคุณเข้าใจถึงระบบการทำงานของ CFD และพร้อมรับความเสี่ยงในการสูญเสียเงินที่สูงแล้วหรือไม่
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จันทร์, เมษายน 6, 2020

The Italian government has outlined a strategic plan to gradually exit the confinement measures initiated to control the coronavirus pandemic, accordi

The Italian government has outlined a strategic plan to gradually exit the confinement measures initiated to control the coronavirus pandemic, according to French newspaper Le Monde.  The objective is to normalize the situation "as soon as possible", health minister Roberto Speranza said on Sunday in an interview with the daily newspapers Il Corriere della Sera and La Repubblica but refrained from giving a date.  That said, the emergency is not over a year and the nation still faces a few difficult months ahead, added Speranza. 

West Texas Intermediate (WTI) oil is trading in the red on Monday, as a lingering dispute between top exporters Saudi Arabia and Russia is keeping the

WTI drops as Saudi Arabia and Russia delay emergency meeting.Reversal higher cannot be ruled out as financial markets are reporting a risk reset. West Texas Intermediate (WTI) oil is trading in the red on Monday, as a lingering dispute between top exporters Saudi Arabia and Russia is keeping the bulls at bay.  The decline could be associated with the decision by Saudi Arabia and Russia to delay the planned emergency meeting to discuss output cuts to Thursday from Monday. The Kingdom would host the meeting via video conference and the decision to delay was taken to allow more time to bring more producers on board, according to Reuters.  Even so, oil is operating on slippery grounds. Investors are likely worried that an agreement would remain elusive due to the lack of participation from the US, the world’s largest oil producer.  President Trump informed markets last week about potential output cut delay between OPEC and Russia, sending oil prices sharply higher. The US benchmark jumped over 30 percent last week to register its biggest weekly gain on record.  However, on Saturday, Trump described OPEC as a cartel and threatened to levy tariffs on foreign oil, boosting doubts over the prospects for an agreement.  That said, losses could be reversed during the day ahead, as the equity markets are showing signs of risk reset with the number of coronavirus cases in the US, Italy and Spain slowing down over the weekend.  At press time, the US benchmark is trading near $26.80 per barrel, representing a 5.3% drop on the day. Prices hit a low of $25.85 early Monday.  Meanwhile, a barrel of Brent oil is changing hands near $33.25 –  down 4.7% on the day. WTI Technical LevelsResistance: $29.11 (session high), $35 (4H 200-MA)Support: $24.70 (4H 100-MA), $24.37 (10-day average).

The Spanish government is working to roll out a universal basic income as soon as possible, as part of a number of measures aimed at containing the ec

The Spanish government is working to roll out a universal basic income as soon as possible, as part of a number of measures aimed at containing the economic fallout from the coronavirus pandemic. The project, which will focus on assisting families, is being coordinated by Social Security Minister Jose Luis Escriva, economy minister Nadia Calvino said during an interview Sunday night with Spanish broadcaster La Sexta. Spain is dealing with the second-worst coronavirus outbreak in Europe, and the pandemic has pushed the government to order a state of emergency, according to Bloomberg. 

Gold's recovery rally from the March low of $1,451 looks exhausted, according to last week's inside bar hanging man candle. An inside bar occurs when

Gold's weekly chart is flashing signs of bull fatigue. A move above the preceding week's high is needed to revive the bullish view. Gold's recovery rally from the March low of $1,451 looks exhausted, according to last week's inside bar hanging man candle.  An inside bar occurs when prices trading within the preceding period's high and low and is indicative of bull fatigue when it appears after a notable price rise, which is the case here. The hanging man candle, which comprises a small red body and a long lower wick, also indicates buyer exhaustion.  As a result, a pullback to $1,600 or lower could be seen this week. At press time, the yellow metal is sidelined around $1,619 per ounce.  On the higher side, a move above the previous week's high of $1,638 is needed to revive the bullish setup and open the doors to a re-test of $1,700. Weekly chartTrend: Neutral Technical levels  

The highly anticipated Japanese economic stimulus package to cushion the blow from the coronavirus pandemic is likely to be unveiled in two phases, Bl

The highly anticipated Japanese economic stimulus package to cushion the blow from the coronavirus pandemic is likely to be unveiled in two phases, Bloomberg reports on Monday, citing sources with knowledge of the matter. Further details The rescue package to include: Increased subsidy rates for firms to help limit losses of jobs. Household with income are to receive 300,000 yen in cash. Household with children receive 10,000 yen per child.  Government to secure avigan supply for 2 million people in fiscal 2020 year. 

AUD/USD is now trading largely unchanged on the day around 0.6020, having bounced up from 0.5990 to 0.6049 an hour ago, possibly tracking the signs of

AUD/USD faces rejection near 0.6049 despite risk reset in the Asian markets. The S&P 580 futures are also reporting gains at press time. Recession fears are likely keeping the gains in the Aussie dollar under check. AUD/USD is now trading largely unchanged on the day around 0.6020, having bounced up from 0.5990 to 0.6049 an hour ago, possibly tracking the signs of risk reset in the equity markets.  The S&P 500 futures are currently reporting a 2.6% gain, and major Asian indices like Japan'sNikkei, South Korea's Kospi and stocks in Australia are flashing green. Copper, one of Australia's top exports, too, is up 1% as of writing. The Aussie dollar typically responds positively to an uptick in equities and industrial commodities. That positive correlation seems to be playing out in Monday'sAsian session. The buoyant risk-on sentiment is seemingly being fostered by reports of a slowdown in the number of coronavirus cases in some of the worst-hit countries like the US, Italy, and Spain.  However, the slowdown could be a blip, as noted by New York's Mayor and that maybe capping gains in the Aussie dollar. Also, recession fears have been bolstered by Friday's jobs data, which showed the American economy lost 701,000 in March, ending 113 straight months of job growth. The Australian currency could end up falling back to session lows, if the stocks surrender gains, tracking the decline in the oil benchmarks. At press time, both brent oil and the West Texas Intermediate (WTI) crude are reporting at least 6% losses. The black gold has come under pressure on a decision by Russia and Saudi Arabia to push out their meeting to Thursday from Monday.  Technical levels  

Japan state of emergency to take effect on April 8 – Kyodo more to come ...

Japan state of emergency to take effect on April 8 – Kyodo   more to come ...

According to a German newspaper Frankfurter Allgemeine Zeitung (FAZ), Spanish Prime Minister (PM) Pedro Sanchez said Europe needs debt mutualization a

According to a German newspaper Frankfurter Allgemeine Zeitung (FAZ), Spanish Prime Minister (PM) Pedro Sanchez said Europe needs debt mutualization and a common “Marshall Plan” to recover from the coronavirus pandemic, cited by Reuters. Separately, the European Union’s (EU) Internal Market Commissioner, Thierry Breton, and European Economics Commissioner Paolo Gentiloni told FAZ that Europe needed to create a European taxpayer fund that could then issue long-term bonds to pay for a recovery from the pandemic. EUR/USD implications   The shared currency’s recovery momentum would gather traction should a common “Marshall Plan” is deployed to fight the virus impact. At the press time, EUR/USD trades better bid at 1.0815 as the greenback eased-off multi-day tops reached vs. its main peers.

The Korea Centers for Disease Control and Prevention said on Monday, South Korea confirmed 47 new coronavirus cases, with the total count now at 10,28

The Korea Centers for Disease Control and Prevention said on Monday, South Korea confirmed 47 new coronavirus cases, with the total count now at 10,284. The new confirmed cases saw the lowest daily count since its peak on February, 29th. The South reported three new deaths, bringing up the death toll to 186. The body said that it released 135 more fully recovered patients, with the number of total cured patients now at 6,598.   more to come ...

JP Morgan analysts are of the opinion that a slowdown in the growth rate of the number of coronavirus cases in the US may put a floor under stocks and

JP Morgan analysts are of the opinion that a slowdown in the growth rate of the number of coronavirus cases in the US may put a floor under stocks and dampen volatility, according to Bloomberg.  The Cboe Volatility Index has been tracking data associated with the global spread of cases and has shown a relationship with the virus outbreak in the US, technical strategists Jason Hunter and Alix Tepper Floman wrote in a note Friday. Key quotes The number of states with growth rates above 20% dropped to under 10 from over 40 in the past two weeks, a trend which could keep the pressure on the VIX and moderate any equity declines. The S&P 500, Wall Street's equity index, fell by more than 12% last month and hit a 2.5-year low of 2191.9 as the coronavirus uncertainty triggered a global dash for cash, which saw investors sell everything from risk assets to safe havens like gold and treasuries. 
 

As a part of its routine operation, the Bank of Japan (BOJ) offers to buy JPY350bln worth of 5 - 10 year of Japanese Government Bonds (JGB). The centr

As a part of its routine operation, the Bank of Japan (BOJ) offers to buy JPY350bln worth of 5 - 10 year of Japanese Government Bonds (JGB). The central bank kept the amount unchanged despite raising the frequency. USD/JPY testing 109 and with vigor as US stock future rise 3% S&P 500 futures rise even as Oil drops

USD/CAD is currently trading in the red near 1.42, having found offers near 1.4260 an hour ago. The pair is trading in a contracting triangle, popular

USD/CAD's 4-hour chart shows the pair is trapped in a symmetrical triangle. The outlook would turn bullish if the triangle is breached to the higher side.USD/CAD is currently trading in the red near 1.42, having found offers near 1.4260 an hour ago.  The pair is trading in a contracting triangle, popularly known as the symmetrical triangle, as seen on the 4-hour chart.  A break above the top end of the triangle at 1.4260, would confirm a breakout and open the doors to 1.4349 (triangle high) and 1.4382 (61.8% Fibonacci retracement of 1.4667/1.3921).  A triangle breakout would also confirm an upside break from the falling channel that has been in place since March 18.  Alternatively, a symmetrical triangle breakdown would imply a continuation of the decline from 1.4667 and may yield a sell-off toward 1.3921 (March 27 low).  4-hour chartTrend: Neutral Technical levels  

In an extra poll conducted by GfK in late March, British consumer confidence dropped to the weakest since February 2009, as the economic shutdown to f

In an extra poll conducted by GfK in late March, British consumer confidence dropped to the weakest since February 2009, as the economic shutdown to fight the coronavirus spread dampened households’ financial hopes. Key findings “The drop in the index to -34 from -9 in its regular survey for March, conducted earlier in the month, was the biggest in more than 45 years. GfK client strategy director Joe Staton said: “Our COVID-19 ‘flash report’ shows a dramatic result with consumer confidence falling off the cliff in the last two weeks of March.”           The biggest decline in the GfK survey came in households’ willingness to make major purchases, despite a spike in demand for freezers, televisions and home office equipment as people prepared to spend most of their time at home.” GBP/USD off the lows, not out of the woods yet The US dollar pull back from multi-day highs across its main competitors prompted the bounce in GBP/USD from 1.2210 low but the pound is not out of the woods yet, as the UK PM Boris Johnson remains hospitalized due to coronavirus. GBP/USD: A bearish start to the week as UK PM hospitalized amid coronavirus

Australia TD Securities Inflation (YoY) down to 1.5% in March from previous 1.6%

Australia TD Securities Inflation (MoM) rose from previous -0.1% to 0.2% in March

New Zealand ANZ Commodity Price came in at -2.1%, above forecasts (-2.5%) in March

The US stock futures advanced on Monday alongside gains in the Asian equity markets as the coronavirus death toll in Italy and some other worst-hit co

The S&P 500 futures rise as New York's virus-related death toll slows. Oil prices are trading in the red due to delay in Russia-Saudi Arabia meeting. The US stock futures advanced on Monday alongside gains in the Asian equity markets as the coronavirus death toll in Italy and some other worst-hit countries in the world dropped on Sunday.  At press time, futures tied to the S&P 500, Wall Street’s equity index, are reporting over 3% gains. Meanwhile, major Asian indices like Japan’s Nikkei, South Korea’s Kospi are flashing 3% and 2.5% gains, respectively. Stocks in Australia are also up more than 2% on the day.  While the number of deaths in New York climbed to 4,159 on Sunday, the number of reported fatalities were 594 compared to 630 the day before. Elsewhere, Italy’s death toll fell to lowest in two weeks on Saturday, while that in Spain grew by 674 on Sunday versus 809 on Saturday according to CNBC.  The slowdown in the death rate is encouraging, but it is too soon to ay whether the changes are indicative of a trend, as noted by New York’s governor Andrew Cuomo.  While equities are better bid, oil benchmarks are a sea of red. West Texas Intermediate (WTI) is currently down more than 5.5% and Brent oil is shedding 6% of its value, possibly due to decision by Saudi Arabia and Russia to tentatively shift the meeting to Thursday instead of Monday.  The meeting will be convened later this week to forge a truce on output and stabilize the battered oil prices.  

USD/JPY is trading at 108.99 at the time of writing, +0.55% having climbed from a low of 108.34 to a high of 108.99. The US dollar is firm in Asia tod

USD/JPY has spiked to the 109 handle as COVID-19 grips Japan.US S&P500 emini futures up around 3% and weighs on yen.USD/JPY is trading at 108.99 at the time of writing, +0.55% having climbed from a low of 108.34 to a high of 108.99. The US dollar is firm in Asia today, albeit capped around 100.85 with a risk-on market as the yen drops with Japan moving to a state of emergency. The Japnese yen has been sold-off across the board and is likely to struggle as Japan's COVID-19 cases spike. The Nikkei Asian Review reported that Japanese Prime Minister Shinzo Abe decided on Monday to declare a coronavirus emergency as new cases in the capital increase at a record pace. "The government will hold an unofficial meeting of a panel of experts and start preparing for the declaration." Risk-on and Japanese sike in COVID-19 weighs on the yen At the same time, we have seen equities extend their positive move today, with US S&P500 E-Mini futures up around 3% at the start of this week. Weekend news has shown some glimmers of hope with respect to COVID-19 and today's US Task Force presser provided some reassurance to US citizens that the optimists on the panel believe that there is a light at the end of the tunnel and that the peak is near. Headlines from the presser can be seen here: Trump: Hopes we're seeing levelling off of coronavirus in the hottest spots. A focus on oil  Chart of the week: WTI bulls back in charge, taking on a 61.8% retracementMeanwhile, there is a keen focus oil which surged on Friday, as US President Donald Trump’s tweeting of a 10mbpd cut was likely and “maybe substantially more”, along with the confirmation that an OPEC+ meeting would take place this week boosted sentiment. WTI closed up $6.8/ 32% although as given some of that back in the open today, -$2.20 at the time of writing.  USD/JPY levels        

The United Arab Emirates (UAE) Energy Minister Suhail al-Mazrouei said in a statement on Sunday, that they back the case for an emergency meeting of O

The United Arab Emirates (UAE) Energy Minister Suhail al-Mazrouei said in a statement on Sunday, that they back the case for an emergency meeting of OPEC+ and other producers, as proposed by Saudi Arabia. Key quotes “A joint and combined effort by all oil-producing countries is required, not only the group of OPEC+ countries.” “The UAE is confident that, if an agreement can be reached, all producing countries will work quickly and cooperatively to address the weak demand for oil in global markets, helping to rebalance the market and maintain global oil inventories at reasonable levels.” Oil on the road to recovery With the risk-on sentiment picking up pace, oil prices are extending a recovery from the early slump. The above comments also ease the pain in the black gold. WTI now trades at 26.75, down 5.70%, although up from the daily low of 25.41.

China Reports 39 Additional Coronavirus Cases April 5 - Finds 78 New Asymptomatic Coronavirus Cases - 38 Of 39 New Virus Cases Are Imported More to co

China Reports 39 Additional Coronavirus Cases April 5 -          Finds 78 New Asymptomatic Coronavirus Cases -          38 Of 39 New Virus Cases Are Imported   More to come

EUR/USD closed in the red for the fifth straight day on Friday, extending the sell-off from the March 27 high of 1.1148. More importantly, the bears e

EUR/USD closed under key Fibonacci support on Friday. The pair risks falling to recent lows near 1.0630 in the short-term. A descending trendline hurdle is a level to beat for the bulls. EUR/USD closed in the red for the fifth straight day on Friday, extending the sell-off from the March 27 high of 1.1148.  More importantly, the bears established a strong foothold under 1.0831, which is the 61.8% Fibonacci retracement of the rally from 1.0636 to 1.1148, with a weekly close under the key support.  At press time, the pair is trading largely unchanged on the day near 1.0805, having faced rejection at 1.0822 a few hours ago.  The path of least resistance is to the downside. A violation at Friday's low of 1.0773 would bolster the bearish setup and expose the March low of 1.0636.  The bearish bias would be invalidated if the trendline falling from recent highs is breached. As of writing, that trendline resistance is located near 1.09.  Daily chart 4-hour chartTrend: Bearish Technical levels  

Having faced rejection around 0.5880 once again, NZD/USD is losing nearly 30-pips and tests the 0.5850 support area, as the US dollar continues to rul

NZD/USD ignores upbeat RBNZ official’s remarks. Dollar strength and oil-price weakness weigh on the Kiwi.  Coronavirus updated led risk sentiment to dominate. Having faced rejection around 0.5880 once again, NZD/USD is losing nearly 30-pips and tests the 0.5850 support area, as the US dollar continues to rule across the board. At the time of writing, the Kiwi trades 0.22% lower at 0.5856 while the US dollar index prints a fresh eight-day high of 100.85, up 0.27% on a daily basis.   The greenback continues to draw haven bids, as markets prefer tp hold the US currency in times of the coronavirus pandemic induced global economic uncertainty and disruptions. The virus spread is unabated, as most major governments have announced lockdowns to contain the infections. Adding to the downward momentum, the latest slump in oil prices, amid growing uncertainty over the global supply and OPEC+ meeting pushed back, weighs negatively on resource-linked NZD.   Meanwhile, the major ignored the upbeat comments from the Reserve Bank of New Zealand (RBNZ) Governor Adrian Orr and Chief Economist Yuong Ha, as the sentiment continues to remain driven by the dollar dynamics, in the face of the virus crisis. NZD/USD technical levels to watch  

Fitch says that Australia and New Zealand public finances are weakend amid coronavirus. More to come...

Fitch says that Australia and New Zealand public finances are weakend amid coronavirus. More to come...

The Reserve Bank of New Zealand's Chief Economist explained that not preparing banks for negative OCR at the moment. Banks would need to be ready if O

The Reserve Bank of New Zealand's Chief Economist explained that not preparing banks for negative OCR at the moment.  Banks would need to be ready if OCR were taken lower. Expanding QE is a decision for the MPC.   More to come...

US Pres. Trump: If oil price stays the way it is he would do very substantial tariffs more to come ...

US Pres. Trump: If oil price stays the way it is he would do very substantial tariffs  more to come ...

The price of gold in the open on Monday is relatively quiet with the price trading between $1,609.11 and $1,621.24, slightly down at the time of writ

Gold prices are consolidating the recent correction, with bulls in charge.Should fear subside, gold could struggle, although is exposed to a renewed round of panic. The price of gold in the open on Monday is relatively quiet with the price trading between $1,609.11 and $1,621.24, slightly down at the time of writing at $1,615.33.  However, bulls have been in charge of a correction from the mid-March lows and Friday's as COVID-19 continues to spread and play havoc on the global economy. COVID-19 Updates: A crucial week ahead for the debacleThroughout last week, rising unemployment in the US saw investor appetite for precious metals rise and we saw a bid in precious metals with the price of gold rallying to US1,620/oz after a far worse than expected payrolls number in the US. More on that here: US NFP Quick Analysis: A grim future partially foretold. "Signs of the recent tightness in the physical market easing tempered these gains. The average premium of gold coins to spot physical had ballooned out to USD50/oz in late March as the tightness reached its peak," analysts at TD Securities explained. "That has since fallen to a discount of USD50/oz. Nevertheless, strong flows in gold-backed ETF funds show investor appetite for physical gold remains strong." Indeed, the price is moving to territories that will have CTA's shorts getting nervous. However, should the fear subside, then gold may struggle, although the situation is highly fluid. Fear subsiding, gold to struggle?  "We're not out of the woods just yet in the coming weeks, as our sentiment readings suggest that fear has subsided. It's worth reiterating that gold is a high beta asset to pandemic sentiment into the fear stage of the narrative, as the highly deflationary impulse from containment efforts could send real rates higher," analysts at TD Securities explained, arguing that this leaves gold and other high beta assets exposed to a renewed round of panic. "It's worth noting that the narrative surrounding COVID-19 is itself highly contagious, as it encourages many repetitions for discussion, involves celebrities, and can easily be surrounded by many parallel narratives (such as the resulting economic fallout). These elements make a narrative highly contagious and can ultimately provide the lubricant for renewed rounds of fear. In this context, the left tail remains fat in precious metals." Gold levels  

Fumio Kishida, Chairman and Policy Chief of Japan’s ruling party, Liberal Democratic Party (LDP) said on Monday, the government close to finalizing th

Fumio Kishida, Chairman and Policy Chief of Japan’s ruling party, Liberal Democratic Party (LDP) said on Monday, the government close to finalizing the economic relief package. He added that Prime Minister Shinzo Abe will provide the details soon. On Friday, Kishida said that the government will provide 300,000 yen ($2,800) in cash to each household suffering from falling incomes amid the spread of coronavirus. About 10 million of Japan's 58 million households are expected to be eligible for the cash program. Meanwhile, a Japanese daily, Yomiuri Shimbun, cited that the government could announce a state of emergency by Tuesday or before. USD/JPY regains 108.50 Amid a rally in S&P 500 futures and a broadly firmer US dollar, USD/JPY picks up bids and regains 108.50 to trade around 108.65, at the moment. Investors await a fresh impetus on the Tokyo open.  

Mexico’s President Andres Manuel Lopez Obrador pledged on Sunday that his government will roll out measures to fight the economic impact of the corona

Mexico’s President Andres Manuel Lopez Obrador pledged on Sunday that his government will roll out measures to fight the economic impact of the coronavirus outbreak but he warned the stimulus plan would call for massive borrowing. Mr. President said over the weekend that he will put forward an “unorthodox” plan and would try to do “all that is possible” to prevent Mexico from piling on debt. USD/MXN reaction The Mexican Peso remains thwarted by the fresh slump in oil prices, as the economic stimulus plan fails to offer any respite to the local currency. USD/MXN, currently, trades at 25.25, up 1.18% on the day, heading towards a record high reached two-week ago at 25.44. WTI downed 10% at Asia open as OPEC+ meeting pushed backed

Having kick-started the week on the front foot, AUD/USD is trying once again to extend the bounce from a five-day low of 0.5979. At the time of writin

AUD/USD attempting recovery once again on 0.6000.US dollar bulls take a breather before the next push higher. Eyes on coronavirus updates, as the focus shifts to RBA decision. Having kick-started the week on the front foot, AUD/USD is trying once again to extend the bounce from a five-day low of 0.5979. At the time of writing, the spot trades at 0.6000, up 0.10% so far. RBA: Rate cut, QE – What next? Despite the uptick to 0.6017 highs, the commodity-currency lacks follow-through amid a sharp drop in oil prices while gold prices also traded mildly lower. Further, the safe-haven demand for the US dollar remains intact, keeping the greenback broadly underpinned. Meanwhile, US President Trump sounds somewhat upbeat on the virus situation in his country, adding further to the dollar demand. Trump said, in the Task Force briefing, he hopes to see levelling off of coronavirus in the hottest spots. The US currency shrugged-off a loss of 701,00 jobs in the US economy last month due to the virus impact. Looking ahead, the downside in the major will likely remain capped, as the Reserve Bank of Australia (RBA) is expected to stand pat on its monetary policy decision due on Tuesday after it announced an emergency rate cut and bond-buying program last month. The latest RBA minutes revealed that the board said that there is no appetite for negative interest rates. AUD/USD technical levels to watch  

Members of the Coronavirus Task Force are holding a press briefing and Trump is the first to speak, explaining the inventory of protective gear such a

Members of the Coronavirus Task Force are holding a press briefing and Trump is the first to speak, explaining the inventory of protective gear such as masks and ventilators in the way to those in need.  At the same time, Trump has contradicted his recent warnings, now saying that he hopes we're seeing levelling off of coronavirus in the hottest spots. He then said "we are heading to the peak of the epidemic". Key comments 1.67 million people have been tested, far more than other countries. More to come...

The Yomiuri Shimbun, a Japanese news outlet, reported on Monday that the government could announce a state of emergency by Tuesday or before. more to

The Yomiuri Shimbun, a Japanese news outlet, reported on Monday that the government could announce a state of emergency by Tuesday or before.   more to come ...

WTI (oil futures on NYMEX) opens the week with a bearish gap of $3 or 10%, as the bears fight back control on uncertainty over the likely meeting betw

WTI kicks-off the week sharply lower on OPEC+ meeting woes.Oil reverses 30% gains seen last week on hopes of OPEC+ output cuts.  All eyes on the US and OPEC headlines amid coronavirus updates.WTI (oil futures on NYMEX) opens the week with a bearish gap of $3 or 10%, as the bears fight back control on uncertainty over the likely meeting between the OPEC and non-OPEC producers (OPEC+). Earlier the meeting to discuss the oil output cuts was scheduled for April 6. However, the Reuters sources reported over the weekend that it is now postponed to April 9, allowing more non -OPEC producers, including the US, Norway and Canada, to come on board and join in the production cuts to stem the price declines,  the wake of the coronavirus pandemic induces demand concerns. The black gold is reversing the 30% weekly rise, diving from Friday’s close of 28.97 top open the week at 25.98. At the press time, the US oil sheds nearly 11% to trade at 25.90, having hit a low of 25.41.   Despite the early knockdown, markets expect a turnaround in the barrel of WTI, largely on the back of increased expectations that the OPEC+ oil output cuts will materialize this week, especially with Russia confirming its participation in the meeting. The alliance is likely to debate oil output cuts of 10 million barrels per day (bpd) when they gather at the emergency meeting. Additionally, US President Trump’s announcement that they will impose tariffs on Saudi and Russian production, potentially accelerating an output cutback, could offer some respite to the bulls. The black gold rallied hard last week after US President Donald Trump said that Saudi and Russia could soon reach a deal to cut the production by 10 to 15 million bpd while markets see a potential price war truce. Attention now turns towards the OPEC+-related headlines and Trump’s take on the likely tariffs for a fresh direction in the prices. Meanwhile, investors will take cues from a better market mood amid broad dollar strength, as virus fears continue to weigh. WTI technical levels to consider  

The latest headlines are crossing the wires, via Reuters, citing that the White House Coronavirus Task Force media briefing will be at 2300 GMT on Mon

The latest headlines are crossing the wires, via Reuters, citing that the White House Coronavirus Task Force media briefing will be at 2300 GMT on Monday, delayed by a couple of hours. The US dollar continues to lead the charge across the fx board, as the fears over the infectious respiratory illness persist. COVID-19 Updates: A crucial week ahead for the debacle Forex Today: Dollar the strongest as risk aversion rules

Amid reports that the UK Prime Minister (PM) Boris Johnson is admitted to hospital for some coronavirus-linked precautionary tests combined with persi

GBP/USD sold-into news that UK PM Johnson gets hospitalized. Coronavirus risks will continue to boost have flows for the USD. UK Construction PMI eyed amid a quiet macro day this Monday. Amid reports that the UK Prime Minister (PM) Boris Johnson is admitted to hospital for some coronavirus-linked precautionary tests combined with persisting broad US dollar weakness, GBP/USD started out a fresh week on a negative note in Asia this Monday. Coronavirus tightens grip over the UK The cable remains the main laggard across the fx space so far, as the bears look to test the 0.2200 level, having eroded nearly 60-pips in early trades. The main catalyst behind the sharp drop is about the increased concerns over the PM Johnson’s health condition, as he gets hospitalized after dealing with mild virus symptoms for 10 days after being tested positive. The Downing Street statement read, "On the advice of his doctor, the Prime Minister has tonight been admitted to hospital for tests. This is a precautionary step, as the Prime Minister continues to have persistent symptoms of coronavirus ten days after testing positive for the virus." The recent chatter that the PM is put on the ventilator support is likely to aggravate the pain in the pound. Further, the ongoing strength in the US dollar vs. its six major rivals, in the wake of the increased safe-haven demand, as the pandemic intensifies worldwide and heightens the fears over a global economic recession, collaborates with the downside momentum in the spot, as the British currency gives up its last week’s resilience. Meanwhile, on the data front, the greenback remained unperturbed by a 7 million drop in the US jobs for March, as the upbeat US ISM Non-Manufacturing PMI boded well for the buck. However, the UK Services PMI data for March was revised down to 34.5 points, which is likely to remain a drag on the sterling.   In the day ahead, the updates on the PM Johnson’s condition will remain a key driver for the major alongside the US dollar dynamics, as the macro calendar Is relatively quiet, with the only UK Construction PMI of note. Meanwhile, all eyes will be on the UK government COVID-19 meeting, scheduled at 0815GMT for fresh trading impetus. The meeting will be chaired by the UK Foreign Secretary Raab and include the advisers and officials. Note that the latest data published by the UK's health ministry revealed that the death toll from the coronavirus increased by 621 to 4,934. The total number of confirmed infections climbed to 47,806. GBP/USD technical levels to watch  

Reserve Bank of Nw Zealand governor, Adrian Orr, has been quoted by the website StuffNZ and has said the following comments: Adrian Orr's quotes To da

Reserve Bank of Nw Zealand governor, Adrian Orr, has been quoted by the website StuffNZ and has said the following comments: Adrian Orr's quotes To date our 'bubble' has mostly included the Government, Treasury, and New Zealand's banks, non-bank deposit takers, and insurance companies. We have proved we can work together for a common goal – cash-flow and confidence – at pace. We recognise the threat of COVID-19 to our collective well-being and have responded accordingly to ensure we address the issues at hand and reduce the impact on future generations. To maintain commitment to our future prosperity, we have ensured that the cost of borrowing is very low through reducing the OCR to 0.25 percent and undertaking 'Quantitative Easing' (QE). We've also opened up new exchange and lending facilities for our banks to use if more liquidity is needed. These facilities range from daily 'open market operations' where we ensure there is plenty of cash in the money system, through to 3 month, 1 year, and soon up to 3 year liquidity facilities. We can lend to banks when they can't easily raise funds in international markets and this supports them in lending to their customers – businesses and households. In step with Government, Treasury, and the banks we are also assisting businesses and households directly. The mortgage payment deferral and business finance guarantee schemes are a collective effort to ease households' cash demands and enable credit to flow into businesses as we all wait the Covid-19 virus out. The latter involves us buying Government Bonds (public debt) from banks and swapping it for cash – so that the banks can on-lend. This activity keeps long-term interest rates low, where we need them, as well as helping the Government to fund its own expanding activities. The Reserve Bank can keep monetary support going for as long as necessary through QE and other tools. New Zealand is in a globally-enviable fiscal position with significant headroom. Our activities will best ensure Aotearoa is able to prosper for generations to come. Banks participating in the business finance guarantee scheme have also agreed to not pay dividends to their shareholders to ensure the public money used in the finance guarantee scheme reaches its target – New Zealand businesses in need. Further assisting banks is the 'capital relief' we provided them, encouraging banks to use their rainy day funds given that it is raining. We insisted banks hold large capital buffers despite their considerable consternation. They can now use them as necessary. All of this activity is simple but not easy. We are all experiencing unnerving times and there are some very hard yards ahead. Some businesses will fail, unemployment will rise, and banks will at times have to judge whether a firm is illiquid or insolvent when making a financing decision. We will also have to make tough decisions at the Reserve Bank when it comes to a specific firm's viability. The financial system is strong but we do not run a 'zero failure' regime. Instead we have put in place strong criteria for financial firms' liquidity, capital, and operation capability so they can withstand most shocks. Looking ahead, many firms will make it through this period through working with their bankers and their own team, and understanding and utilising the Government's significant and expanding support packages. Income support, mortgage relief, business lending, tax relief, and a broad range of regular welfare assistance is available and needs to be used. Support each other, think beyond just the next six months, and visualise the role you can and will play in the vibrant, refreshed, sustainable, inclusive New Zealand economy. He para i te huarahi ki tua – To carve a path forward into the future. NZD/USD update It has been a USD story of late and the kiwi has been drifting lower as the greenback strengthens, despite terrible data which markets are stepping over in the face of COVID-19. So long as NZ contains the virus, the currency should remain relatively sturdy in the absence of another wave of outbreaks in China while the US struggles to stop the spread of the virus and as he death toll mounts up. However, key support comes in at 0.5830 and should that give way, the downside potential is looking to a test below the 0.56 handle.

The Johns Hopkins data reports US COVID-19 cases reach 1 In 1,000 infected, and it is expected that this week will b a high death toll, according to U

The Johns Hopkins data reports US COVID-19 cases reach 1 In 1,000 infected, and it is expected that this week will b a high death toll, according to US President Donald Trump. “There will be a lot of death,” Trump said at the White House, where he and other American officials depicted some parts of the United States as climbing toward the peaks of their crises, while warning that new hot spots were emerging in Pennsylvania, Colorado and Washington, DC. Over 8,000 people have died so far in the US but the White House has said its projections show that at least 100,000 people could die because of the virus. Dr. Deborah Birx has said that "the next two weeks are extraordinarily important,” and, "this is the moment to not be going to the grocery store, not going to the pharmacy, but doing everything you can to keep your family and your friends safe and that means everybody doing the six-feet distancing, washing their hands.” For more on COVID-19 updates, see here: COVID-19 Updates: A crucial week ahead for the debacle 
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