by Ian McArthur | Mar 18, 2020 | Daily Results, News
The madness continues. The Dow shed another 2,490 points since yesterdays high, the Dax 850 and the FTSE 390.
The GBP has plummeted to levels lower than after the Brexit vote. This following post from the MailOnline sums the situation up perfectly (in my view).
However and yet again we had perfect Doms in both directions within our instruments.
Another very high volatility day with an eye watering maximum potential of 2,135 points from specific Max Day Trading time/price level entries from the London morning session alone, with a target of just 30.
A 10% target of this figure would have yielded a minimum of 213 net points from specific Max Day Trading time/price level entries, with many additional opportunities in the US morning (UK afternoon) and US afternoon (UK evening) sessions.
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by admin | Mar 4, 2020 | News
GBP/USD STABLE AS MARKETS WAIT FOR INTEREST RATE CUT
A quarter-point cut in UK interest rates by the Bank of England on March 26 is now fully priced in to the markets, benefiting the FTSE 100 index of leading London-listed stocks but leaving GBPUSD little changed. According to the overnight index swaps market, there is now a 100% likelihood of a reduction in Bank Rate to 0.5% from the current 0.75% in the wake of the Federal Reserve’s emergency cut in the Federal Funds rate Tuesday to counter the economic impact of the coronavirus.
by admin | Feb 29, 2020 | News
The US Dollar may prosper in a risk-off environment as the coronavirus spurs haven demand amid a market-wide selloff in global equities. Not surprisingly, easing expectations from central banks – notably the Fed – have swollen but have failed to drag USD down with growth prospects. This in large part has to do with the Greenback’s unparalleled liquidity and position as the world’s reserve currency; but more on that later.
Two weeks ago, the IMF Managing Director Kristalina Georgieva sent a chilling message at the G20 summit in Riyadh about the coronavirus. She warned that it is the most pressing uncertainty in the world today, and that its impact on global growth is a “stark reminder of how a fragile recovery could be threatened by unforeseen events”.
NONFARM PAYROLL DATA MAY INFLAME FED EASING EXPECTATIONS
Nonfarm payrolls data is expected to show 195k new jobs added for February, though pessimism around the effect of the coronavirus may be reflected in softer employment statistics. This comes after the prior report registered the strongest figures since November 2019. Consequently, this reinforced the Fed’s notion that current economic circumstances do not warrant an adjustment in interest rates. COVID-19 may change that.
