Archive for March 23rd, 2020

Central Bank Watch

Shock and Awe from the Federal Reserve Meets a Skeptical Market

March 23, 2020

A series of statements released today at 12:00 GMT and prior to the North American start of trading represent an extraordinary array of quantitative monetary stimulus (QE) that is likely to surpass the size employed during the Great Recession. The intent is forestall an evaporation of financial market liquidity, to ensure that companies otherwise sound […] More

Foreign Exchange Insights and Next Week

A Very Robust Dollar with Continuing Upside Potential

March 23, 2020

The dollar has thrived during the global coronavirus pandemic. In the past two weeks the U.S. currency has advanced between 5% and 10% against the euro, yen, Swiss franc, Canadian dollar, Swedish krona, Turkish lira, Brazilian real, South Korean won and South African rand. It has climbed between 10% and 15% relative to the British […] More

New Overnight Developments Abroad - Daily Update

Historically Steep Equity Rout Enters Fifth Week in a Fresh Air Pocket

March 23, 2020

Stock markets in the Pacific Rim tumbled 13.2% in India, 7.4% in Singapore, 6.4% in New Zealand, 5.6% in Australia, 5.3% in South Korea, 4.9% in Hong Kong and Indonesia, 3.7% in Taiwan, and 3.1% in China. Japan’s Nikkei, which had not traded last Friday, rose 2.0%. However, in Euriope, markets are down 2.5-3.0% in […] More