Friday European session market review – Correction Phase
The dollar index fell below the 99 mark on Friday in the Asian session, but rebounded back to 99.5 level in the European session, likely to be a technical adjustment after the three consecutive days of decline. As weak fundamentals in oil market, US oil (WTI) is tending to be downward and trading at $23 level. Gold price still fluctuated between $1615-$1625, falling back from the high of $1644.6. View more
The plan passed! Market sentiment has no big change
The US Senate has passed the $2 trillion stimulus plans that will be voted by the House of Representatives on Friday morning. However, the news did not provide greater momentum for the markets. The stock market in the Asia-Pacific region was in general weak. The Nikkei retraced significantly, closing down 4.5% to 18664 points. View more
ECB may pave the way for unlimited QE
Although the European Central Bank did not cut the interest rates after the emergency meeting and only launched bond purchasing plan of 750 billion euros, Bloomberg quoted that the meeting had discussed the Outright Monetary Transactions (OMT), which is much more less restrictive, meaning that ECB may pave the way for unlimited debt purchases. View more
Global pandemic update : no good news
Now, it is worrying that the cumulative number of confirmed cases in the United States exceeded 55000, with a sharp increase of more than 8500 in a single day. The current cumulative number of diagnoses in the United States is the third highest in the world after China and Italy, and is expected to continue to rise in the short term. View more
Big plan coming? Good news to the financial market
On Wednesday (March 25) in the Asian session, the latest news is that the Republican and Democratic parties will agree on the stimulus plan. The White House also confirmed that news, further boosting the market sentiment. View more
Gold supply fears? Gold price surged
On Tuesday (March 24) major changes happened in the gold market. Due to the epidemic issue, gold mines and refineries around the world have reduced their operations, severely affected the physical supply chain, causing the gold market non function. Banks and brokers were not able to get quotes effectively or fairly. View more
Asian stock market surged! Printing money works?
The Federal Reserve (Fed) announced on Monday an “unlimited” amount of quantitative easing measures and plans to support credit markets to boost the economy, which has been severely damaged by the global pandemic. The Asia-Pacific stock market is doing well today, with the Nikkei rising by more than 1200 points and the Hong Kong HSI currently rising by nearly 1,000 points. View more
Helicopter! USD index plunged
The Fed stated that it would purchase "in the amounts needed" U.S. Treasuries and mortgage-backed securities (MBS) to support smooth market functioning and effective transmission of monetary policy to broader financial conditions and the economy. This is in the form of "unlimited QE". It is also known as "helicopter money". View more
