Market News

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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.

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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.

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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.

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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.

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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”.

Market News | News for Forex, Commodities and Indices | ZFX

Gold is trading around $1490 in Asian session

Liquidity issue would be the one of the negative factors in gold market. Earlier, the Federal Reserve operated dollar swap with nine central banks: Australia, Brazil, Denmark, South Korea, Mexico, Norway, New Zealand, Singapore, and Sweden, with quotas of up to $ 60 billion each. For the other major central banks, including the Bank of Canada, the Bank of England, the Bank of Japan, the European Central Bank and the Swiss National Bank, the Federal Reserve announced an increase in dollar swap quotas to further inject liquidity in the market.

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QE Start! New Zealand dollar hit 0.56

RBNZ will launch a bond purchasing program of up to NZ$30 billion, buying multi-year bonds over the next 12 months and NZ$500 million this week.

Market News | News for Forex, Commodities and Indices | ZFX

News in early session – Risk aversion!

After a weekend, the investment market is increasingly worried that the global economy will experience a severe recession or even a depression. Most analysts now believe that the global economy will experience double-digit decline in the second quarter. This week, global investors will pay attention to whether the stimulus measures taken by governments can boost the market confidence.

Market News | News for Forex, Commodities and Indices | ZFX

Oil prices bounce back, but outlook is still doubtful

Oil prices have rebounded from 18 years low as countries around the world have implemented more fiscal and monetary stimulus measures to provide more support for the economic recovery and thus improving the outlook of crude oil demand. In addition, US President Trump said that the United States will intervene the price war between Saudi Arabia and Russia at an appropriate time. Those factors strongly support the oil market in this emotional condition.