Forexlive Latest News
Tue 31 Mar 2020 11:09:28 GMT
Ford postpones North American production restart
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The postponement is aimed to protect its workforce
In case you missed the earlier from two weeks back, Ford is among those who said that they will shut shop until the end of this month initially.
Italy death toll rises by 756 to 10,779 on Sunday
Tue 31 Mar 2020 10:39:51 GMT
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AUD/USD grinds lower by 1% on the day, nears test of key near-term levels
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AUD/USD falls back towards the 0.6100 level
ForexLive
The pair got a mini-flash crash earlier in the day in a fall to 0.6078 before quickly rebounding towards 0.6200 but has been steadily grinding lower in the European morning.
Tue 31 Mar 2020 10:23:26 GMT
Japan economy minister says the country is not in a situation now to declare state of emergency
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Comments by Japanese economy minister, Yasutoshi Nishimura
ForexLive
Tue 31 Mar 2020 10:16:25 GMT
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Oil: Free for all
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Oil: Free for all
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A look at what is driving the oil market right now
Historical views
The chart below shows the 25-year horizon of the . 2002-2003 is when the price was at the current level -
$20 per barrel. As such, it's breaking news. Put in the context, it's one step away
from dropping below $20 to match the severity of the 2008-2009 crisis. Will it
be there? No one can say for sure. What are the factors though?
Tue 31 Mar 2020 10:07:47 GMT
ECB's Holzmann: Decision on coronabonds is up to governments
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Comments by ECB governing council member, Robert Holzmann
- The idea behind PEPP was to make liquidity rapidly available
- The rules for PEPP will be set in the future
ForexLive
Tue 31 Mar 2020 09:58:45 GMT
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Dollar continues to keep firmer on the session
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The greenback is leading gains in the major currencies space
ForexLive
The dollar is continuing its good form to start the week as it is maintaining decent gains in the European morning session, with EUR/USD slowly creeping towards session lows now.
Tue 31 Mar 2020 09:46:16 GMT
Silver lining to market sentiment
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Silver lining to market sentiment
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Taking advantage of the opportunities in the market
We have seen massive
market movements in recent weeks stemming due to the COVID19 pandemic which
shows no signs of easing.
Tue 31 Mar 2020 09:37:42 GMT
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Spain reports 849 new coronavirus deaths in deadliest day of outbreak
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Spain reports highest daily fatalities related to the coronavirus
Adding to the less comforting news is that the number of confirmed cases has risen to 94,417 from 85,195 yesterday. That marks a ~11% increase, which breaks the slowing trend in the previous two days of ~8% yesterday and ~9% the day before.
Tue 31 Mar 2020 09:03:46 GMT
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China reports 1,541 asymptomatic coronavirus cases as of 30 March
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Well, well, well..
Just take note that previously, because the patients were not showing symptoms. However, they have tested positive for COVID-19.
China did not include these cases in their official count
Tue 31 Mar 2020 09:00:07 GMT
Eurozone March preliminary CPI +0.7% vs +0.8% y/y expected
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Latest data released by Eurostat - 31 March 2020
- +1.2%
- Prior +1.2%
ForexLive
The headline figure slumped as expected, owing to a drop in energy prices over the past few weeks. However, the core reading is also seen weakening and that isn't quite good news as inflation pressures continue to go nowhere.
Tue 31 Mar 2020 08:43:18 GMT
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China NHC says that it will start reporting the number of asymptomatic virus cases from 1 April
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China tweaks its reporting for case counts again
There has been a big debate among local opinions as to whether or not China should start reporting these numbers as the current reporting could offer a false sense of calm, creating an environment where the virus may start spreading again.
Tue 31 Mar 2020 08:36:52 GMT
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Hong Kong retail sales value plunge by most on record in the month of February
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Retail sales value dropped by 44% year-on-year last month
ForexLive
The 44% y/y plunge in retail sales value is the most on record, with retail sales volume also taking a plunge of nearly 47% y/y in the month of February.
Tue 31 Mar 2020 08:27:10 GMT
RKI chief says that optimistic about flattening the virus curve in Germany
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Comments by RKI chief, Lothar Wieler
- This optimism is still justified
- Any change in the virus trend will be clearer after Easter
- Says that actual mortality rate from the virus in Germany is ~0.8%
ForexLive
Tue 31 Mar 2020 08:18:41 GMT
BOJ raises frequency of bond purchases for April
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The BOJ raises its frequency of bond purchases for next month across four different maturities
ForexLive
The sweeping changes are across the maturities from <1-year to 10-year JGBs, with tweaks to the frequency across those tenors as well as amounts purchased for some.
Tue 31 Mar 2020 07:55:03 GMT
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Germany March unemployment change 1k vs 25k expected
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Latest data released by the Federal Employment Agency - 31 March 2020
- -10k; revised -8k
- Unemployment rate 5.0% vs 5.1% expected
- Prior 5.0%
ForexLive
Tue 31 Mar 2020 07:54:35 GMT
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Tokyo said to report 78 new coronavirus cases today
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NHK reports with the figure
mentioned
The 78 cases reported today will exceed the Sunday figure and will mark the biggest daily increase in confirmed cases in Tokyo, bringing the total tally to 521 cases.
Tue 31 Mar 2020 07:36:16 GMT
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Stocks extend gains to start the European morning
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European indices are up by roughly 2% to start the session
ForexLive
The DAX is now up by over 2% on the day as stocks extend gains to start the morning session. There is little headlines driving the moves right now as the market continues to take an extended breather after last week's action.
Tue 31 Mar 2020 07:18:56 GMT
EUR/USD tests waters under 1.1000 as dollar keeps firmer to start the session
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EUR/USD flirts with a firm break below the 1.1000 handle
ForexLive
The pair fell in overnight trading to break below the 200-day MA (blue line) and kept lower to firmly break the 100-day MA (red line) as well in trading today.
Tue 31 Mar 2020 07:08:34 GMT
European equities open the day on firmer footing
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A more positive start to the day
- Eurostoxx +1.3%
- Germany DAX +1.5%
- France CAC 40 +1.3%
- UK FTSE +1.1%
- Spain IBEX +1.1%
ForexLive
Decent gains across the board with US futures also sitting about 0.5% higher to start the session. The market mood is a bit more mixed with bonds also staying bid so far, 10-year Treasury yields are down by nearly 4 bps to 0.69%.
Tue 31 Mar 2020 07:00:04 GMT
Spain Q4 final GDP +0.4% vs +0.5% q/q prelim
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Latest data released by the National Statistics Institute - 31 March 2020
- GDP +1.8% vs +1.8% y/y prelim
The preliminary report can be found . A mild revision lower to the initial estimate on the quarterly figure but again, this pertains to pre-virus economic conditions and this is largely a thing of the past now so it doesn't matter.
Tue 31 Mar 2020 07:00:01 GMT
JPX confirms that the exchange will operate even if Japan goes into lockdown
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Just in case investors had that little bit of doubt
ForexLive
Tue 31 Mar 2020 06:55:24 GMT
Italian economic development minister says need to prepare for end of lockdown
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Comments by Italian minister, Stefano Patuanelli
The good news in Italy is that the percentage rise in the number of confirmed cases has fallen substantially over the past two weeks.
Tue 31 Mar 2020 06:49:11 GMT
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UK consumer confidence will be smashed
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UK consumer confidence will be smashed
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Confidence is everything
In current markets average daily ranges have seen rapid increases. Currency pairs that normally move 50-80 points a day have been finding that they move 300-600 points. Equity markets which previously moved around a maximum of 1-2% a day are now moving up to 10% in a single market session. These are volatile times indeed. Intelligent traders are responding the following way:
ForexLive
Tue 31 Mar 2020 06:45:08 GMT
France March preliminary CPI +0.6% vs +1.0% y/y expected
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Latest data released by INSEE - 31 March 2020
- +1.4%
- CPI 0.0% vs +0.4% m/m expected
- Prior 0.0%
ForexLive
That is quite a sharp drop in inflation pressures as the headline reading falls to its weakest level since December 2016. This comes on the back of falling energy prices over the past few weeks and mirrors the drop in inflation readings seen in Germany and Spain yesterday.
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Must Read
Technical Analysis
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AUD/USD grinds lower by 1% on the day, nears test of key near-term levels
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Dollar continues to keep firmer on the session
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EUR/USD tests waters under 1.1000 as dollar keeps firmer to start the session
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USD/JPY topside still limited by the 200-day moving average, what's next?
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US stocks close near session highs. Solid day higher.
Forex Orders
Central Banks
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ECB's Holzmann: Decision on coronabonds is up to governments
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BOJ raises frequency of bond purchases for April
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PBOC sets USD/ CNY reference rate for today at 7.0851
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PBOC adviser says setting a GDP target may force a 'flood-like' stimulus
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Fed's Bostic: Fed goal to ensure financial markets keep functioning
