CLS’s Head of Information Services, Masami Johnstone, commented: “We saw average daily traded volumes in February 2020 of USD1.81 trillion, representing growth of 5% compared to February 2019. Over the same comparison period FX swap volumes were flat, the spot market was up sharply at 24%, while there was a decrease in forward volumes of…
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GOLD The gold price finds itself the perfect environment with first the Federal Reserve unleashing its potentially unlimited stimulus package, followed by the closure of some Swiss gold refineries due to coronavirus. Therefore, it is little surprise that the price is jumping, despite the temporary return of risk on sentiment to markets. Moreover, the huge…
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Semiconductor names a standout as stocks continue slide While the S&P 500 sank 2.9% on Monday, with ten of its 11 sectors in the red, chip makers were a rare bright spot. The semiconductors sub-sector of the Information Technology sector gained 4.1%, led by names including Intel, Advanced Micro Devices and Nvidia which rose 8.2%,…
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In addition to the consumer confidence survey data, the release of the "Initial" PMI for March is expected to indicate the performance of the industrial sector and will provide insight into the extent and depth of the turmoil. If we look at the services sector, which already showed signs of turmoil in February after the…
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Fibonacci retracement here is based on the ongoing downward movement which paused in the second half of last week. The 38.2% appears to be an important area, with price failing twice to break above it on Thursday and Friday. There is no longer any indication of oversold on this timeframe from either Bollinger Bands or…
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During the 2008 global financial crisis, caused by the implosion of US housing market, Japan released packages for over ¥15 trillion to combat the financial crisis. Liberal Democratic Party policy chief Fumio Kishida said: We need more drastic measures. Policy chief at Komeito, the LDP’s coalition partner, Noritoshi Ishida suggested granting fixed amount without setting…
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EUROPEAN SHARES Shares tumbled globally on Monday, with prices returning to last week’s lows as the spread of the deadly virus continues to have a big impact on market sentiment. Even though most markets tried to consolidate around major technical support zones last week after one of the steepest declines in decades, investors’ trading stance…
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Friday afternoon selloff caps dire week for US stocks Last week was a dismal one for US stocks, with all three major indices posting double-digit losses despite the Federal Reserve slashing interest rates to near-zero and announcing the restarting of quantitative easing. The Dow Jones Industrial Average is now down 32.8% year-to-date, after a Friday…
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The assistance came as an extraordinary move in the staid money-market fund industry after another week of volatile markets. Goldman’s plans were disclosed to the US Securities and Exchange Commission last Friday. Investors in the US withdrew tens of billions of dollars from prime money-market funds, which buy top-rated corporate debt. Usually, the are tame…
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In the UK, 33% of firms expect the economy to shrink and over 14% expect it to contract by 1-3%. Another 6% believe the UK economy will stay flat with no growth. In the US, 16% of firms expect the economy will shrink in 2020, most likely by 1-3% (7%) and 6% also expect it…
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