Following ECB’s decision to announce a massive, open-ended, €750 billion asset purchase programme in an effort to mitigate the economic impact of the virus outbreak, the EUR/USD has nosedived. Already under pressure because of a rallying US dollar, this package was the final nail in the coffin for the single currency. If it stays below …
Some folks have attributed gold’s recent decline, in the face of collapsing equity prices and interest rates, to a stronger US dollar. This is not the case, as gold in euro terms have also fallen equally sharply. Investors are therefore abandoning the so-called safe-haven metal for other reasons, including because of concerns over physical demand …
The brutal sell-off continued this morning as investors once again shrugged off the latest round of emergency central bank rate cuts. Equity investors are realising each passing day that the economic impact of the virus outbreak is going to be severe, after initially downplaying the risks. It is not just about cancellations of holidays, footballing …
After last week’s big drop, gold has staged a sharp rally and looks set to break to a new high for the year. Investors are ignoring concerns over physical demand for the precious metal and instead concentrating on its appeal as a safe-haven commodity. The metal has risen to a high so far of $1666, …
Gold extends recovery as stocks, yields and dollar drop Read More »
Following another day of sharp falls for European markets, index futures point to another weaker open on Wall Street. This will be the sixth down day, and will be interesting to see whether the shorts will continue to press on, or if there will be some tactical buying here and there. In any case, trading …
Markets continue to struggle as we enter day six of sell-off Read More »
Earlier we reported that the markets fell sharply amid growing concerns over the spread of the virus hurting economic growth. At one stage the Dow was down in excess of 1000 points! But as I write this, the markets are coming off their worst levels. Have we hit a low, or is this a temporary …
S&P tests key level after a big drop on coronavirus concerns Read More »
The sell-off in risk assets continued in early European session. A jump in new coronavirus cases in Italy and South Korea over the weekend has intensified concerns that global demand could be a lot softer in Q1 than anticipated due to the impact of the virus. Investors went in panic mode and dumped stocks with …
Markets in total panic mode as coronavirus cases Jump Read More »
