ForexLive Americas FX news wrap: Canada cuts and starts QE
Forex news for North American trade on March 27, 2020:
- Gold down $9 to $1622
- WTI crude down $1.01 to $21.60
- US 10-year yields down 16 bps to 0.68%
Wave after wave of US dollar selling was the theme again as last week's funding-driven gains unwind following central bank action. Even the Bank of Canada cutting
CFTC commitments of traders: EUR longs at the highest level since June 2018
Forex futures positioning data for the week ending March 24, 2020
Highlights:Below is the EUR speculative position. The position has shifted from -114K during the week of February 25th straight up to the +61K this week.
The last hour has been a roller coaster ride of late.
Nevertheless, the volatility in the last hour of stock trading has been... well historic of late. So buckle up. The values at the top of the hour showed:
Federal Reserve considering more steps to help state and local governments
Fed reviewing ways they can help
From the WSJ:
Federal Reserve officials are reviewing new ways to support financing for state and local governments, many of which are on the front lines of the coronavirus pandemic and will face huge borrowing needs as revenues plunge, according to people familiar with the matter.
A close back above the 200 day MA at 1.1080 would be the first since March 16
For the month of March, the EURUSD peaked on March 9th at 1.14918. It spent the next 9 -10 trading days trending to the downside. The low was reached on March 23 (on Monday). The last 5 days has
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