ForexLive Americas FX news wrap: Canada cuts and starts QE

Forex news for North American trade on March 27, 2020: Markets: - 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

Major indices close lower after late day rally fizzles out

Another big move in the last hour of trading The major indices are closing lower on the day after the late day rally fizzled out. Starting the last hour of trading, the major indices were trading at:

Fed to reduce daily pace of bond buying to $60B in April

Fed reigns in the bond buying The Fed's 'buy everything' strategy is getting reigned in a bit starting April 2. The central bank says it will cut buying back to $60B per day in Treasuries then.

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.  

We're in the last hour of trading....Buckle up

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.

EURUSD continues the upside probe

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

There are growing signs of workers walking off the job

Instacart plans nationwide strike Many workers are off work right now but many are also worried about being forced to work in conditions they don't think are safe.

ECB recommends that banks don't pay dividends until at least October

ECB asks banks to delay dividends The European Central Bank is recommending that banks don't pay any dividends to shareholders until at least October 1, 2020.

Canada fin min Morneau: To offer gov't-guaranteed loans to Canadian oil

Comments from finance minister Morneau Earlier this week Morneau said help for the oil and gas industry is coming in the form of government-guaranteed credit. He said the details are being worked on.

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