US Senate Minority Leader Schumer ups the budget proposal for the coronavirus

Trump proposed 1.25B. Schumer proposes $8.5B Meanwhile Trump will be addressing the nation at 6 PM ET.  He is blaming the fake news for focusing on the negative.  

GBPUSD trends lower but consolidating/correcting in early NY session

Finds some support at swing lows from Monday/Tuesday The GBPUSD has trended lower mostly in the London session today.  However, the move lower was helped by hold a topside trend that admittedly was broken yesterday, but could not accelerate to the upside. The hold of the trend line was a help for sellers confidence.

The EURUSD is testing day lows after run higher failed

Swing area at 1.08607-646 is a swing area going back to mid February. The EURUSD has been trading up and down. On the topside, the pair did move above a swing area at 1.0885 to 1.0890, but ran into topside resistance trend line.    

ECB Lagarde: Level of trust in euro is critically important

ECB Pres. Lagarde speaking in Germany Not much in market moving news, but will be monitoring for more.  More from Lagarde: ForexLive

Lagarde due to speak in Germany at the bottom of the hour

New home sales at 10 AM  ECB Lagarde will speak in Germany at the bottom of the hour. IN other data,  ForexLive

The CHF is the strongest and the GBP is the weakest as NA traders enter for the day

The USD is stronger today As NA traders enter for the day, the focus remains on the coronavirus details, the stock markets reaction and fear. That - along with technicals - should drive the forex market.   The European market had limited data but saw their major indices move lower but rebound. The German Dax is still

Trump will have a press conference at 6 pm ET (2300 GMT) on coronavirus

Trump to speak about the virus The Washington Post today reports that Trump is 'furious' that the stock market is falling because of coronavirus. The president has reportedly cautioned aides against forecasting the impact of the virus over fears that stocks could fall further, The Washington Post said.

ForexLive European FX news wrap: Another risk scare but the market turns it around

Forex news from the European morning session - 26 February 2020 Headlines: Markets: - CHF leads, GBP lags on the day - European equities lower; E-minis up 0.2%

US MBA mortgage applications w.e. 21 February +1.5% vs -6.4% prior

Latest data from the Mortgage Bankers Association for the week ending 21 February 2020 - -6.4% ForexLive A mild increase on the week, owing to higher purchases, but the good news is that the long-term mortgage rate continues to ease further - and will surely fall further this week. That should help with home buyers a little

USD/JPY climbs to session high on yields turnaround

USD/JPY touches a high of 110.60 on the day ForexLive The pair is climbing back up towards the 200-hour MA (blue line) as the turnaround in yields is prompting yen crosses to move higher on the session. US 10-year yields are up by 1.8 bps to 1.37% currently, after having fallen to 1.31% earlier.

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