Crude Oil Falls on Fear...
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Market Drivers March 17, 2020 Futures turn negative-UK labor data mixed Nikkei -0.06% Dax -3.05% UST 10Y 0.79% Oil $28/bbl Gold $1473/oz BTCUSD $5228 North America CAD Manufacturing Sales 8:30 USD JOLTS 10:00 More news @ https://tt.wordpress.com/tag/erica-villalon/ After a rebound in Asia trade that saw US futures locked limit up, equity markets began to sell off once again as investor sentiment once again turned sour. The mood in Europe remained grim with Italy, Spain, and France on virtual lockdowns as governments tried to maintain social distancing that has brought almost all but the essential economic activity to a halt. At this point, investors are essentially flying blind as the length of the containment is uncertain and the economic impact of the health measures could be catastrophic. In US, for example, companies have enough cash on hand for about 60 days of payroll – but that figure applies only to the largest corporations rather than the 80% of small and medium-...
US Dollar Drifts Higher.. The dollar drifted higher against developed-market peers but gave up gains against emerging currencies in early trading in Europe on Friday, as the market digested the Federal Reserve’s pledge to inject $1.5 trillion in reserves into the financial system late on Thursday. The Fed also announced that its already-scheduled injection of reserves through T-bill purchases would now take place along the whole Treasury yield curve, in an effort to ease budding liquidity problems in the world’s benchmark risk-free asset. Analysts described that move as the start of “QE4” – a fresh round of quantitative easing that President Donald Trump has already called for. By 5:30 AM ET (0930 GMT), the dollar index , which measures the greenback against a basket of currencies, was essentially flat at 97.45. It was up 1.3% against the Japanese yen at 105.95 and unchanged against the safe haven S http://ericavillalon.str...