Daily Alert – Thursday 19th March 2020: Additional massive stimulus…markets finally calm
Huge additional stimulus from the Fed, ECB and RBA, coupled with the Fed making access to dollars easier for nine central banks, seems to have finally stabilised the markets. There is now a clear floor under equities. The runaway USD is still rising but at a significantly slower rate. GOLD seems to be respecting a floor too. The EUR looks to be about to break it’s four week bull run. Today, the JPY is down and the commodity currencies are rallying for the first time in a long time.
I will be watching the USD closely to see if it really has been subdued. I will also be watching equities do see how they react at their current support levels.
That’s it from me for this week. See you on Monday.
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