Daily Alert – Tuesday 3rd March 2020: G7 Finance Ministers to talk today, equities boosted by hope of stimulus

Mark NugentDaily Alert, March 2020

Daily Alert – Tuesday 3rd March 2020: G7 Finance Ministers to talk today, equities boosted by hope of stimulus

Equities got some reprieve yesterday with talk of co-ordinated Central Bank activity to combat the economic impact of COVID-19. In fact, G7 Finance Ministers and Central Bankers will speak today at noon GMT to discuss their concerted response to the threat. Sentiment was moderately risk-on yesterday and equities are moving up slowly today (as of 0845 GMT).

The USD is dropping on market expectations of significant Fed rate cuts. Finding a strong counter-currency to trade with a weak USD is more of a problem.

I enter an S&P500 long yesterday on a pending order. So far it is doing well.

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