Daily Alert – Wednesday 25th March 2020: Massive USD2.5 trillion stimulus package agreed
At 5am GMT, US Congressional leaders have agreed a stimulus package worth USD2.5 trillion. The Senate is expected to pass the bill today. Equities are continuing up after yesterday’s huge gain.
However, last night I felt currencies were more predictable than equities and I traded a weak USD and JPY against a strong AUD and NZD. Both are in the money, around one times risk.
I am not sure how long the equity rally will last as the worst of the pandemic is ahead of us. I’ll be sticking to forex for the time being.
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