Month: March 2020

Updated March 8, 2020: Italian Prime Minister Guiseppe Conti announced today that nearly one quarter of his country’s population will be on government-mandated lockdown until at least April 3. The country saw a dramatic spike in cases on Saturday, with 1,247 new diagnoses. The death toll in Italy currently sits […]

The US Dollar came under heavy sell pressure, especially against the Euro and the Japanese Yen, attributed by analysts to a plunge in yields on US treasuries. Growing concerns over the repercussions of the Coronavirus have shifted expectations that the Federal Reserve might move for another rate cut, perhaps even […]

The Pound Sterling made headway against its US rival and the Euro during London trade on Thursday as FX traders reevaluate the possibility of an imminent rate cut from the Bank of England. Yesterday, Andrew Bailey, who will take over the helm of the BoE from Andrew Carney, told lawmakers […]

China’s top gas importer PetroChina recently declared a force majeure on gas imports according to sources. Four industry sources told Reuters that the Chinese company issued a force majeure notice to several gas suppliers, most of them are piped-gas suppliers. 40% of PetroChina’s gas demand is supplied by overseas suppliers. […]

The U.S. dollar struggled to advance against its primary trading partners on Thursday as traders priced in the possibility that the Federal Reserve will implement at least one interest rate cut of 50 basis points by July. The Fed’s emergency interest rate cut on Tuesday sent the dollar spiraling to […]

Updated March 5, 2020 China reported 139 new cases and 31 new deaths on Wednesday, all of which were centered within the Wuhan province, the epicenter of the disease. South Korea reported 438 new cases and 3 new deaths, while the U.S. state of California declared a state of emergency […]

An unexpected interest rate cut by the Fed has FX traders pondering whether or not the Bank of England might act similarly. Those concerns sent the Pound Sterling lower against both the Euro and the greenback. Though the Fed’s move did little to assuage market concerns that it could shield […]

The Bank of Japan Governor Naruhiko Kuroda stated on Wednesday that the coronavirus epidemic could cause big damage to the Japanese economy, adding that the central bank should be ready to take appropriate action to counteract the effects of the outbreak. “If the epidemic is prolonged, it could also affect […]

Updated March 4, 2020  Central banks around the world, including the Federal Reserve, have lowered interest rates in an effort to stimulate the economy in the face of widespread damage caused by the coronavirus. Still, analysts are concerned that many countries aren’t equipped to handle the crisis fully, as they […]

The Federal Reserve took emergency measures on Tuesday afternoon with a unanimous decision to cut interest rates by 50 basis points. Wall Street benchmarks failed to respond positively to the news despite hopes for an instant boost to the markets. Chicago Fed President Charles Evans said on Tuesday night that […]