Market analysis：The dollar was a touch firmer on Wednesday, buoyed by its safe-haven status with the world staring at what is likely to be one of the worst economic contractions for decades as it locks down to fight the coronavirus pandemic.It advanced against the Australian and New Zealand dollars, the euro, yen, Swiss franc and pound in Asian trade - but not much - as appetite for the safety of cash dollars was offset by aggressive liquidity measures from the U.S. Federal Reserve.
The world's biggest oil and gas companies are cutting spending this year following a collapse in oil prices driven by a slump in demand because of the coronavirus crisis and a price war between top exporters Saudi Arabia and Russia.Cuts already announced by eight major oil companies, including Saudi Aramco (SE:2222) and Royal Dutch Shell (LON:RDSa), come to a combined $28 billion, or a drop of 20% from their initial spending plans of $142 billion.
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Market analysis：Asian shares faced another leg lower on Wednesday as the coronavirus sharply slows global growth, leading a gauge of world stocks to post its biggest quarterly decline in more than a decade and oil prices to trade near lows last seen in 2002.
USD/CAD ran into resistance a couple of weeks back via the 2016 highs, initially the pullback was looking like it might be shallow but then a minor wave of selling hit. The selling may be over now, with the Friday low at 13920 acting as the line-in-the-sand to watch.
The British Pound has declined by 7.67% in value against the Canadian Dollar since March 9. The currency pair tested the lower boundary of an ascending channel pattern at 1.6534 during last week's trading sessions.
Market analysis：The dollar traded marginally higher Tuesday, helped by gains against the more defensive currencies, the Japanese yen and the Swiss franc, on the last trading day of the month.At 3:05 AM ET (0705 GMT), the U.S. Dollar Index, which tracks the greenback against a basket of six other currencies, stood at 99.597, up 0.3%. USD/JPY gained 0.6% to 108.50, USD/CHF rose 0.5% to 0.9629, while EUR/USD fell 0.4% to 1.1005.
GBP/NZD may face selling pressure ahead if the pair fails to re-mount the January uptrend which has served as a key inflection point at several intervals. Over the past few weeks, traders have expressed an interest in climbing higher as demonstrated by the far-reaching wicks but ultimately failed. The lack of confidence could lead to capitulation and catalyze a selloff until GBP/NZD hits the familiar 1.9878-2.0000 support range.
Market analysis：World stocks looked set to close their worst quarter since 2008 on a brighter note on Tuesday, as strong Chinese factory data held out hope for an economic revival even as much of the rest of the world shut down to fight the coronavirus.
Market analysis：The U.S. dollar index, which tracks the greenback against a basket of other currencies, rose 0.35% to 98.885 by 11: 18 PM ET (4:18 AM GMT).
Crude oil fell sharply on Monday, with U.S. crude briefly dropping below $20 and Brent hitting its lowest level in 18 years, on heightened fears that the global coronavirus shutdown could last months and demand for fuel could evaporate further.
Related product：Crude Oil
Market analysis：Collapsing oil prices have left African producers facing not only lost revenue when they most need it to tackle coronavirus, but also a fall in hard-won market share they may never regain.
Euro recovery may be losing steam near 1.11 vs US DollarBreak of trend line support needed to confirm bearish turnTrader sentiment studies continue to argue for the upside
Amid the raging global pandemic, slumping oil price and liquidity crisis, the US Federal Reserve has been doing its utmost to save the market. But what investors may be most concerned about is this: has US stocks bottomed out?In terms of valuation, US stocks have fallen to a low level after successive slumps. S&P500 estimated price-to-earning ratio is 13.9, down from 16 of a week ago and the lowest since 1990。 This,though not a record low, is already less than most historical data.Overall, market evaluation of various sectors’ stock performances are getting more reasonable, with several sectors such as industry, finance and real-estate underpriced and showing more potentials for investment. Though investors may not be able to precisely pinpoint the lowest extreme, but the current US stock indices are clearly at a relatively low range. And with the Federal Reserve again applying zero-interest-rate and resuming QE, global central banks also follow suit in announcing new easing policies, creating an extremely favorable policy environment.With the market valuation near a historical extreme, overly-panic is not a good choice now. Investors should remain positive and remember to “Be fearful when others are greedy, and greedy when others are fearful”.
Market analysis：Two weeks after investors dumped everything they could to hoard U.S. dollars, some are now happy to sell.The Bloomberg Dollar Spot Index is headed for its biggest weekly loss since 2009, with the greenback sliding against 16 major peers. Traders point to a confluence of reasons, ranging from less stress in funding markets, the repatriation of funds as the quarter ends and the worsening coronavirus outbreak in the U.S.
Market analysis：Dana Moneter Internasional atau International Monetary Fund (IMF) menyatakan ekonomi dan keuangan global saat ini tengah mengalami krisis akibat pandemi virus corona (COVID-19). Lantaran virus ini telah mewabah di hampir seluruh negara dan sekaligus melumpuhkan ekonomi.Bila ekonomi dan keuangan global krisis, bagaimana dampaknya terhadap Indonesia?Menurut Kepala Ekonom Bank Permata Josua Pardede, krisis ekonomi dan keuangan global cepat atau lambat tentu bakal turut memengaruhi perekonomian Indonesia. Sektor yang pertama kali terpukul oleh krisis tersebut adalah sektor produksi dan pengeluaran.
It’s been a month of extremes in global markets as a shocking and historically aggressive equity sell-off finally found some semblance of support this week.The US Dollar put in a strong rally as risk aversion was heating up in the middle of March, gaining as much as 8.8% over a ten-day-period.With the S&P 500 digging into support and the US Dollar tempering gains, both reactions to recentFOMC actions – the big question now is whether the worst is over or whether there’s more selling yet to come.
Market analysis：The stock market gyrated wildly over the last five trading sessions as investors try to ascertain whether fiscal stimulus and the FOMC can trump economic cost of the coronavirusDow Jones price action printed its biggest weekly gain since the 1930s even though the major stock market index slipped 4% on Friday and remains down 25% year-to-dateRecession risk looms large with the economy likely facing one of the sharpest and most abrupt downturns in modern history
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Related product：Crude Oil
Market analysis：Oil prices rebounded on Friday in Asia after falling overnight amid more evidence of the coronavirus' devastating impact on the U.S. economy.The U.S. Crude Oil WTI Futures rose 1.7% to $22.98 by 11:59 PM ET (03:59 GMT), after losing more than 7% earlier in the day. International Brent Oil Futures gained 0.9%, recovering slightly from the 8% losses overnight. Both contracts are down about 60% so far this week.
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