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Markets have come to a bit of a standstill into Wednesday, and the price action is understandable after seeing the recent moves we’ve seen, on top of the fact that we’re heading into some important event risk later today in the form of the FOMC policy decision. read report
We’re into holiday trade as the week closes out, and we would caution against reading too much into whatever price action we see between now and end of day. Overall, risk sentiment has been looking up in a big way, with US equities up over 10% since the weekly open, as reflected through the S&P 500. read report
Investors are trying to look up into Tuesday, in the aftermath of Monday’s massive market fallout. The catalyst for this latest recovery attempt has come out of the White House, where President Trump has announced plans for a payroll tax cut and ‘very substantial relief’ for industries affected by the coronavirus. read report
All of the worry associated with the coronavirus and yet, risk assets have been supported in Monday trade thus far. There are a number of factors that seem to be contributing to this. Looking at the Monday calendar, we get some Eurozone confidence data and a batch of Fed speak. read report
We’re set to close out the week with the US equity market easily managing its way through yet another wave of downside risk, extending the run of record gains. There was barely a moment of weakness on the escalation of tension between the US and Iran, and now that this risk has calmed, stocks are right back to the business of doing what they do. read report
