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Now that the euphoria around the loosening of lockdown restrictions is behind us, there is a reality setting in that is more painful to financial markets, one which seems to be promising things will take a lot longer to get back towards normal than what had been fantasy expectations for a V-shaped recovery. read report
Trading won’t get back to fuller conditions until Tuesday, when the bulk of market participants return from the Easter break. As the week gets going, there has been a fresh wave of risk off flow, with investors back to worrying about the massive fallout to the global economy from the coronavirus. read report
Thursday was a bloodbath in financial markets, and no asset was safe. Even the traditional safe haven appeal of GOLD wasn’t all that appealing, with the yellow metal sinking, presumably, as portfolio managers were forced to book profit on their long exposure, to offset intense setbacks on the equities side. read report
It’s been quite the turnaround since markets closed in the US on Wednesday. Into the Wednesday close, stocks were doing their thing, pushing to fresh record highs. But the news in early Asia of more deaths associated with the coronavirus and a big jump in reported cases, was enough to bring the risk on rally to a halt. read report
The US Dollar is mostly under pressure into the new week, with the Buck suffering from a weaker than expected US jobs report. We say mostly because there have been exceptions with respect to the Yen and Pound, albeit, for different reasons. read report
