
Last week, there were sharp swings in USDJPY, a decline in oil prices, and a surge in Tesla stock. What's next?
As the situation with coronavirus got worse during the weekend, the Federal Reserve and the Reserve bank of New Zealand cut their interest rates in response to the treats to global economy.
The eventful Sunday began with the Reserve bank of New Zealand slashing its interest rate by 75 basis points to 0.25%. Against the USD, the New Zealand dollar has tested the 0.6 level on the announcement.
Just two hours later, the Federal Reserve also cut the interest rate, moving it within the range of 0-0.25%. In addition, the regulator softened the loans conditions for the banks, i.e. increased the length of the discount window to 90 days and reduced reserve requirement ratios to 0%. To boost the economic conditions, the Fed launched a new round of quantitative easing program in $700 billion.
The surprising news pulled EUR/USD lower at first to the 100-period SMA at 1.11 on H4, but then the pair inched up to 1.1212.
Basically, the situation is not getting any better, and the central banks try to do their best to response the uncertainties surrounding the virus outbreak. Up next we will hear the breaking announcement of the Canadian government later today, the comments by the EU finance ministers, and the G7 video conference at 16:00 MT time. Follow the news with us to be updated on the events!
Last week, there were sharp swings in USDJPY, a decline in oil prices, and a surge in Tesla stock. What's next?
Geopolitical factors and inflation remain the main drivers of financial markets. Let’s see how to use that in trading!
Last week was super intense! Geopolitical turbulence made the Russian ruble the most volatile currency. Gold rose and fell by more than 8000 points each time.
The United States Bureau of Economic Analysis will release monthly Personal Consumption Expenditures (PCE) on June 30, 15:30 GMT+3.
The governor of the Bank of England, Andrew Bailey, will hold a speech on June 29 at 15:30 MT time (GMT+3).
The US Markit will publish Flash Manufacturing and Flash Services PMIs (purchasing managers' indices) on June 23 at 16:45 GMT+3.
FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.
Your request is accepted.
A manager will call you shortly.
Next callback request for this phone number
will be available in
If you have an urgent issue please contact us via
Live chat
Internal error. Please try again later
Don’t waste your time – keep track of how NFP affects the US dollar and profit!
Beginner Forex book will guide you through the world of trading.
We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.