{"id":166551,"date":"2020-03-16T07:58:20","date_gmt":"2020-03-16T11:58:20","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=166551"},"modified":"2020-03-16T07:28:15","modified_gmt":"2020-03-16T11:28:15","slug":"futures-stumble-after-fed-slashes-interest-rate-to-0","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2020\/03\/futures-stumble-after-fed-slashes-interest-rate-to-0\/","title":{"rendered":"Futures stumble after Fed slashes interest rate to 0%"},"content":{"rendered":"
March 16, 2020<\/div>
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By IFCMarkets<\/a><\/p>\n

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US stocks bounced back while Trump declares emergency<\/h2>\n<\/div>\n<\/div>\n

US stock market <\/b> bounced back on Friday after President Trump declared a national emergency opening up $50 billion of financing to combat coronavirus outbreak. Sunday night Federal Reserve cut interest rates to 0% and announced $700 billion QE program. The S&P 500<\/a> rebounded 9.3% to 2711.02, booking a 8.8% loss for the week. Dow Jones <\/em> industrial jumped 9.4% to 23185.62. The Nasdaq <\/em> ended 9.3% higher at 7874.88. The dollar strengthening accelerated as University of Michigan consumer sentiment index declined less than expected. The live dollar index<\/a> data show the ICE US Dollar index, a measure of the dollar\u2019s strength against a basket of six rival currencies, rose 1% to 98.47 but is lower currently. Futures on stock indexes are down.<\/p>\n

\"SP500<\/p>\n

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FTSE 100 led European stock indexes rebound<\/h2>\n<\/div>\n<\/div>\n

European stocks <\/b> rebounded on Friday. Both EUR\/USD <\/em> and GBP\/USD <\/em> continued sliding on Friday with both pairs higher currently. The Stoxx Europe 600 Index added 1% led by basic resources shares. The DAX 30 <\/em> edged up 0.8% to 9232.08 Friday. France\u2019s CAC 40 <\/em> gained 1.8% and UK\u2019s FTSE 100 <\/a> rose 2.5% to 5366.1.<\/p>\n

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Australia\u2019s All Ordinaries Index leads Asian indexes plunge<\/h2>\n<\/div>\n<\/div>\n

Asian stock indices<\/b> are lower today after surprise one percentage point rate cut by the Federal Reserve. Nikkei <\/em> fell 2.5% to 17002.04 as yen resumed its climbing against the dollar. China\u2019s markets are falling after reports China’s industrial output, retail sales fell in the first two months of the year: the Shanghai Composite Index <\/em> is down 3.4% while Hong Kong\u2019s Hang Seng <\/em> Index is 5.2% lower. Australia\u2019s All Ordinaries Index plummeted 9.7% despite continued sliding of Australian dollar against the greenback.<\/p>\n

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Brent <\/a> slips<\/h2>\n<\/div>\n<\/div>\n

Brent futures prices <\/b> are in retreat following 25% plunge last week after Saudi Arabia boosted crude oil production. Prices rose on Friday as President Trump said strategic crude oil reserves will be replenished by purchases at current lower prices: Brent for May settlement added 1.9% to $33.85 a barrel Friday.<\/p>\n

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Gold rebounds as Dollar weakens<\/h2>\n<\/div>\n<\/div>\n

Gold <\/b> prices are recovering today. Prices fell on Friday as dollar strengthening speeded up. Gold for April delivery lost 4.6% to $1516.70 on Friday.<\/p>

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<\/a>\r\n\t Get Our Free Metatrader 4 Indicators<\/u><\/b><\/a> - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter<\/p>

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Market Analysis provided by IFCMarkets<\/a><\/strong><\/p>\n

Note:
\nThis overview has an informative and tutorial character and is published for free. All the data, included in the overview, are received from public sources, recognized as more or less reliable. Moreover, there is no guarantee that the indicated information is full and precise. Overviews are not updated. The whole information in each overview, including opinion, indicators, charts and anything else, is provided only for familiarization purposes and is not financial advice or \u0430 recommendation. The whole text and its any part, as well as the charts cannot be considered as an offer to make a deal with any asset. IFC Markets and its employees under any circumstances are not liable for any action taken by someone else during or after reading the overview.<\/p>\n","protected":false},"excerpt":{"rendered":"

By IFCMarkets US stocks bounced back while Trump declares emergency US stock market bounced back on Friday after President Trump declared a national emergency opening up $50 billion of financing to combat coronavirus outbreak. Sunday night Federal Reserve cut interest rates to 0% and announced $700 billion QE program. The S&P 500 rebounded 9.3% to […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-166551","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/166551","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=166551"}],"version-history":[{"count":3,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/166551\/revisions"}],"predecessor-version":[{"id":166563,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/166551\/revisions\/166563"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=166551"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=166551"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=166551"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}