{"id":166853,"date":"2020-03-19T07:52:37","date_gmt":"2020-03-19T11:52:37","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=166853"},"modified":"2020-03-19T07:52:37","modified_gmt":"2020-03-19T11:52:37","slug":"futures-down-despite-ecb-unveiling-1-1-trillion-euros-bond-purchases-plan","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2020\/03\/futures-down-despite-ecb-unveiling-1-1-trillion-euros-bond-purchases-plan\/","title":{"rendered":"Futures down despite ECB unveiling 1.1 trillion euros bond purchases plan"},"content":{"rendered":"
March 19, 2020<\/div>
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By IFCMarkets<\/a><\/p>\n

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Dow erases virtually all gains since President Trump\u2019s 2017 inauguration<\/h2>\n<\/div>\n<\/div>\n

US stock market <\/b> erased previous session gains on Wednesday despite Congress passing the first of two planned bills providing financial aid to businesses suffering economic damage from the coronavirus pandemic, while Federal Reserve promised a liquidity program for money market mutual funds. Investors weren\u2019t impressed by the European Central Bank announcement of new program to buy bonds worth 1.1 trillion euros throughout this year. The S&P 500<\/a> fell 5.2% to 2398.10. The Dow Jones <\/em> industrial average plummeted 6.3% to 19898.92. Nasdaq <\/em> slumped 4.7% to 6989.84. The dollar strengthening slowed as the consumer inflation annual rate slipped to 2.3% from 2.5% in January. 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 1.3% to 100.72 and is higher currently.<\/p>\n

\"DJI<\/p>\n

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CAC 40 led European indexes retreat<\/h2>\n<\/div>\n<\/div>\n

European stocks <\/b> also pulled back on Wednesday erasing previous session gains. The European Central Bank launched new bond purchases planning to buy 1.1 trillion euros worth of bonds worth 6% of the euro area\u2019s GDP. The EUR\/USD <\/em> slowed its decline yesterday while GBP\/USD <\/em> accelerated, with both pairs lower currently. Pound lost 3.6% hitting its lowest point since October 2016. The Stoxx Europe 600 ended down 4% led by energy shares. Germany\u2019s DAX 30 <\/em> lost 5.6% to 8441.71. France\u2019s CAC 40<\/em> plunged 5.9% while UK\u2019s FTSE 100 <\/em> fell 4.1% to 5080.58 despite government\u2019s pledge of nearly $400 billion aid to help businesses through the crisis.<\/p>\n

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

Asian stock indices<\/b> are again on defensive after sharp losses on Wall Street overnight. Nikkei <\/em> retreated 1.1% to 16546.50 despite continuing yen slide against the dollar. Markets in China are falling: Shanghai Composite Index <\/em> is 1% lower while Hong Kong\u2019s Hang Seng Index <\/em> is down 2.4%. Australia\u2019s All Ordinaries Index tumbled 3.4% despite Australian dollar\u2019s continuing slide against the greenback as the Reserve Bank of Australia cut interest rates a quarter percentage point to 0.25%.<\/p>\n

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

Brent futures prices <\/b> are extending losses today. Prices fell yesterday as the Energy Information Administration reported US crude oil inventories rose by 2 million barrels last week, eighth weekly rise in a row: May Brent fell 13% to $24.88 on Wednesday.<\/p>\n

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Gold edges up<\/h2>\n<\/div>\n<\/div>\n

Gold <\/b> prices are advancing today after a retreat on Wednesday. April gold price of an ounce of gold fell 3.1% to $1477.90 on Wednesday.<\/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 Dow erases virtually all gains since President Trump\u2019s 2017 inauguration US stock market erased previous session gains on Wednesday despite Congress passing the first of two planned bills providing financial aid to businesses suffering economic damage from the coronavirus pandemic, while Federal Reserve promised a liquidity program for money market mutual funds. Investors […]<\/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-166853","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/166853","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=166853"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/166853\/revisions"}],"predecessor-version":[{"id":166857,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/166853\/revisions\/166857"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=166853"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=166853"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=166853"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}