{"id":166942,"date":"2020-03-20T07:30:11","date_gmt":"2020-03-20T11:30:11","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=166942"},"modified":"2020-03-20T07:00:51","modified_gmt":"2020-03-20T11:00:51","slug":"markets-bounce-as-investors-watch-authorities-response-to-pandemic","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2020\/03\/markets-bounce-as-investors-watch-authorities-response-to-pandemic\/","title":{"rendered":"Markets bounce as investors watch authorities\u2019 response to pandemic"},"content":{"rendered":"
March 20, 2020<\/div>
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By IFCMarkets<\/a><\/p>\n

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Dollar strengthening halts<\/h2>\n<\/div>\n<\/div>\n

US stock market <\/b> ended modestly higher on Thursday. The Federal Reserve announced the opening of temporary dollar swap lines with central banks in response to heightened global demand for dollars. And Congress continued discussing a fiscal stimulus package of more than $1 trillion. The S&P 500<\/a> rebounded 0.5% to 2409.39. The Dow Jones <\/em> industrial average advanced 0.9% to 20081.19. Nasdaq <\/a> composite index recovered 2.3% to 7150.58. The dollar strengthening slowed further as the manufacturing index from the Philadelphia Federal Reserve Bank plunged to its lowest since June 2012 while the number of Americans who filed for unemployment insurance for the first time rose last week: 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 101.76 but is lower currently. Futures point to higher openings today.<\/p>\n

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CAC 40 leads European indexes\u2019 rebound<\/h2>\n<\/div>\n<\/div>\n

European stocks’ <\/b> drop halted on Thursday after European Central Bank announced a new \u201cPandemic Emergency Purchase Programme\u201d on Wednesday night to buy bonds worth 1.1 trillion euros throughout this year. Both EUR\/USD<\/em> and GBP\/USD <\/em> continued their declines yesterday with both pairs higher currently. The Stoxx Europe 600 index rebounded 2.9% led by telecom shares. Germany\u2019s DAX 30 <\/a> gained 2% to 8610.43 despite the steep decline in German business sentiment as evidenced by the preliminary ifo Business Climate Index drop. France\u2019s CAC 40 <\/em> rose 2.8% while UK\u2019s FTSE 100 <\/em> added 1.4% to 52151.61 as the Bank of England announced another 15 basis points rate cut to 0.1% and increased its bond purchases program.<\/p>\n

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Asian indexes rebound while Nikkei falls<\/h2>\n<\/div>\n<\/div>\n

Asian stock indices<\/b> are are mostly higher today after modest gains on Wall Street overnight. Nikkei <\/em> however ended down 1% at 16552.83 as yen resumed its climb against the dollar. Markets in China are rising after reports of no new infections on Wednesday in the province of China where the virus emerged in December: the Shanghai Composite Index <\/em> is up 1.6% and Hong Kong\u2019s Hang Seng Index <\/em> is 4.3% higher. Australia\u2019s All Ordinaries Index rebounded 0.7% despite continued climb of the Australian dollar against the greenback.<\/p>\n

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

Brent futures prices <\/b> are extending gains today. Prices rebounded yesterday from 20year lows after talk the Trump administration may intervene in oil-price war between Saudi Arabia and Russia with diplomatic pressure to get the Saudis to cut oil production and threats of sanctions on Russia. May Brent crude jumped 14.4% to $28.47 a barrel on Thursday.<\/p>\n

\"BRENT<\/p>\n

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Gold rises as Dollar resumes declining<\/h2>\n<\/div>\n<\/div>\n

Gold <\/b> prices are accelerating gains today. Prices bounced yesterday: April gold edged up 0.1% to $1479.30 an ounce on Thursday.<\/p>

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Market Analysis provided by <\/strong><\/em>IFCMarkets<\/strong><\/em><\/a><\/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 Dollar strengthening halts US stock market ended modestly higher on Thursday. The Federal Reserve announced the opening of temporary dollar swap lines with central banks in response to heightened global demand for dollars. And Congress continued discussing a fiscal stimulus package of more than $1 trillion. The S&P 500 rebounded 0.5% to 2409.39. […]<\/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-166942","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/166942","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=166942"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/166942\/revisions"}],"predecessor-version":[{"id":166959,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/166942\/revisions\/166959"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=166942"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=166942"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=166942"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}