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Market Reports

8:30am, March 25th 2020

Stock Markets Surge Higher as Stimulus Efforts Pay Off

The Dow Jones Industrial (30 top US companies) put in its best performance since 1933 yesterday. It rose 11%, along with many other global indices (FTSE 10%+), as investors begin to respond to government and central bank stimulus efforts.

Overnight, US congress passed a $2-trillion stimulus package which will help both businesses and individuals survive what is likely to be a sharp and possibly prolonged economic downturn. This latest action from the US government, mixed with the Fed’s move on Monday, certainly makes one question what they collectively have left in the tank. Even though they would have everyone believe their respective arsenals are still full, it’s becoming clear they are reaching the limit of their abilities. For now, markets remain content, however, as we’ve already seen many times before in the current saga, this could change quickly.

Yesterday’s PMI numbers were shocking across the board. From the eurozone, to the UK and over to the US, the data truly displayed a collapse in activity. While the manufacturing numbers were not so bad, service figures were painful, to say the least. The next few months will be testing for everyone, hopefully, measures taken by central banks and governments will cap the economic downside.

The calendar is once again eventful today. There’s something from each major region in the west. The UK sees its latest inflation print, while Germany sees an IFO business sentiment gauge at 0900. From the US today, durable goods orders are scheduled for release at 1230.

8:30am, March 25th 2020

The details expressed in this market report are for information purposes only and are not intended as a solicitation for funds or a recommendation to trade. Cornhill International Payments limited accepts no liability whatsoever for any loss or damages suffered through any act or omission taken as a result of reading or interpreting any of the above information.

Previous Reports

9:28am, May 15th 2020

Sterling Looking Vulnerable As Week Draws to a Close

View Report
8:43am, May 20th 2020

US Dollar Remains Pressured

View Report
7:51am, May 26th 2020

Dollar Weakens as Participants Return

View Report


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