Laughter dumped tears. The main cause of the global recession became coronavirus, but when he was just starting to dissolve its tentacles throughout the world, stocks plummeting. Now, when the number of infected people is growing by leaps and bounds, S & P 500 marked a 20% increase in the three trading sessions. Those who look only to the chart, it may seem that the epidemic will save the world economy. Quite possible. Another week quarantine - and the mask will be my small. 

 

 

Events today:

15:30 MSK. US: The main index for personal consumption expenditures

 

The forecast of the euro to the dollar EURUSD today 03/27/2020
 

The former head of the ECB proposes to write off corporate debt in the fight against coronavirus COVID-19. According to Mario Draghi, countries need to increase public debt and private debt to cancel. Most likely policy in Italy and Spain will welcome such an approach, as both countries have a high level of debt to GDP (government debt + private debt), which is significantly exceeds 100% of GDP. Especially big problem in Italy, where debt has reached such proportions that it can not repay, and serve without external support difficult. Corporate debt relief will allow to restart the credit cycle. Since the last global crisis in 2008 Italy and Spain gained a significant amount of loans, and now it's time to reboot.

On the currency markets in New York and London, of which I spoke to this week, the situation with the dollar-denominated loans has stabilized and now to the subject does not make sense to go back. Consider the actions of the US Federal Reserve. Today, the US central bank will begin to redeem the bonds of US mortgage agencies. As part of the QE-4 operations will be redeemed securities worth 75 billion dollars. purchase plan for the next week the Fed has not yet sounded. What we have in the dry residue? Today forex players should not expect strong growth in the euro quotations. The market will consolidate in the psychological level of 1.1100.

EURUSD recommendation: flat 1.1020 -1.1120

 

 

While Rome burns, not only Rome, US stock indexes had a feast on the bones. Vzbodrenny scale monetary and fiscal stimuli S & P 500 soared to 20% of the March bottom level and pulled up for an EUR / USD. Since I announced a few days ago to break the resistance at 1,084 pair rose by 2.5 figures, and whether there will be! "Bulls" are full of optimism, seriously counting on the fact that the fashion for the dollar as the main asset of refuge in the past. Do a little early? 

 

The approval of the US Senate, $ 2 trillion stimulus helped the US stock indexes mark the first two-day rally since early February. Dow Jones has managed to grow by 12%, which was its best dynamics since 1987. According to the estimates of the main economic adviser to President Larry Kudlou, taking into account the aggressive monetary expansion, the Fed, the total amount of aid the US economy suffered from the coronavirus is $ 6 trillion, or 30% of GDP . It significantly exceeds the $ 800 billion stimulus of Barack Obama in 2008. Unlike the previous crisis, the current is going to be more profound, but short-lived. Whether it is time to buy stocks?

 

The British currency during the trading session on Wednesday moved to the active reduction. On day high, which was fixed at 1.1740 to couple GBPUSD 16:00 MSCs lost more than 150 points, request in region 1.18.