Oil takes a dive

27 May 2020
Oil down $2 in a quick move
The market mood has turned in a big way. It's not just stocks with oil now piling on with a quick move lower to extend today's decline to $2 per barrel.
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US stocks fall into negative territory, led by tech

27 May 2020
S&P 500 gives it all back
The S&P 500 opened 1% higher but it's now down 0.3% in a quick turnaround. Tech is leading the way lower and the Nasdaq is down 1.6%, led by stay-at-home and virus names.
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Dallas Fed services sector index -41.7 vs -83.9 prior

27 May 2020
Service sector survey from the Dallas Fed
It's a better sign but still deeply negative. We know that we're heading towards some kind of recovery, but the strength of it is the big question.
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The Chinese yuan is on the brink of a major break

27 May 2020
Yuan threatens long-term low
USD/CNH today matched the September high at precisely 7.1965.
Given the dynamic with China re-opening, you would expect the yuan to be stronger but it's not. The latest leg is no-doubt related to Hong Kong and potential sanctions and that's partly natural but it could also be China sending a warning signal to
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May Richmond Fed manufacturing index -27 vs -40 expected

27 May 2020
May Richmond-area manufacturing survey
See here for global coronavirus case data
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What is a central bank blackout period?

27 May 2020
Blackout periods for banks
Looking to learn more about central banks and their impact on FX?
 to learn more.
Checkout ForexSource.co
See here for global coronavirus case data
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The Australian dollar is sending a negative signal

27 May 2020
Sharp drop in North American trade
The Australia dollar completed the coronavirus comeback yesterday as it completely recouped the March-April decline to trade back to where it was in mid-February.
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S&P 500 rises back above the 200-dma but stalls at yesterday's high

27 May 2020
What's moving the market
The S&P 500 is a bit softer shortly after the open than anticipated. The index matched yesterday's high of 3021 but the peeled back to 3014.
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Fed's Williams: We're seeing some signs of pickup

27 May 2020
Comments from Williams in an interview:
See here for global coronavirus case data
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US stock futures set for another day of gains

27 May 2020
Futures higher
US stock futures point to a 35 point gain, following a 36-point rally on Tuesday. US stocks sagged late yesterday but the mood recovered overnight and the index will break 3000 and the 200-day moving average once again.
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