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16 Mar 2020

Gold: Selloff similar to the financial crisis – TDS

Gold positioning continues to be liquidated aggressively as rebalancing and margin calls prompt funds to sell the yellow metal, seeing prices post their largest weekly decline since 1983, economists at TD Securities apprise.

Key quotes

“The current gold market selloff is similar to what happened during the financial crisis, when prices dropped for a period of over three months along with collapsing equity valuations, as increased volatility and margin calls forced levered investors to sell to provide liquidity.”

“While the uncertainty surrounding the virus is likely to keep volatility and liquidation risks high, the pending historic low real/nominal interest rates, liquidity injections, quantitative easing and income support programs should reduce volatility and drive capital into gold once again when the dust settles.”

Mar 16, 2020

South Korea: BoK delivers an emergency rate cut – Standard Chartered

The Bank of Korea (BoK) delivers an emergency rate cut of 50bps due to coronavirus impact, economists at Standard Chartered Bank brief. USD/KRW is tra

USD/JPY: Support at 105.35 is about to be eroded

USD/JPY is trading at the immediate support of 105.35. Valeria Bednarik, a Chief Analyst at FXStreet, takes a look at the technical picture of the USD