Date : 25th March 2020. FX Update – March 25 – USD Cools USDCAD, H1 The commodity (AUD again today’s best performer) and many developing world currencies have continued to rebound, while the Dollar, Yen and Swiss franc have traded generally softer. This comes with Asian stock markets rallying and European markets opening positively after the DJIA equity index posted its biggest single-day rally on Wall Street since 1933. The US Senate and White reached agreement on a $2 tln fiscal stimulus package, which joins a growing list of countries around the world to have unveiled bazooka-sized spending packages, joining ambitious central bank monetary stimulus efforts aimed at mitigating the impact of virus containing measures. This comes amid tentative signs that the lockdown in Italy is starting to work, as new cases and the death rate ebb. There are also other signs of encouragement, such as news that 20% of US companies in China have reported that they have returned to normal operations, showing that there is economic life after lockdown. Among the main currencies, USDJPY has traded neutrally so far today, while most Yen crosses, especially those with a commodity or developing world currency counterpart, have lifted. USDJPY has held with a range of 110.75-111.50, narrow by recent standards and well within the bounds of yesterday’s range. EURJPY has posted modest gains, but remained below yesterday’s peak. AUDJPY, amid its fifth consecutive up day, posted a 10-day high at 67.25. AUDUSD lifted by 1.2% in printing an eight-day high at 0.6060, extending the rebound from last week’s 18-year low of 10%. USDCAD fell to a five-day low at S2 and below 1.4300 at 1.4299, with the Canadian Dollar continuing to correlate closely with oil prices, which today extended over 3% higher to five-day highs, but remains capped at $25.00. EURUSD has traded higher, to the mid 1.0800s, but has remained comfortably within Tuesday’s range. Always trade with strict risk management. Your capital is the single most important aspect of your trading business. Please note that times displayed based on local time zone and are from time of writing this report. Click HERE to access the full HotForex Economic calendar. Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE! Click HERE to READ more Market news. Stuart Cowell Head Market Analyst HotForex Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.