Currency trends in the foreign exchange market are changing rapidly. Looking back at 2019, the global financial market has been turbulent and black swan incidents have emerged one after another. In 2020, many time bombs will also be released.
At 2 o’clock in the morning on March 16, the Fed raised interest rates by 25 basis points. After the announcement of the resolution, the US dollar exchange rate fell, the yields of US Treasuries plunged, and gold appeared to skyrocket.
COMEX’s most active April gold futures contract had a trading volume of 10082 lots within one minute at 02:00 Beijing time. Buying orders worth more than US$1.2 billion caused the price of gold to rise by more than US$10 in the short-term, reaching an intraday peak of US$1219.36/ ounce. The U.S. dollar index fell sharply in the short-term, with a drop of nearly 1% at one time.
The price of safe-haven assets rose rapidly. Spot gold rose by US$10 to US$1263 in the short-term, and silver rose by 0.66%; the yen rose sharply, and the US dollar/yen is now at 110.31. Crude oil also reacted significantly. Brent crude oil and WTI crude oil futures both rose more than 1%.
Roller-coaster-like market often catches everyone by surprise. MagKing Forex reminds everyone to be careful of the risks in “stimulus”, and must do strict risk control in their transactions.
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