| Adam Button from ForexLive talks about the coronavirus crisis in markets and how it's affected the Canadian dollar. "What’s happened is a US dollar funding crunch. The world runs on US dollars and there have been no other safe havens so everyone has been piling into the dollar. The relative stability of the loonie – as tough as that is to believe – is a good sign for the Canadian financial system. We’re not seeing the level of panic moves from the BOC as some other central banks are making. That gives me a sliver of confidence but my fear is that the market will crumble again when the first few waves of large-scale US testing begin. For now, everyone is doing the only thing that works and that’s buying US dollars. Some fresh swap lines today have inspired a small reversal but nothing else is working so you have people piling in and the price action creates its own momentum. I’m newly hopeful that we’re close to a turn and I fear if we get another wave of USD buying, we’re going to see direct central bank intervention. If that’s the case, the safe haven flows are likely to shift into gold. That’s inevitable in any case, it’s just a matter of time because the costs of this are already out of control." LET'S CONNECT! Facebook ► http://facebook.com/forexlive Twitter ► https://twitter.com/ForexLive Forexlive Homepage ► http://www.forexlive.com/ |
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Tudor Conciu
2020-03-20 at 13:24 (UTC 2) Link to this comment
Really appreciate these videos Adam……. great insight!
Dan The Man
2020-03-20 at 13:32 (UTC 2) Link to this comment
The central bank is the leak……
Duo Challenge
2020-03-20 at 15:12 (UTC 2) Link to this comment
It seems basically that everytime a central bank shoots a new bullet of measures the market gets more panic because it's like bankers know better than anyone else that thinks are going to get worse, and so we go on in a spiral to the downside
Omid Navid
2020-03-21 at 09:12 (UTC 2) Link to this comment
I think the real question would br
How long this leak can be plunged ?
Asal Mir
2020-04-17 at 22:18 (UTC 2) Link to this comment
Salaam, you trade in forex? Want to talk to you. Possible?
Cok van Gaalen
2020-03-22 at 11:11 (UTC 2) Link to this comment
Dan Lutz
Cok van Gaalen
2020-03-22 at 11:12 (UTC 2) Link to this comment
x 22 report Pill Hard To Swallow, Unsealed Much Will Be Revealed, Watch The News For [RC] – Episode 2127b https://youtu.be/oG38qGiReK4
Cok van Gaalen
2020-03-22 at 11:13 (UTC 2) Link to this comment
https://www.youtube.com/watch?v=1dXmlsHnvLg&t=60s Front Lines #380 – Trust the plan!
Cok van Gaalen
2020-03-22 at 11:14 (UTC 2) Link to this comment
Amazing Polly we are all being played https://youtu.be/RSfP8sXtMbk
Cok van Gaalen
2020-03-22 at 11:55 (UTC 2) Link to this comment
With toiletpaper???