Enormous volatility in financial markets continues but not only leading to relentless falls as seen during the previous week. Stocks and credit rebounded as huge programmes of monetary and fiscal stimulus were announced.

The dollar was hit again following another sharp increase in COVID-19 cases in the US and worrisome labour market data.

The US dollar eased back against its major peers again, falling to its lowest level in a week against the euro. While US initial jobless claims are expected to show a massive increase when data is released this afternoon.

The Trump administration and US Senators agreed a massive stimulus package to to allay the impact of the COVID-19 virus on the US economy.

An unprecedented stimulus announcement from the Federal Reserve halted the dollar rally in its tracks. While the comprehensive package should help support equities and drive down treasury yields, it has allayed fears of a dollar funding crisis in the market.

Euro Area and UK PMI data provided the first insight into the impact of the coronavirus containment measures.

The coronavirus pandemic continues to wreak havoc on financial markets worldwide. Oil dependent countries were the worst hit but every major currency has been affected.

In order to preserve the security of its employees and continue to provide high quality financial services to its customers, all of Ebury’s offices and operations have moved to remote working.