Another bearish day for stocks


US stock futures hit the limit down on late Sunday again as the US congress failed to approve the massive financial aid.

Apparently, Democrats "need more time to think about it." The new vote is scheduled for today, some 15 mins after US markets open for trading. The financial aid could go into trillions, with nearly all industries asking for a bailout. Additionally, US people will get a check of 3,000 USD per family, as a part of this virus package. 


US equity futures were trading 2-3% lower during the London session on Monday, with EU benchmarks easing slightly as well. But as many EU countries banned short-selling, the worst might be over for now for EU indices.

Meanwhile, for the first time in history, the Reserve Bank of New Zealand started its Quantitative Easing program. Individually, the RBNZ will purchase up to 30 billion USD of New Zealand government bonds, across a range of maturities, in the secondary market over the next 12 months, and the program "aims to provide further support to the economy, build confidence, and keep interest rates on government bonds low." The NZDUSD pair failed to react in a volatile way but was trading weaker on Monday.


In the commodities land, oil was seen lower again today, with the WTI benchmark down 5% and trading at around 22.20 USD, but still above last week's lows. Gold and silver fell mildly today and were 0.5% weaker so far. Copped plunged 4%.


The US dollar was once again dominating, and the EURUSD pair was still below 1.07, while the GBPUSD pair declined further toward the 1.15 mark.

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