CADJPY Breakdown (16 March 2020)

Title : CADJPY Breakdown (March 16, 2020)

Broker : Tickmill

Description : CADJPY Daily Outlook – The Fed just announced it will drop interest rates to zero and buy at least $700 billion in government and mortgage-related bonds as part of a wide-ranging emergency action to protect the economy from the impact of the coronavirus outbreak.

While this normally would be huge, early on Monday the US markets actually dropped, which shows Wall Street may calling this a bluff.

On Tuesday, we will continue watching as the Coronavirus and the oil price waw continue to develop.

This week we’ll be eyeing the AUD, GBP, EUR, and CAD to see if they can recover from last week’s heavy losses versus the USD.

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