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Fed goes all in

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From limit-down into the green

US futures are bouncing back strongly after the Fed went all in on Monday, announcing unlimited, open-ended QE among numerous other measures to support the economy and markets.

We’ve gone from limit-down into the green and could soon be limit-up, all before the opening bell on Wall Street. Safe to say, the chaos of the last few weeks is going nowhere and the way this week has started, it could feasibly be the most remarkable week of the lot.

There’s no doubting that the Fed is doing everything within its power to see the economy through this period of unbelievable turmoil. The coronavirus has wreaked havoc global and ground the economy to a halt forcing drastic action from the fiscal and monetary authorities. It’s time for Congress to get its act together as well.

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Craig Erlam

Craig Erlam

Former Senior Market Analyst, UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary.

His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News.

Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
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