Fed goes all in

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.

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.