Border crackdown prompts fresh limit down -...>

FOREX: Border crackdown prompts fresh limit down

- The global equity rout extended further Thursday, with US equity futures

diving on President Trump's address to the nation late yesterday. The

President's decision to ban all foreign visitors with a travel history in

Europe's Schengen area - an effective shutdown of all flights from mainland

Europe - has been seen as a rash and ineffective policy for dealing with the

already-present virus outbreak in the States. As a result, most US equity index

futures have already struck their limit down (-5% from yesterday's close)

levels, prepping markets for another painful open.

- Risk appetite had a very brief reprieve as Bloomberg reported that the Bank of

Japan are likely to strengthen stimulus measures at their meeting next week, but

USD/JPY holds firmly in negative territory.

- US PPI data and weekly jobless claims are the sole data releases, leaving all

the attention on the ECB rate decision and press conference. Lagarde and the

board are expected to outline considerable ECB action today and install fresh

measures to ensure ample, cheap liquidity.