Powell says "more" likely needs to be done. ECB press conference begins.
Erik
April 30th, 2020

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SUMMARY
- Fed keeps interest rates/asset purchases on hold, but concedes “more” likely needs to be done by Fed or Congress.
- Trump threatens retaliation against China for handling of coronavirus; leads to broad USD bid during 8pmET hour.
- Traders largely ignore China’s April Manufacturing PMI, 50.8 vs 51.0 expected vs 52.0 in March.
- ECB keeps rates on hold, relaxes TLTRO III terms, creates new PELTRO, but doesn’t increase PEPP and APP purchases.
- Christine Lagarde’s press conference, US Jobless Claims and Canadian GDP (February) on deck at 8:30amET.
- Large AUDUSD and USDJPY option expiries on deck for 10amET. Europe closed for May Day holiday tomorrow.