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Fed's Rosengren: We expect the unemployment rate to rise dramatically

"Today, we're witnessing the pandemic's stark effects on public health," Boston Federal Reserve Bank President Eric Rosengren said in his prepared remarks on Wednesday, per Reuters. "Meanwhile, the necessary response – social distancing –  has stilled our strong economy, disrupting countless lives and livelihoods." 

"We must continue to adapt as the crisis proceeds," Rosengren added. "Unfortunately, we expect the unemployment rate to rise dramatically."

Risk aversion

As of writing, the Dow Jones Industrial Average and the S&P 600 were both down around 3.5% on the day while the Nasdaq Composite was erasing 3.3%.

USD/CAD bulls have eyes set on higher highs, supported by market volatility

Markets hate uncertainty and volatility is here to stay, The US dollar is outperforming its G10 counterparts and the CAD is taking the brunt, weakenin
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EUR/USD hits fresh six-day lows, holds above 1.0900

The EUR/USD fell to 1.0900, hitting the lowest level since last Thursday. Afterwards, it rebounded rising back to the 1.0945/1.0915 range. Near the en
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