What news on 27 Feb?

[Gandalf]

Hi Traders,

does anyone know what news caused the spike in XAGUSD price (please refer to attached graph) on 27 February 2019. Thanks for your help.

[Finbinfin]

Maybe just a response to the previous day's sell - off? 

[Gandalf]

8 hours ago, Finbinfin said:

Maybe just a response to the previous day's sell - off? 

I have found the reason for the spike. CME was facing technical difficulties and trading was halted for few hours. Thanks for your reply.

[Guest]

6 hours ago, Gandalf said:

I have found the reason for the spike. CME was facing technical difficulties and trading was halted for few hours. Thanks for your reply.

Hi Gandalf, welcome to the forum,

"Technical difficulties" is the official line. What really happened was they closed the exchanges briefly to prevent an Algo run/flash crash as soon as India and Pakistan started shooting down each other's fighter aircraft on the 27th. 

[Gandalf]

Thank @RichRock, didn't know that India/Pakistan problem can affect CME function. Thanks for the info and have a nice day!