The US Dollar couldn’t hold onto the positive momentum as FX traders fear that the US Federal Reserve Bank will need to lower interest rates in an effort to counterbalance the impact of the Coronavirus spread. Money markets are pricing in at least three rate cuts by this time next […]
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Yellen: Coronavirus Could Throw America into a Recession – 27 February 2020
The former Federal Reserve chairwoman Janet Yellen said during an event in Michigan that the coronavirus epidemic could throw the American economy into a recession. “We could see a significant impact on Europe, which has been weak to start with,” she said, “and it’s just conceivable that it could throw […]
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Coronavirus Forex Updates: February 27, 2020 – 27 February 2020
Updated on February 27, 2020 The Dow Jones Industrial Average looks poised to fall some 450 points on Thursday after the U.S. Center for Disease Control (CDC) announced the first diagnosis of coronavirus in a patient that has not traveled recently. The Dow dropped more than 100 points on Wednesday, […]
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Oil Prices Down for Fifth Straight Day – 27 February 2020
Oil prices headed lower for the fifth consecutive day as increased concerns about the coronavirus prompted traders to doubt global demand. U.S. WTI futures sunk 1.52 percent as of 2:18 p.m. HK/SIN, and Brent crude futures were down 1.38 percent. Brent prices 11 percent in the past five trading sessions, […]