Month: February 2020

Global markets were broadly lower on Tuesday, February 24, after a slew of new cases of coronavirus was announced around the world

European Union ministers are meeting in Brussels to sign their negotiating mandate for the trade talks with the UK.

U.S. stock prices plunged dramatically on Monday as the number of coronavirus cases outside of China spiked, raising concerns that further global economic problems are yet to come. The Dow Jones Industrial Average ended Monday down 3.56 percent, shedding 1,031.61 points, it’s worst decline in two years. During yesterday’s trading […]

Concerns that the Coronavirus is spreading hard and fast beyond the borders of China have pushed FX traders to the safe haven US Dollar, with the Australian Dollar and the Euro losing favor. Over the weekend, Italy, Iran and South Korea all reported new Coronavirus cases, with more than 150 […]

The German business sentiment index went up in February from the previous month’s 95.9 to 96.1, going against the analyst’s expectations who foresaw that the index was going to fall to 95.3. The report, released by the IFO research Institute, also states that the Current Economic Assessment was at 98.9 […]

Gold prices surged higher on Monday afternoon in Asia as global health officials confirmed a wider global reach of the coronavirus that had recently been thought to be contained mostly in Asia. Gold futures were up 0.94 percent as of 1:57 p.m. HK/SIN, to $1,664.20 per ounce after hitting seven-year […]

The Japanese Yen is on track to record its worst week in more than two years as concerns over the Coronavirus sent FX traders to the US Dollar as a safe haven asset. The Yen is also coming under sell pressure as a result of the latest economic data, which […]

The US Dollar gaining broad strength helped to send the Japanese Yen to a 10-month trough during London trade on Thursday. News from Japan that the economy is in recession is also keeping the currency under pressure, as is a general improvement in global risk appetite. Earlier in the week, […]

The Japanese Cabinet Office recently released its monthly economic assessment. In the report, they claim that the economy was recovering at a moderate pace. “An increased weakness centered on manufacturers remains intact amid continued softness in exports,” they stated in their report, adding that the virus outbreak is the biggest […]

Despite continued optimism about the containment of the coronavirus and a decreasing number of new daily diagnoses, gold prices rallied further on Wednesday and hovered near 7-year highs. Gold futures were up 0.012 percent as of 2:09 p.m. HK/SIN, to $1,612 per ounce. If prices close above $1,606.20 per ounce, […]