Apr 27 2020 0
At the beginning of th week, we take a look at the hottest events in the financial world right now. Here are all the latest news that can affect the market greatly. Check them out so that you can know what forex trading strategies to apply today.
Asian hotspot
While some coronavirus-infected countries are considering easing the blockade, Singapore - one of Asia's smallest countries - currently has the highest number of infections in the region, after only the two most populous countries. world. The island nation reported 931 new infections yesterday, bringing the total number of cases to over 13,000, surpassing Japan. In Asia, only China and India have more cases. The majority of infections are among migrant workers living in areas close to each other in dormitories.
Meanwhile, coronavirus infections in the United States increased by 3.3% - below the average increase in a week. Italy will reduce its blockade order on May 4 after reporting the lowest number of deaths since mid-March. The death rate in the United States and New York is the lowest in more than 3 weeks. Spain and France have also reported deaths for at least more than a month when both countries are planning to reopen their economies. New York Governor Andrew Cuomo outlined a period of reopening, starting with construction and production shortly after May 15. Bill Gates transferred his charity money to research into coronavirus vaccines.
Open the market
The currency market stabilized early Monday amid positive signs that appeared in the battle against coronavirus and as traders awaited an important Bank of Japan policy meeting. The Australian dollar has erased the initial small losses and the move of other currencies on the forex market was quiet. Asian futures markets climbed higher after a rally on the US stock market on Friday. The Federal Reserve will join the BOJ and the European Central Bank in announcing policy decisions this week. Some major economies will also release GDP data. Meanwhile, earnings reports continue, from Amazon.com to Barclays and Samsung Electronics.
Put on hold
Listed companies in China and Hong Kong have agreed on the best way to survive during this epidemic of instability: it is by keeping profits instead of distributing them to shareholders. In the first quarter, the majority of people paying dividends in Hong Kong for at least 35 years are following this path. Meanwhile, although the stock value has recently reached historic lows in the city, companies have not accelerated their acquisition of shares. Instead, sales of additional shares reached near the highest level since 2018. This data partly helped illustrate how the pandemic has hurt the Chinese economy from such businesses, starting from 2020 with the first quarterly decline in decades.
Mystery of Kim Jong Un
The report of a Chinese medical team visit led to speculation about Kim Jong Un's health at the weekend, when it was unverified. However, a famous South Korean adviser has dismissed the idea that Kim is ill or has passed away. China has sent a team of doctors and senior diplomats to advise its long-time neighbor and ally. Kim's sister, meanwhile, is emerging as a potential successor to the North Korean leader.
Monitoring staff’s health
When the coronavirus pandemic just started to break out in New York, the world's largest banks were busy designing logistics to eventually bring employees back to almost empty buildings. Inside Citigroup's headquarters in Manhattan, executives are trying to solve the difficult problem on Wall Street: How to get employees on the elevator.
Citigroup, Goldman Sachs and JPMorgan are all trying to figure out how to reorganize their corridors and elevators to prevent maximum contamination. JPMorgan can place flight attendants outside the elevator to assist with push button operation, so employees have less to touch the buttons. Goldman is again exploring ways to open doors without contact, using towels to touch the handle and then throwing it away. In general, major banks are playing an active role in monitoring employee health. Wall Street banks are facing a series of challenges, such as Citigroup employees warning that they will return to work at a slow pace, slowly without a set date. Some employees may even work from home for the rest of the year.
