Apr 03 2020 0
After some time dealing with the outbreak, countries in the world are now ready to shift their focus to other matters as well. Therefore, let's catch up with the latest updates and find for yourself the most suitable forex trading strategies.
The million mark
The new strain of coronavirus has now infected one million people worldwide, a milestone achieved just four months after the pathogen first appeared in China's Wuhan city. More than 51,000 people have died and 208,000 people have recovered during the largest global public health crisis of our time. The highly contagious virus has quickly overshadowed all recent outbreaks in terms of scale and scale, with less than 20 countries in the world still reporting no cases. But, with some people with the virus showing little signs of external illness and many countries unable or unwilling to conduct a wider test, the global number of viral infections is actually more likely. - some people claim that much higher - over 1 million.
The United States currently has the most officially recorded case with more than 234,000 cases, according to Johns Hopkins University. Next is Italy, which also has the highest number of deaths with nearly 14,000 virus deaths, followed by Spain. Meanwhile, China yesterday denied the US Intelligence Agency's statement that it had concealed the number of its virus infections to lower its spread. In India, the situation is starting to get terrible: The number of cases is likely to increase as thousands of health officials scramble to identify people involved in at least 10 viral hotspots across the country. second most populous in the world, which is caused by a virus testing kit. And another test-related failure: The highly anticipated 5-minute test kit can actually give inaccurate results.
Helping the market
Asian stocks were poised to open higher after a volatile session in the US, with news of oil producers being well supported after President Donald Trump said that Russia and Saudi Arabia would cut production. export. The S&P 500 closed near the session high - up 2.3%. Energy stocks were among the best performers, while non-essential consumer goods fell after reporting unemployment doubled from last week to 6.6 million. The futures market in Japan and Australia has increased. Treasury bonds plunged amid a series of corporate bond supplies. West Texas crude rose 22%, although the increase was eased as officials from both sides lowered their expectations. The dollar strengthened; and the yen and the euro weakened.
Big tweet
President Donald Trump said that he brokered a deal that would cause Saudi Arabia and Russia to significantly reduce their oil production, causing prices to skyrocket. But this statement was immediately skeptical. Trump - who has been working on the phone for the past two days after oil prices plunged to near a 20-year low - tweeted that he expects Saudi Arabia and Russia to cut production by 15 million barrels. And although Mr. Trump did not say that the cuts would take place every day, the market claimed to be. Shortly after the tweet, Saudi Arabia said it called for an emergency meeting of the OPEC + Alliance including Russia to discuss a "fair deal", signaling that they would only cut production if those other do so. However, some argue that there is widespread internal confusion about Mr. Trump's ideas through the tweet and the figures he posted may not be reliable.
What a deal!
Another active investor bought SoftBank's stake, betting on a recent stock slump that made it such a bargain too difficult to ignore. Chief Executive Joe Bauernfreund said Asset Value Investors, a US money manager known for campaigns operating in smaller Japanese companies, invested about 5 billion yen (46.6 billion) (46.6 million dollars) into Masayoshi Son company. That happened after Elliott Management made a big position and called on SoftBank to buy back shares.
SoftBank was sucked into the coronavirus sell-off, losing more than half its value from its peak in mid-February before the decline weakened. The reversal came when Son's founder decided to do what investors had been urging for years - selling shares to return shareholders and pay debt. Bauernfreund said in an interview: "It is very, very cheap. Stocks are traded at a large discount to the value of its assets. And above all, the handling and acquisition of assets as planned. will accumulate massively into net asset value."
