Jul 27 2020 0
There are some noticeable movements in the world that a forex trader should not miss. Check out these news quickly to find a suitable forex trading strategy.
Slow down in US
Reported cases and deaths have decreased in many states severely affected by coronavirus, including Florida, Arizona, California, Texas and New York. Former FDA commissioner Scott Gottlieb said he saw "unmistakable signs", that the pandemic is slowing down in Texas and Arizona, but less certain about California and Florida. US coronavirus infections have increased by 65,965 among the latest daily infections, up 1.6% from an average of 1.8% in the previous 7 days. The number of deaths increased by 921, interrupting the 4-day chain with more than 1,000 deaths each day.
Spain is struggling to cope with a new virus outbreak, prompting the United States to impose quarantine on returning travelers, inflicting a new blow on a tourism-dependent economy like Spain. Reports of UK deaths are being paused to assess the method of implementation. Australia's Victoria has reported daily peaks in viral deaths and an increase in other infections. North Korean leader Kim Jong Un ordered the blockade of a city near the border with South Korea after officials discovered a person could be infected with the virus, state media reported.
Asian stocks are likely to have a mixed start as investors weigh tensions between the United States and China as well as signs of a slowdown in the speed of virus spread in the United States. The yen appreciated. The S&P 500 futures futures had a firmer start on Monday when benchmarks finished last week with a decline. The futures market was higher in Hong Kong and lower in Australia. Japanese stocks prepare for a bearish start after 2 holidays. The Australian Dollar (AUD) has depreciated as data on the virus situation in the country over the weekend added to the concerns. Oil changes little. Gold trades above $1900 per ounce. This week, investors will be watching the Federal Reserve meeting to look for clues about what happens next for the policy amid expectations of further adjustments. However, policy makers are not expected to adopt strategic changes at their July 28-29 meeting, even if they assess how the outlook has changed. That happened when the debate continued in Washington over a stimulus bill.
Billionaire investor Ray Dalio said the conflict between the United States and China could widen into a "capital war" that he said would hurt the dollar. Founder Bridgewater Associates has set a scenario for the next clash between the two countries, based on measures he says are within capabilities. He also warned that loose fiscal policy and ideological divisions are pushing the US dollar down. The dollar has fallen against all major currencies tracked by Bloomberg for the past three months.
SK Bioscience, a Korean pharmaceutical company backed by Bill Gates, could potentially produce 200 million coronavirus vaccine kits by June, Microsoft co-founder said in a letter to the General. Korean system Moon Jae-in. Quoting from the July 20 letter, the presidential office in Seoul on Sunday said Bill Gates was seeking close cooperation with South Korea. The Green House said the US billionaire and Mr. Moon spoke on the phone in April about working together to fight viruses and develop vaccines. Bill Gates said that investing in factories around the world can ensure that areas outside the United States won't be left behind in the Covid-19 vaccine fever.
Transportation not ready
The shipping industry around the world via ships, airplanes and trucks acknowledges that they are not ready to handle the challenges of shipping the last Covid-19 vaccine from home. produce medicine for billions of people. With so much pressure from the pandemic, freight companies have faced problems ranging from shrinking container ships and cargo planes to not knowing when the vaccine will show up.
The carriers have struggled for years to reduce the cumbersome paperwork and upgrade of old technology, but if not resolved early, this will delay the relay race to transport the bottles. fragile in unprecedented bulk. The rapid development of vaccines is difficult enough, now delivering them worldwide brings other variables, and conflicting forces can be a barrier to transport efforts: infrastructure. Energy supply to the global economy is shrinking due to the prolonged recession, at a time when pharmaceutical companies need to scale up the largest product launch in modern history.