FOREX TRADING STRATEGY JUL 6 - THE SOURCE

Jul 06, 2020
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Today we look at the most important news that all forex traders have to know. Based on these news, you can choose the most effective forex trading strategies.

The source of the virus

According to a report in the Sunday Times, the virus samples sent to Wuhan Institute of Virology in 2013 were similar to Covid-19. The paper said scientists sent frozen samples from an old copper mine with a virus-infected bat in southwestern China to Wuhan laboratory after six men working there had pneumonia. heavy. Shi Zhengli, a bat-borne coronavirus specialist at Wuhan Institute of Virology, described Covid-19 as 96.2% identical to the coronavirus model RaTG13 - "almost certainly" a virus found in abandoned mines. 

Covid source

According to the scientists, in the paper, the differences between virus samples can represent the distance of decades of evolution. In May, the director of the Wuhan Virological Institute said there was no copy of the RaTG13 virus sample in the lab, so it would not be leaked. There is no evidence that the laboratory was at the origin of a global outbreak starting in Wuhan. Meanwhile, the World Health Organization reported Saturday virus infections to 212,326 cases and Mexico overtook France with the deadliest outbreak on Thursday.

An economic crisis

Hope for the V-shaped global economic recovery seems to be weakening. The world economy is entering the second half of 2020 and is still under heavy pressure from the coronavirus pandemic. Central banks and governments have pumped trillions of unprecedented support into the world economy, and some measures of manufacturing and retail sales in major economies are showing improvement. But reopening businesses appears to be uncertain even in the most optimistic situation and the risk of job loss has shifted from temporary to permanent. Much of this depends on the spread of coronavirus, a treatment vaccine that has not yet been controlled. The IMF estimates that by the end of this year, 170 countries - nearly 90% of the world - will have lower per capita incomes. Back in January, the IMF predicted 160 countries would end the year with a bigger economy and positive per capita income growth.

Quiet market

Asian stocks are likely to fall slightly on Monday as investors are concerned as the worldwide rise of Covid-19 cases continues. The futures market fell in Tokyo, Hong Kong and Sydney. The US futures market changed little when it reopened after the national holiday. The Australian dollar began recovering losses earlier when Australia introduced stricter measures to keep residents at home in a hot flash. Other currencies are less volatile. Investors are still considering a global stock market that remains above the March bottom around 40% amid economic recovery threatened by the spread of the virus.

A whole generation affected

Generation Z was negatively affected by the global financial crisis a decade ago, a younger generation was burdened with the economic burden of coronavirus. For example, in Australia, the unemployment rate for people aged 15 to 24 has increased to 16.1%, compared to about 5.5% for those over 25. About a quarter of young workers are not eligible. to enjoy Australia's leading salary package. 

unemployment

According to the Resolution Foundation, in the UK, one third of employees 18 to 24 years old, except students, have lost their jobs or were laid off, compared to less than 15% of those aged 35 to 44. The simplification of jobs for Generation Z stems from the recent financial crisis, when many entry-level roles (for new graduates who do not require professional experience) were cut and never reappeared.