Jul 08 2020 0
Today we look at the most important events around the world that can impact the market heavily. Check them out to find the best forex trading strategies.
Economic punishment
Some of President Donald Trump's top advisers want the United States to cancel the Hong Kong dollar peg to the U.S. dollar because the government is considering Chinese sanctions options for recent moves to remove rights of the former British colony.
The idea of removing the HKD exchange rate anchor - perhaps by limiting the ability of Hong Kong banks to buy US dollars - has been raised as part of broader discussions among advisers for Secretary of State - Michael Pompeo - and has not yet been raised to the level of the White House, indicating it has not received serious attention. But the proposal faces strong opposition from some in the administration, who fear such a move would only hurt Hong Kong and US banks, not China. On the other hand, the expansion plans of the big Wall Street banks in China may be threatened by new US sanctions related to national security laws in Hong Kong.
Student crisis
Hundreds of thousands of Chinese students enroll in US colleges and universities every year, and right now, many of them are concerned. As schools try to figure out how to begin the fall semester between the coronavirus pandemic, a number of schools - including Harvard University and the University of Southern California - are choosing an online-only approach. And that means foreign students of these schools will have to leave or transfer, according to the new rules issued Monday by U.S. Immigration and Customs Enforcement. By noon on Tuesday, Weibo posts related to the new guidelines gained nearly 55 million views, most of which were angry at President Donald Trump. It's unclear how many of the 370,000 Chinese students in the United States may actually have to leave, but if that number is the majority, then these guidelines could put additional financial strain on schools. American universities, which increasingly rely on foreign students to pay full tuition.
A stop
The rally in the global stock market halted overnight, after a strong start of the week: European stocks fell with US stock futures. The dollar ended the series of declines in 5 days. The Stoxx Europe 600 index fell, pulled down by banking and health care stocks, as data showed that German industrial production rose less than forecast in May, highlighting challenges in the region. just got out of the blockade. The Shanghai Composite Index has climbed for the sixth day in a row, iron ore futures soared and offshore yuan has quickly strengthened above $7/USD - the first time since March. silver rose higher along with most European bonds.
Singapore survives
The pandemic is proving to be the last test for Singapore, which has reinvented itself after the Asian financial crisis and the dotcom bubble - now one of the richest and most competitive economies on the planet. world. As the leaders of the city government grappled with what turned out to be the worst collapse since independence in 1965, the ruling party is seeking to expand its mandate in the election. dispatched on Friday to help reestablish the economy again. They have positioned a post-Covid-19 world with plans to invest in medical and biomedical sciences, climate change and artificial intelligence.
Back to lockdown
Hasty policy decisions, failed enforcement, and cases of public complacency. These are some of the factors blamed for unraveling most of the Covid-19 story spread successfully in Australia, bringing Melbourne to a second lockdown after 4 months.
Australia's second largest city has been responsible for the majority of the country's new Covid-19 infections over the past month - affected by an unprecedented level of community spread. Therefore, from midnight on Wednesday, 5 million residents of the city will have to comply with stay-at-home orders for 6 weeks, showing that the early success in fighting the virus is very fragile.
