Sep 10 2020 0
Today forex news has brought us many trading opportunities. Let's check out the latest events around the world to find such opportunities.
Trump “play it down”
President Donald Trump has justified to a journalist that he has deliberately downplayed the severity of coronavirus in public. “I wanted to always play it down… I still like playing it down, because I don’t want to create a panic.” Mr Trump told Bob Woodward, author and editorial associate for the Washington Post, on March 19 in a series of interviews for his book, "Rage" to be published this month.
Mr. Trump asserted he was right to keep his concerns about the virus private. Meanwhile, Joe Biden argues that the president must be responsible for the deaths of tens of thousands of Americans for failing to adequately warn about the dangers of coronavirus.
Asian stocks ready to rally after US stocks rebounded after 3 days of decline, investors turned back to technology stocks and helped the Nasdaq 100 index have its best day since April. The dollar fell. Futures markets increased in Japan, Hong Kong and Australia. The S&P 500 rose the most since June, though it closed below its intraday high. The Nasdaq's gain follows an 11% slide that has brought it down to its 50-day average. Tesla bounced off the prices formed after its biggest sell-off, while shares in hardware and computer chip makers rose. Treasury bonds fell, while the pound headed for the longest streak since March on fears that negotiations could collapse over changes to the Brexit withdrawal deal. In another development, Brent crude rose above $ 40 / barrel in London. Gold rose.
Two months after China's fastest stock price rally in years, the easy money-making period is coming to an end. Foreign investors sold off Chinese shares for the first time in five months in August, and the sell-off has increased rapidly this month. The tech-oriented ChiNext index has broken a pair of technical thresholds in existence since July. Those factors, combined with concerns about a sell-off in the US market, sent the CSI 300 Index down by 5.5% since it hit a 5-year high almost two months ago. The ChiNext benchmark, which beats major global metrics this year, has given up on a third of its profits, largely due to investor concerns that a new set of listings will shrink the bar. out of existing stock at an inflated valuation.
Worrying about jobs and the economy puts Australian households off their cash, either in bank accounts or simply with money left at home, and this will hinder recovery. economy. A Westbank survey on Wednesday found that nearly one in three households consider bank deposits the wisest place to keep their savings - with a 6 percentage point increase in a year and outstripping options. choose more risk like stocks and assets or just spend.
Meanwhile, the total value of the Aussie 100 note - Australia's largest banknote - in circulation in August rose 14.1% from a year earlier, the fastest pace in 29 years. What is missing to unlock a household vault and drive a consumption-based recovery may be public confidence. While sentiment has shown some improvement, worrying about job security in an increasingly unemployed environment may keep this cash idle.