Yesterday, February 10th, was once again marked by fears related to the coronavirus.
On a day when the World Health Organization (WHO) said that the number of cases is expected to increase in the near future, the main European stock exchanges had a mixed performance throughout yesterday. In particular, the main European index - Stoxx 600 - ended the day with a slight increase of 0.07%. In the debt market, most yields in European countries fell, reflecting the increased demand for these more secured assets.
Insecurity regarding the future impact of the virus, leads investors to look for more secure assets such as the US dollar and as a consequence of this we see a fall in the value of the euro against the dollar.
Furthermore, crude oil ended up closing yesterday's session falling. Rumors that the countries of Organization of Petroleum Exporting Countries (OPEC) and Russia cannot meet in the near future in order to reduce the existing oil supply, eventually pressured the price of oil. However, while we wait for this meeting, the uncertainty regarding the virus may continue to contribute to a drop in demand.
Gold, as a safe haven asset, ended up being sought after by investors. The yellow metal then rose over the course of the day where, once again, the major cause is uncertainty about the coronavirus.
Analysis and opinions provided herein are intended solely for informational and educational purposes and don't represent a recommendation or investment advice by TeleTrade. Indiscriminate reliance on illustrative or informational materials may lead to losses.
© 2000-2021. All rights reserved.
This site is managed by Teletrade D.J. Limited 20599 IBC 2012 (First Floor, First St. Vincent Bank Ltd Building, James Street, Kingstown, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at email@example.com.