• Analytics
  • Market analysis
  • Market Opinions
  • Coronavirus starts to cause damage
Market Overview
19.02.2020, 15:14

Coronavirus starts to cause damage

Yesterday was marked by Apple's announcement which revealed that it will not be able to reach its revenue target for this first quarter due to the negative effects of the coronavirus. In addition, the British bank HSBC also announced that it will reduce its workforce by 15%, also pushing the entire financial sector into negative ground.

With this less positive sentiment, the main European exchanges closed the day on a lower position. In particular, the Stoxx 600 depreciated by 0.38%, while the S&P 500 ended up depreciating by 0.29%, and the technological Nasdaq closed with a slight increase of 0.02%.

In the European debt market, most government bonds fell for much of the day while Greek and Italian interest rates ended up rising.

Regarding the European currency, we can see that the Euro is falling again. This is probably the result of the poor performance related to the economic sentiment indicator in the Euro area and in Germany. This effect can be seen both in the EUR/USD and EUR/GBP pairs.

Crude oil, on the other hand, has been on a decline for much of the day, since feelings about the effects of the coronavirus were negative. Despite lower demand forecasts, yesterday the United States announced that it would sanction the largest Russian oil company, Rosneft, for maintaining relations with a Venezuelan oil company. This could affect supply, which eventually led to an increase in the price of the barrel.

On a day marked by greater risk aversion, we could see gold rising as a consequence. It ended up reaching 2013 highs.

Disclaimer:

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.

© 2000-2020. 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.

AML Website Summary

Risk Disclosure

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.

Privacy Policy

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 pr@teletrade.global.

Feedback
Live Chat E-mail
Up
Choose your language / location