Yesterday was a day marked by the growing doubts that arose regarding the exact number of cases affected by the coronavirus. The day started confidently, with the notion that the number had fallen, however the day ended with doubt about those same numbers.
Consequently, after this news, the main world stock exchanges started to fall and the day closed on negative ground. In particular, the European benchmark index, Stoxx 600, fell from a historical high to a reduction of 0.86%. Then in the United States, the S&P 500 fell by 0.27%, while the Nasdaq dropped by 0.67%.
In the debt market, interest rates in the major Eurozone countries fell because of the increased demand for more secure assets.
The European currency ended up falling, having depreciated by 0.04% yesterday. On a day of greater risk aversion, the American currency continues to be seen as a safe heaven. In addition, the robust data that has been flowing into the American economy may also provide investors with confidence in having assets that are denominated in Dollars.
Crude oil, in turn, ended up appreciating by 0.81% as it benefited from the first half of the day when the less good news about the coronavirus had not yet appeared. However, what contributed to the increase in the price of the barrel was the expectations that demand would not be so affected by the negative consequences of the coronavirus. Further, on the supply side, it is estimated that there may be a possible reduction.
Gold, on a day marked by greater demand for more secure assets, ended up appreciating by 0.61%.
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.