The United States dollar is extending its gradual recovery. Thus, against majors, it gained. Meanwhile, on Monday, the United States indexes rallied. Therefore, stock futures are leaning lower.
The United States coronavirus cases are rising and have topped 160,000. The United States President Donald Trump extended the guidance for social distancing through April. He said that seeing fewer than 100,000 fatalities will be an achievement. Thus, additional states announced lockdowns. The epicenter of the disease is New York, and the city remains in high interest.
The WHO (World Health Organization) said that coronavirus might peak in Europe. The number of new cases in Spain and Italy is stabilizing and providing hope. Italy is grappling with growing poverty in the south, and Spain is under more severe lockdown measures. Moreover, for February, Eurozone Consumer Price Index is forecasted to rise by a slower rate. Nevertheless, markets are focused on the statistics of COVID-19.
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The United Kingdom and Dollar
In the United Kingdom Deaths still are rising. The United Kingdom changed its counting method. Boris Johnson, Prime minister of the United Kingdom, is under pressure for increasing the pace of tests. Final GDP (gross domestic product) figures for the fourth quarter are due out.
Chinese Purchasing Manager’s Indexes came out above expectations. The Manufacturing PMI is at 52 in March. Moreover, the Non-Manufacturing at 52.3. Reflecting contraction – both figures were projected to remain below 50.
Amid the health crisis, the United States Conference Board’s Consumer Confidence gauge for March forecasts for collapsing. It is tumbling from the high level of 130.7 recorded in February.
Today, end-of-quarter flows are set to rock markets and make cause jitters. Moreover, it is probably around the end of the European session.
On Monday, there was another sell-off of oil prices. After that, oil prices attempt to recover. Recovering from a dip below $20, WTI is trading around $21.
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