The United States, Safe-haven Yen, Nigeria, and South Korea

The United States, Safe-haven Yen, Nigeria, and South Korea

On Thursday, the major United States indices fell over 4% and 10% from highs. Thus, the stock market sell-off has worsened. As a bear market and global recession risks are rising, other markets follow that trend.

With the first case in Nigeria, the disease has spread to sub-Saharan Africa. The United States is ramping up testing, South Korean affairs top 2,000. Japan is closing schools. Nevertheless, the United States President Donald Trump has praised America’s dealing with the virus. The number of common infections has topped 83,000. More and more companies have published forecasters, and a warning is updating their projections for 2020. The WHO (World Health Organization) has said that the outbreak is on a “decisive stage.” The World Health Organization might soon declare Covid-19 as a pandemic.

The United States

With USD/JPY falling below 109, the safe-haven yen has been gaining ground. Below 1.24%, the United States’ ten-year yields have reached new record lows. Gold could not capitalize on the recent market slump and is now trading below $1.630.

As falling United States yields weigh on the dollar, the EUR/USD is trading around 1.10. Olaf Scholz is Germany’s finance minister. He had efforts to introduce a fiscal stimulus, which buoyed the euro. Christine Lagarde, the European Central Bank’s President says that She doesn’t see the need for imminent monetary stimulus in the wake of the crisis.

As Prime Minister Boris Johnson has laid down a tough stance ahead of post-Brexit talks that kick off on Monday, the GBP/USD has been struggling around 1.29. If not, enough progress is made, the United Kingdom threatens to walk away by June. Mark Carney is the outgoing Governor of the Bank of England. He said that economic growth would most probably downgrade in the United Kingdom.

It is the leading news of today in the market. Let’s hope that the situation will get better.

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