Forex Today: U.S. Stocks Hit Record High

• The major U.S. stock index, the S&P 500, closed yesterday at a new all-time high for the first time since its unprecedentedly sharp crash in February and March, albeit on low volatility and volume. The Index is now up by 54% from its March low. The U.S. stock market has never fallen and recovered so far, so quickly. New all-time highs tend to represent good buying opportunities in stocks.
• The NASDAQ 100 technology index has been making new record highs since June and is up by 72% from its March low.
• The U.S. Dollar is selling off firmly again, in line with the long-term bearish trend established over recent weeks following last month’s “death cross” in the USDX.
• The EUR/USD and GBP/USD currency pairs rose strongly yesterday to close at new long-term highs, suggesting even higher prices are likely over the coming days.
• Markets are currently active and trending, giving good trading opportunities for retail traders, despite August usually being a relatively quiet month.

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• Coronavirus global death tolls are showing signs of starting to fall, with deaths in Latin America and the Caribbean at 43% of the global daily total, well exceeding those in both the U.S.A. (18%) and Europe (approx. 5%) which shows that the epicenter of the pandemic is well established in Latin America. Deaths in the U.S.A. have stabilized over the past three weeks, and the number of new cases daily has fallen.
• Total confirmed new coronavirus cases stand at over 22.1 million with an average case fatality rate of 3.53%. The number of daily new cases has still not exceeded the all-time high made on 31^st July. Global mortality over recent weeks is lower than it was during the first peak in April.
• Brazil has overtaken the U.S.A. as the country with the highest number of new daily coronavirus deaths.
• The rate of new coronavirus infections appears to now be increasing most quickly in Austria, the Bahamas, Belize, Brazil, Colombia, Costa Rica, Croatia, Ethiopia, France, Germany, Greece, India, Indonesia, Iraq, Jordan, Lebanon, Morocco, Nepal, Paraguay, Peru, Philippines, Poland, Slovakia, Slovenia, South Korea, Spain, Sudan, Sweden, Trinidad, Tunisia, Ukraine, and Venezuela.