Forex Today: Stocks Fall Sharply on Virus Fears

Adam Lemon

Coronavirus “second wave” fears grow for U.S.

  • Stock markets are falling as several U.S. states report surge in new coronavirus cases after reopening, with some interstate quarantine regulations imposed.
  • Gold made a new 8-year high price yesterday at $1,779 per ounce.
  • Yesterday saw the second-highest daily tally of new confirmed coronavirus cases yet worldwide, following the WHO’s warning that the pandemic shows no sign of slowing and is moving into a potentially more dangerous phase.
  • In Forex, the U.S. Dollar is the strongest major currency, while the British Pound is the weakest right now.
  • Coronavirus deaths in Latin America and the Caribbean are 51% of the global daily total, well exceeding those in both the U.S.A. (12%) and Europe (approx. 11%) which shows that the epicenter of the pandemic is in South America.

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Stock markets are crashing again

  • Total confirmed new coronavirus cases stand at over 9.4 million with an average case fatality rate of 5.12%.
  • The first human trials of a new coronavirus vaccine have begun in the U.K.
  • Brazil continues to see more daily deaths from coronavirus than any other country in the world.
  • The rate of new coronavirus infections appears to be increasing most quickly in Brazil, the U.S.A., India, Mexico, Colombia, Iraq, South Africa, the Philippines, Germany, and Israel.
About the Author
Adam Lemon

Adam Lemon began his role at DailyForex in 2013 when he was brought in as an in-house Chief Analyst. Adam trades Forex, stocks and other instruments in his own account. Adam believes that it is very possible for retail traders/investors to secure a positive return over time provided they limit their risks, follow trends, and persevere through short-term losing streaks – provided only reputable brokerages are used. He has previously worked within financial markets over a 12-year period, including 6 years with Merrill Lynch.
Learn more from Adam in his free lessons at FX Academy

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