Forex Today: NASDAQ Index Makes New Record High

Adam Lemon

Stocks and risky assets continue to advance despite coronavirus pandemic

  1. Gold and Silver are strong. Gold looks likely to move higher if it can end the day above $1800; the same for Silver if it can break the strong resistance at $19.
  2. Stock markets are mostly trading higher after a positive end to last week, with the Japanese Nikkei 225 Index up this session by 2.05%. The technology sector is performing very strongly, with the NASDAQ 100 Index closing at a new high Friday boosted by the continuing strong performance of companies such as Amazon and Netflix.
  3. Forex markets have seen risky currencies continue to gain at the expense of safe havens, with the Euro strong, while the Japanese Yen is currently the weakest currency. The U.S. Dollar is in a confirmed long-term downwards trend after making a technical “death cross” last week.

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  1. Friday saw a record-high number of daily total new coronavirus confirmed cases globally at 236,918. The disease is still spreading exponentially.
  2. Some countries that initially appeared to successfully suppress the coronavirus, such as Australia and Israel, as well as several U.S. states, have re-imposed closure restrictions.
  3. Coronavirus deaths in Latin America and the Caribbean are 49% of the global daily total, well exceeding those in both the U.S.A. (12%) and Europe (approx. 10%) which shows that the epicenter of the pandemic is well established in Latin America.
  4. Total confirmed new coronavirus cases stand at over 12.9 million with an average case fatality rate of 4.41%.
  5. The number of new coronavirus cases is rising strongly in India, which has now overtaken Russia to stand at third place globally with over 878,000 total confirmed cases.
  6. The U.S.A. has seen several consecutive days of record-high numbers of new cases, with the last day confirming more than 69,000.
  7. Brazil continues to see more daily deaths from coronavirus than any other country in the world.
  8. The rate of new coronavirus infections appears to be now increasing most quickly in the United States, Albania, Argentina, Armenia, Australia, Azerbaijan, Bahrain, Bolivia, Brazil, Bulgaria, Colombia, Costa Rica, Ivory Coast, Croatia, Dominican Republic, Ecuador, El Salvador, Ethiopia, Greece, Guatemala, India, Indonesia, Iraq, Israel, Japan, Kenya, Kosovo, Lebanon, Luxembourg, Mexico, Moldova, Montenegro, North Macedonia, Oman, Paraguay, Portugal, Romania, Senegal, Serbia, South Africa, Sri Lanka, and Venezuela.  
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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