Forex Today: Stocks Keep Rising

Adam Lemon

Coronavirus “second waves” fail to halt risk rally

  • The U.S. NASDAQ tech stock index closed at an all-time high price Thursday and looks likely to rise higher still this week.
  • Stock markets are trading higher since the weekly open, with the Japanese Nikkei 225 Index up by more than 1.65%.
  • In Forex markets, risk sentiment has continued to improve somewhat, with the Euro strong, while the U.S. Dollar is currently the weakest currency.
  • Friday saw the highest number yet of daily total new coronavirus confirmed cases globally at 210,467.
  • Some countries that initially appeared to effectively suppress the coronavirus, such as Australia and Israel, are re-imposing restrictions, while a partial lockdown is also implemented in Spain.
  • Coronavirus deaths in Latin America and the Caribbean are 51% of the global daily total, well exceeding those in both the U.S.A. (11%) and Europe (approx. 9%) which shows that the epicenter of the pandemic is well established in Latin America.

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  • Total confirmed new coronavirus cases stand at over 11.4 million with an average case fatality rate of 4.67%.
  • 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 now increasing most quickly in the United States, Albania, Algeria, Argentina, Australia, Azerbaijan, Bolivia, Brazil, Bulgaria, Costa Rica, Croatia, the Dominican Republic, Ecuador, El Salvador, Guatemala, India, Indonesia, Iraq, Israel, Japan, Kenya, Mexico, Morocco, Oman, the Philippines, Romania, Senegal, Serbia, South Africa, the U.A.E., and Uzbekistan.   
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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