Most currencies advancing against USD
- Markets open quietly with the U.S. Dollar weak almost everywhere and stock markets trading sideways or down a little from Friday’s generally bearish closes.
- The Australian Dollar has gained more than any other major currency against the U.S. Dollar since this week opened.
- Technically, it still appears the recent U.S. stock market selloff was a natural correction and not a significant trend change. It seems somewhat likely the recovery will eventually continue.
- The U.S. Dollar is in a long-term bearish trend established following June’s “death cross” in the USD Index.
- Coronavirus daily global death tolls have been falling slightly for almost 2 months, with deaths in Latin America and the Caribbean at 41% of the global daily total, well exceeding those in both the U.S.A. (14%) and Europe (approx. 6%) which shows that the epicenter of the pandemic is well established in Latin America. However, the number of new cases has been rising quite strongly in the European Union and the U.K. with the latter introducing new restrictions aimed at curbing the spread.
- Total confirmed new coronavirus cases stand at over 30.9 million with an average case fatality rate of 3.10%. Global mortality over recent weeks is lower than it was during the first peak in April.
- India has more than 5.4 million confirmed coronavirus cases, more than any other nation except the U.S.A. India is now seeing more new deaths daily than any other country at over 1,200 at the last daily report.
- The rate of new coronavirus infections appears to now be increasing most quickly in Argentina, Armenia, Austria, Bahrain, Belarus, Belgium, Bosnia, Brazil, Burma, Canada, Costa Rica, Croatia, Cuba, Czech Republic, Denmark, Dominican Republic, Ecuador, Estonia, Georgia, Germany, Greece, Hungary, Indonesia, Iran, Ireland, Israel, Italy, Jamaica, Jordan, Lithuania, Luxembourg, Malta, Moldova, Montenegro, Morocco, Nepal, Netherlands, North Macedonia, Paraguay, Poland, Portugal, Romania, Russia, Slovakia, Slovenia, Trinidad, U.A.E., Ukraine, the U.K., the U.S.A., and Uzbekistan.