World Countries Fight Outbreaks of Coronavirus

During yesterday's trading session, the US dollar rose slightly against a basket of major currencies. The dollar index (#DX) closed in the green zone (+0.11%). Investors are still focused on the outbreak of coronavirus. So, US President Donald Trump decided to take drastic measures to prevent the spread of COVID-19 and announced a 30-day ban on trips to the US from Europe. This ban will apply to the countries of the Schengen area, this won’t affect the UK and Ireland. The prohibition does not apply to the transport of goods.

In turn, Australia reported incentive measures for $11.4 billion, which include subsidies for earnings and cash payments to small businesses. Despite this, the Australian dollar continued to decline due to growing concerns about the recession.

The Italian government has announced that mortgage payments will be suspended to soften the imposition of nationwide restrictions. Italy aims to help companies and families survive complete isolation. The country further isolated social activity, ordering the termination of work of such institutions as hairdressers, bars, restaurants and cinemas. The government is spending billions of euros trying to stop the outbreak of coronavirus.

The "black gold" prices continued to fall. Currently, futures for the WTI crude oil are testing the $30.65 per barrel mark.

Market indicators

Yesterday, prices remained unchanged in the US stock market: #SPY (+0.00%), #DIA (+0.00%), #QQQ (+0.00%).

The 10-year US government bonds yield declined slightly. At the moment, the indicator is at the level of 0.69-0.70%.

The news feed on 2020.03.12:
  • - Initial jobless claims in the US at 14:30 (GMT+2:00);
  • - ECB interest rate decision at 14:45 (GMT+2:00).

by JustForex, 2020.03.12

We advise you to get acquainted with the daily forecasts for the major currency pairs.

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.

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