Let’s check the Forex market. The Canadian dollar has pressure from falling crude prices. Now, the Canadian dollar faces a test with GDP statistics for January, expected to rise by 0.1%. |
Meanwhile, the United States dollar is extending its gradual recovery. Thus, it gained against major currencies.
Meanwhile, the United States indexes rallied on Monday. Therefore, stock futures are leaning lower.
The United States COVID-19 cases are becoming more prominent and have topped 160,000. Thus, the United States President Donald Trump extended the guidance list for social distancing through April. Moreover, he said that seeing fewer fatalities than 100,000 will be an achievement. Thus, additional states announced lockdown. New York remains of high interest because it is the epicenter of the disease.
WHO, United Kingdom, and Gross Domestic Product WHO announced that the coronavirus might reach its peak now in Europe. The number of new cases in Italy and Spain is stabilizing and providing hope. Italy grapples with growing poverty in the south, while Spain remains under more severe lockdown measures. Moreover, the Eurozone Consumer price will most probably rise by the slower rate for February. Still, the markets are focused on COVID-19.
Moreover, in the United Kingdom, deaths are still rising. The United Kingdom has changed its counting method. Prime Minister of the United Kingdom, Boris Johnson is under pressure for increasing the pace of tests. Final Goss Domestic Product (GDP) figures for the fourth quarter are due out.
Chinese Purchasing Manager’s indexes came out above expectations. In March, the Manufacturing PMI is at 52. Moreover, the non-Manufacturing is at 52.3. Thus, both figures were projected to remain below 50.
The United States Conference Board’s Consumer Confidence gauge for March forecasts for collapsing. Recorded in February, it is tumbling from the high level of 130.7
Today, end-of-quarter flows are set to rock markets and make cause jitters.
It is the current news of the market.
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