Forex Today: Stocks Falling on Coronavirus Milestones – 29 June 2020

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on June 29, 2020

Coronavirus “second wave” hits U.S.A.

  • Asian stock markets are falling as several U.S. states report surge in new coronavirus cases after reopening, with Texas especially badly hit. Some restrictions are re-imposed, causing fears of economic damage. The Japanese Nikkei 225 Index is down by almost 2% today.
  • Globally there are now more than 10 million confirmed coronavirus cases and half a million deaths. The death tolls are highest in the U.S.A., Brazil, the U.K., Italy, and Spain – together these countries have seen more than half of all deaths worldwide.
  • Gold made a new 8-year high weekly close last Friday, and looks likely to rise higher still this week.
  • Friday saw the highest daily tally yet of new confirmed coronavirus cases yet worldwide, with 194,190 new confirmed cases.
  • In Forex, risk sentiment has improved as the week opens, with precious metals and the British Pound strong, while the U.S. Dollar is currently the weakest currency.
  • Coronavirus deaths in Latin America and the Caribbean are 53% 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 in South America.
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  • Total confirmed new coronavirus cases stand at over 10.1 million with an average case fatality rate of 4.95%.
  • 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 increasing most quickly in Brazil, the U.S.A., India, Mexico, Colombia, Iraq, South Africa, Sweden, the Philippines, Serbia, Costa Rica, Germany, Japan, Switzerland, and Israel.

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