Forex Today: NASDAQ Hits New All-Time High – 02 July 2020

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on July 02, 2020

Coronavirus new daily cases in U.S. above 50,000 fails to dent markets

  • The U.S. NASDAQ tech stock index closed at an all-time high price yesterday, and looks likely to rise higher still this week.
  • Stock markets are broadly a little higher over the past day.
  • In Forex markets, risk sentiment has continued to improve very slightly, with the Euro strong, while the U.S. Dollar is currently the weakest currency.
  • The ADP forecast of U.S. jobs data came in slightly below expectations yesterday. Real data will be released today at 1:30 pm London time ahead of tomorrow’s major public holiday in the U.S.A.
  • Yesterday saw the highest number yet of daily total new coronavirus confirmed cases globally at 196,901.
  • The World Health Organization confirmed there have been more than a million coronavirus cases in its region from Morocco to Pakistan, warning that the Middle East has reached a “critical threshold” in managing the disease.
  • Coronavirus deaths in Latin America and the Caribbean are 52% 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 well established in Latin America.
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  • Total confirmed new coronavirus cases stand at over 10.6 million with an average case fatality rate of 4.83%.
  • 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, Algeria, Bangladesh, Bosnia, Colombia, the Czech Republic, the Dominican Republic, El Salvador, India, Indonesia, Israel, Kosovo, Montenegro, Panama, Paraguay, the Philippines, Peru, Saudi Arabia, Serbia, South Africa, Uzbekistan, and Venezuela.

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