Forex Today: Stocks, Risk Assets Up as Week Opens – 14 September 2020

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on September 14, 2020

Stocks and Risky Assets Enjoy a Modest Recovery on Hope Bottom Reached

  • Almost all global equity indices have been rising since this week opened. The more recent Asian session saw the main Japanese stock index make a healthy rise.
  • Technically, it appears the recent stock market selloff is a natural correction and not a significant trend change.
  • The U.S. Dollar is a little weaker, in line with the long long-term bearish trend established following June’s “death cross” in the USD Index.
  • The Forex market is now seeing riskier currencies bounce back against the USD and JPY, with the British Pound and the precious metals gold and silver gaining the most so far today.
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  • The WHO is reporting a new record daily high in global confirmed cases.
  • Coronavirus daily global death tolls have been falling slightly for more than 6 weeks, 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.
  • Total confirmed new coronavirus cases stand at over 28.9 million with an average case fatality rate of 3.19%. Global mortality over recent weeks is lower than it was during the first peak in April.
  • The number of new cases is rising strongly in the European Union and the U.K. The U.K. has recently applied a new restriction against groups gathering of more than 6 people.
  • The country with the highest number of new daily coronavirus cases and deaths is India which again saw more than 1,000 deaths yesterday from the coronavirus and reported approximately 95,000 new cases. India has more confirmed coronavirus cases than any other nation except the U.S.A.
  • Israel announced yesterday it would impose a three-week national lockdown to fight a high level of coronavirus infection, becoming the first country to impose a second full lockdown after an earlier closure last March.
  • The rate of new coronavirus infections appears to now be increasing most quickly in Albania, Argentina, Austria, Bahamas, Bahrain, Belgium, Bolivia, Bosnia, Brazil, Bulgaria, Burma, Colombia, Costa Rica, Croatia, Cuba, Czech Republic, Denmark, Finland, Georgia, Germany, Greece, Guatemala, Hungary, India, Indonesia, Iran, Iraq, Israel, Italy, Jordan, Lebanon, Lithuania, Malaysia, Malta, Moldova, Montenegro, Morocco, Nepal, Netherlands, Norway, Philippines, Portugal, Romania, Slovakia, Slovenia, Switzerland, Trinidad, Tunisia, U.A.E., Ukraine, the U.K., Uruguay, and Uzbekistan.  

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