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American stock markets fell today, as European stock indices witnessed a significant decline due to fears of a second wave of the Coronavirus pandemic. This potential return to crisis levels of infection could delay the global economic recovery that has been anticipated – or hoped for – in second half of the year.
Following the Fed’s surprise 50 bps cut to its fed funds rate target on March 3, another 50-bps cut is anticipated at its next meeting on March 18. The Federal Reserve's emergency rate cut had a limited positive effect and only opened markets' thirst for more moves.
It’s been a truly chaotic fortnight in financial markets, with the number coronavirus cases and fatalities accelerating outside of China, prompting authorities around the world to raise their game.
US dollar fell sharply in the past few days, especially after the US Federal Reserve announced a decision to cut interest in an emergency meeting
Australia's trade surplus narrowed in the first months of the year
Oil prices have recovered significantly by more than 6% since the beginning of the week, after reaching their lowest level in nearly 15 months, as markets hope to deepen production
Investors will continue to assess the impact of COVID-19 on the global economy next week, central banks in Australia, and Canada will be deciding on interest rates. While the US Democratic primaries and the UK-EU trade negotiations will also dominate the news.
US dollar fell since the start of the weekly trading with the increase in expectations about spreads of Coronavirus
We have seen a week full of economic events and developments regarding the COVID-19, but this week may not be any less important than last week, as we wait for many economic data that will prove the trends of the major economies amid global health crisis threatening the global economy.
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