The recovery story is still doing the rounds even though it looks like England will not be restriction-free for a few more weeks.
The fourth week of heightened volatility will see financial markets continue to focus on the coronavirus spread across Europe and the US. Investors will continue to monitor the spread and impact of Covid-19 on the global economy amid hopes of a coordinated stimulus package from world policymakers.
World governments are suffering from a great dilemma, on one hand is the COVID-19 Spread. Global official bodies are taking extensive containment measures to limit the spread. It was confirmed that the number of infections has exceeded 135 thousand cases
The British pound at the start of the European session dipped against the US dollar below the levels of $1.29 after the Bank of England surprised the markets by cutting the borrowing costs by 50 basis points in order to counter the coronavirus crisis.
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
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