
Good day for all traders out there! We prepared a gold analysis and a bunch of other news for you to enjoy! Here's what you should know:
According to the International Monetary Fund, the global economy could suffer from the coronavirus pandemic even more than from the financial crisis a decade ago.
Nowadays the coronavirus is streaming to the West, as reported by Morgan Stanley, giving Asia a priority to come out of the crisis soon. This could be a possible solution for investors looking for safe spots to park their money.
First of all, Asia is much more prepared economically to ride out the current crisis compared to the West, as it experienced similar situations in the past. For instance, the SARS epidemic in 2003, which hit mainland China, Hong Kong, and Singapore particularly hard, and plunged their respective economies into recession. That makes these countries ready for the next disasters.
Secondly, Asian companies have stronger cash positions. The firms of such countries as Taiwan, Japan, China, Hon Kong and Korea took the first places of top 100 companies in each market with net cash position.
Also The MSCI Asia Pacific Index increased 5.5%. Asian economies with closer trade and economic ties with China are expected to see faster recovery given that China's economy is starting to see signs of normalizing with a substantial decline of COVID-19 cases, said UBS Investment Bank.
Finally, Central banks in Asia have space to cut rates. Global interest rates are already low, even negative in some countries. So, central banks in Asia obviously have more ammunition to cut borrowing costs to support their economies, compared to their U.S. and European peers, analysts suggested.
The arguments mentioned above encourage us to have a closer look at the JPY. Traditional safe haven, it may perform well against the euro and the British pound. Of course, so far, these are only predictions and it will be necessary to monitor the economic data coming out of Japan to confirm them.
Good day for all traders out there! We prepared a gold analysis and a bunch of other news for you to enjoy! Here's what you should know:
A new week will be interesting as we await Central Banks Meetings, more earnings reports, and NFP. Let's review the main headlines for this Monday as we prepare for volatile days ahead!
Bloomberg says yesterday’s movement was so far the wildest. It was the first time in history for the US500 to crash by 2% and close the day 2.8% above the neutral line. There’re several possible reasons for the move.
The Reserve Bank of Australia (RBA) will make a statement and release a Cash Rate on February 7, 05:30 GMT+2. It's among the primary tools the RBA uses to communicate with investors about monetary policy.
This week may be the most important since the year started as the Fed assess the economic outlook and the US presents fresh NFP readings.
S&P Global, a private banking company, will release a monthly change in British Flash Manufacturing Purchasing Managers Index (PMI) on January 24, 11:30 GMT+2. The index is a leading indicator of economic health as businesses react quickly to market conditions, and purchasing managers hold the most current and relevant insight into the company's view of the economy.
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