There are some doubts about Apple sustainability amid coronavirus. Who will buy and who will produce new IPhones?
High-flying euro suppresses European equities
On Monday, the euro reached a 23-month peak versus an ailing greenback, putting pressure on equities of EU exporters before weaker-than-expected German business activity suppressed the common currency.
In Asian trade the euro hit $1.1684 before pulling back to $1.1648, tumbling 0.2% on the day. The common currency reached a minimum for the day of $1.1638 after preliminary data demonstrating that in July German private sector surged decreased more than expected.
The common currency’s strength helped to push the greenback – already suppressed by political uncertainty in Washington - to its lowest value in 13 months versus a basket of key currencies.
The common currency has ascended in recent weeks on hopes that the European Central Bank will get down to scaling back its bond-buying monetary stimulus scheme.
On Monday, European equities went down. The exporter-dominated German DAX index lost 0.2%, while the pan-European STOXX 600 index slumped 0.1%, having dropped 1% on Friday as the strong common currency put pressure on earnings.
The so-called “stock market bloodbath” has continued on Friday with major indices falling down to the lows of the last October. What's going on?
Besides coronavirus, other news has been driving the stocks of Apple, Wallmart and General Motors to the lower levels.
US Fed comes right on time with the crisis support program announcement. How does the stock market react?
We could gain from buying emerging-market currencies such as South African rand, Mexican peso and Brazilian real.
Here are the most important topics that will determine the dynamics of currencies, commodities and stocks on Thursday, April 9. N