Silver prices on both the spot and futures markets are rising this Tuesday on the back of the renewed risk-on...
Coronavirus
On this page, you will find our latest news and analysis of the Coronavirus, and how it is affecting the world’s financial markets.
Special Article: Revisiting SARS and How the New Coronavirus Outbreak Can Affect Financial Markets
71,811
Total Confirmed
1,775
Total Deaths
11,364
Total Recovered
Coronavirus Map
In January 2019, news of a SARS-like coronavirus hit the newswires. It began in the Chinese province of Wuhan and is said to have come from animals. Its symptoms include a runny nose, cough, fever, and difficulty breathing. In more severe cases, it can lead to kidney failure and death. Officially the new virus is called 2019-nCoV, and it quickly infected over 800 people in less than two weeks. The death toll also rose from 3 to 25 in a matter of days. Countries outside of China soon began recording cases of the coronavirus from Japan, Thailand, South Korea, the US, and Australia.
To curb the spread of the disease, the Chinese government imposed a travel ban for the city of Wuhan. It was a bold move considering that Wuhan is a large city of 11 million people and is considered a significant transport hub. Soon after, eight more Chinese cities were limited from travel.
Consequently, the infection sparked public fears. It did not take long for that fear to affect financial markets. Among those adversely hit was the Hang Seng Index. The proximity of the financial hub to the epicenter took its toll on stocks in the retail, transportation, and property sectors. The Shanghai Composite Index initially benefitted from the news thanks to increased sales by pharmaceutical and mask-producing companies. However, risk aversion quickly caught on, and the Chinese stock index began trading lower.
On the other hand, safe-haven assets like gold and the Japanese yen saw increased demand as fears of the coronavirus mounted.
Latest News
A rallying Norwegian Krone sent the USDNOK towards 3-week lows, as the commodity currency benefitted from higher crude oil price...
The recovery on the Nasdaq 100 continued in Tuesday’s premarket trading as US markets record gains on renewed coronavirus containment...
The USDCAD has seen its strong upside push capped at the 1.42746 resistance as crude oil price on the WTI...
Gold prices are diving as the US trading session gets underway. The move lower in gold prices is fueled by...
The Commitment of Traders (COT) Report for the week which ended on March 31 indicates that speculators have increased their...
The Nasdaq 100 futures are gaining actively on Monday on renewed optimism that coronavirus cases in the US may have...
The Turkish Lira came under renewed pressure this Monday as the USDTRY surged to 18-month highs on the back of...
Tesla share price surged initially on the day, opening with a bullish gap after the company reported better-than-expected vehicle deliveries...
The Nasdaq 100 looked set for a lower open this Friday after the NFP jobs data revealed what many had...