By - Jamel Lahiani
The main stocks index fell last week and viewed a huge downward movement assumed by the biggest weekly drop since the 2008 global financial crisis on growing fears. he fast-spreading coronavirus could push the most powerful economy in the world into recession, although stocks regained some ground right at the end of a volatile week. This leading the stocks market to fall as follows: Dow Jones, DAX30 and Nikkei 225 as respectively by -11.93 %, -12.46 % and -9.59 %.
Gold and silver continue recognized an important correction after huge upside movement a week before and recording respectively -3.46% and – 9.8%; amid a wave of the global risk-aversion trade and strong market volatility fueled by fears about the economic impact of the deadly coronavirus to the global economic growth. Nevertheless, the Crude oil price was subject of strong fall by -15.1 %, ending last week at 45.26 US dollars. This leading the US dollar to depreciate face the Euro by 1.66% because the strong correlation between the US dollar and crude oil price.
Bitcoin price recognized also a huge falls and depreciate by -14.52 % faces to the US dollar. After passing the level of 10000 US dollar a few weeks ago the price becomes fluctuating around 8528.4 US dollars. In
African currency markets, The Nigerian NAIRA recognized a small depreciation face to the US dollar and closed the week at 364.00 US dollars. The South Africa ZAR was also depreciated face to the US dollar by 4.14 % and closed last week at 15.62293 US dollars.
The last week main markets prices and variations
Market in Focus: 2 March – 6 March 2020
We have a list of high impact events this week. The publication of the events can leads to a strong movement or a trend for the related currencies. The discussion of the events impacts will be done within the daily FOREX report.
The publications that have a very significant theoretic impact are:
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