By - Jamel Lahiani
Wall Streets main indexes fell last week with a Dow Jones declined by -2.03 percent as the coronavirus absorbed the record US job growth streak in the trump government period, intensifying fears of a deep
economic slowdown. The loss of 701,000 jobs that Labor Department data showed for March did not completely capture the economic damage from the virus. In fact, more people will be out of work due to the persistence in times of the pandemic. The decline of the demand following the obligation of peoples to stay indoors leads to a lack of cash and the insolvability of many companies.
Japan’s Nikkei index was subject to a huge decline last week by -8.09 percent while the European DAX index declined by -0.93 percent as dismal business activity data heralded a deep economic and earnings recession due to the novel coronavirus outbreak.
Many Composite data published last week showed a severely contracted business activity in the Eurozone in March, with several analysts forecasting worse readings as most economies in the region shut down to curb the spread of the virus. In fact, economists expect euro area real GDP to shrink as much as 43 percent in the second quarter.
The increasing hopes that Saudi Arabia and Russia would end their price war were leading to appreciate the oil price during last week to realize a gain of 32.18 percent. The only lower supply of crude oil by the main producers around the world can put a floor under oil prices. In this context, the US President Trump met with US oil company executives at the White House and said Saudi Crown Prince Mohammed bin Salman and Russian President Vladimir Putin both want something to happen to stabilize the global oil market.
The Healthcare and Retail stocks were among the few gainers around the world last week, as the sector continues to benefit from safe-haven demand due to the necessity caused by the outbreak.
The Bitcoin (BTC/USD) price appreciate last week by 15.17 percent to increases more than 9.28% and fluctuating around $6775.21 showing more confidence against the investors and traders about the Bitcoin money looking expecting higher value.
In African currency markets, The Nigerian NAIRA was exchanged at 365.00 US dollars. The South Africa ZAR depreciated faces to the US dollar by 7.86 % and ending last week at 19.00561 US dollars.
The last week main markets prices and variations
Market in Focus: 06 April – 10 April 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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