By - Jamel Lahiani
The published data coming from USA last week, including ISMs and NFP, suggested that US economy is in healthy shape. The bullish trend should continue in the near term. As the coronavirus fears receded the US dollar was jumped on solid batch and the US stocks indices realized new records highs.
The outbreak hasn’t significant contagion effects outside of Asia for the moment, even though risks remain. Hence, for now, we’d continue to expect US stocks to perform well if there is no drastic turn in sentiments. This leading the stocks market to bloom as follows: Dow Jones, DAX30 respectively 1.09 %, 2.12 % but declined face to Nikkei 225 by -1.59 %. The European majors were the weakest as UK and EU will now enter into negotiations of future relationships. The Risk of cliff-edge Brexit by the end of the year remains. As a result, the US dollar was appreciated face to the Euro and depreciated face to the British.
On the other side, the Bitcoin price realized a negative performance by decreasing -2.31% face to the US dollar. Bitcoin was fluctuating around 9933.80 US dollars. In African currency markets, The Nigerian NAIRA recognized a small appreciation face to the US dollar and closed the week at 360.00 US dollars. The South Africa ZAR was appreciated face to the US dollar by-1.13% and closed last week at 14.89299 US dollars.
The commodities market was characterized by the Crude oil price falls by -3.51 %, ending last week at 52.17 US dollars. Also, the Gold price falls by -0.86 and ended last week at 1583.846 US dollar due to the orientation of investors to the stocks market.
The last week main markets prices and variations
Market in Focus: 17 February – 21 February 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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