By - Jamel Lahiani
US stocks, DAX 30 and Nikkei 225 (Japan) declined last week as a spike in new coronavirus cases and data showing a stall in US business activity in February fueled investors fears about economic growth. In fact, the outbreak has significant contagion effects outside of Asia with propagation to new countries like Iran and Italy. This leading the stocks market to fall as follows: Dow Jones, DAX30 and Nikkei 225 as respectively -1.37 %, – 1.46 % and -1.27 %.
Gold and silver continue scaling higher and recording respectively 3.76% and 4.21; amid a fresh wave of the global risk-aversion trade. Heightened fears about the economic impact of the deadly coronavirus rattled investors. Absent relevant economic data is unlikely to hinder the ongoing strong move up. Nevertheless, the Crude oil price blooms by 1.89 %, ending last week at 53.197 US dollars. On the other side, the Bitcoin price realized a positive performance by increasing 0.44% face to the US dollar. Bitcoin was fluctuating around 9977.24 US dollars. In African currency markets, The Nigerian NAIRA
recognized a small depreciation face to the US dollar and closed the week at 362.00 US dollars. The South Africa ZAR was depreciated face to the US dollar by 0.51% and closed last week at 14.98700 US dollars.
The last week main markets prices and variations
Market in Focus: 24 February – 28 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.
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