Friday, November 13, 2020

Traders Will Not Continue To Be Silent In This Situation!

 Market excitement for the Covid-19 vaccine is fading with investors expecting the current situation to worsen before the situation recovers.

Following the 8-day consecutive rise, the stock market began to decline on Thursday and is expected to continue declining today following concerns over an increase in coronavirus cases.

On Thursday, the UK recorded 33,740 coronavirus cases while New York was considering closing schools and Chicago had issued a 30-day home stay notice as the country recorded more than 150,000 cases.

The dollar index measuring the strength of the greenback dollar declined lower in the European session after trading flat during the Asian session.

The major currencies continued to trade at the same price level despite a slight increase in today's trading session due to uncertainty in market sentiment causing investors to take a cautious approach.

The Aussie dollar traded slightly changed at 0.7240 against the USD, while the kiwi dollar depreciated lower, almost erasing all gains on Wednesday following the Reserve Bank of New Zealand (RBNZ) decision.

While euro trade rose slightly ahead of the European Zone Gross Domestic Product (GDP) quarterly data release this afternoon.

Pound trading traded slightly higher at $ 1,314 amid market concerns over the Covid-19 outbreak and Brexit trade negotiations that indicated the two sides were still far apart.