Crypto Market Changes The Trend
Happy Tuesday, dear traders! Here’s what we follow:
All eyes on global central banks
Information is not investment advice
The outbreak of coronavirus has caused a severe selloff across the global markets. Last week was the worst since the financial crisis. Economic activity in China has notably declined and the same may happen to other major economies over the next few days and weeks.
Such situation has led to rumors that central banks will intervene to protect price stability. Earlier this morning, multiple sources have stated that the G7 will have a teleconference later this week.
Multiple central banks also sent out a statement stating that they would use the tools appropriate to support the economy. This is a clear sign that there might be a coordinated action by the central banks any moment, which will have a major impact on the markets.
Why is it important for traders?
In particular, such an event will support S&P 500 and other stock indexes. The short-term reaction of XAU/USD may be negative. The currency pairs which will be the most affected by the news are AUD/USD, NZD/USD, and USD/JPY.
Remember that proper risk management in needed in times of abnormal volatility.
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Crypto Market Changes The Trend
Happy Tuesday, dear traders! Here’s what we follow:
The US Labor Market And Real Estate Market Are In Focus This Week
Labor Market and Real Estate Market data was published yesterday. Markets are slowing down, so the economy is in recession. Today the traders should pay attention to the Retail sales in Canada.
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