Dollar steady despite NFP plunging to historic lows

This article was first published on FXTM Global.
- -
This content is synced from the rightful owners. Copyright on text and images belong to the original source.
- -


If horrendous job numbers are unable to faze King Dollar, then what can?US non-farm payroll employment dropped by a staggering 701,000 in March, the worst in 11 years as the coronavirus outbreak swept through the United States like a crazy tornado. The unemployment rate jumped from 3.5% to 4.4%, its largest over-the-month increase since January 1975 while average hourly earnings rose 0.4% month-on-month.This disappointing US jobs report continues to illustrate a very gloomy picture and highlights how badly the black swan event is impacting the largest economy in the world. Could this... Read More


--
To keep reading this article, please navigate to: FXTM Global.

EURUSD: Recent Decline Part of Correction

This article was first published on Orbex Forex Trading Blog.
- -
This content is synced from the rightful owners. Copyright on text and images belong to the original source.
- -

The current EURUSD structure suggests that we could be looking at the final part of a cycle-degree zigzag consisting of sub-waves w-x-y.

At the time of writing, wave y seems to be under construction. This is also a primary-degree Ⓐ-Ⓑ-Ⓒ zigzag.

Waves Ⓐ and Ⓑ are fully formed, whereas wave Ⓒ is still under development.

We could see a decline in the bearish impulse wave Ⓒ near 1.0610 as part of the final part of wave y. At this level, prices will have reached the 161.8% extension of wave Ⓐ.

eurusd

Since we are still trading above Ⓐ, an alternative scenario should be also considered. According to which the formation of the primary wave Ⓑ is not completed yet.

If this hypothesis is correct, wave Ⓑ could take the form of a flat ‘three’, consisting of intermediate sub-waves (A)-(B)-(C).

We could see a decline in the bearish wave (B) near 1.0637 (wave Ⓐ low). Then, it could correct higher in wave (C) to complete the primary wave Ⓑ.

Wave Ⓑ could take us near the 1.1144 level, the high marked by inter...


--
To keep reading this article, please navigate to: Orbex Forex Trading Blog.

What Is the “Kelly Criterion” in Forex?

This article was first published on Orbex Forex Trading Blog.
- -
This content is synced from the rightful owners. Copyright on text and images belong to the original source.
- -

Kelly Criterion Forex

Put simply, the Kelly Criterion or Formula is a way to calculate how much of their assets a Forex trader should risk on any given trade in order to maximize the return.

It became notorious among equities traders because it was said that Warren Buffet uses a version of it when he’s picking his investments. Of course, since there is no such thing as a sure thing in trading, it has its detractors.

Sometimes it’s called the Kelly Strategy, but that can be giving it an undeserved level of usage.

At its core, it’s a calculation of risk relations. It is best suited as a risk and money management tool. It was originally designed for that purpose and became quite popular among gamblers in the middle of the last century.

What Is It?

The formula calculates the percentage of your account that you should invest (K%). That is equal to the historical win percentage (W) of your trading system minus the inverse of the strategy win ratio divided by the personal win/loss ratio (P).

Wait...


--
To keep reading this article, please navigate to: Orbex Forex Trading Blog.

EURAUD – Potential Quick Minor Correction Prior to Further Retrace Lower

This article was first published on Orbex Forex Trading Blog.
- -
This content is synced from the rightful owners. Copyright on text and images belong to the original source.
- -

euraud daily

The pair did a swing low to 1.6779 on March 5th and then a swing high to 1.9799 on March 19th. It is currently on a retrace and posted a low of 1.7672 so far.

Big swings are in play on the FX front since central banks started lining up with the “whatever it takes” mantra and slashing interest rates.

The euro initially found extraordinary safe-haven status. Investors either bought euros or liquidated earlier shorts acquired prior to the volatility hitting the FX markets.

The 8-hr chart above outlines the current retrace lower in progress. Ideally, this retrace should follow through all the way down to 1.700 handle; and it just might.

However, at present, we are only interested in the current scenario we are seeing developing on the pair.

The red trendlines are forming a descending wedge. If broken, the target is the blue trendline or mid 82.XX.

In a rare case, if there is a break under the descending wedge, a move towards the black trendline or 1.7000 handle would look attractive.

Overa...


--
To keep reading this article, please navigate to: Orbex Forex Trading Blog.

Metals Rally Amidst Market Stabilisation

This article was first published on Orbex Forex Trading Blog.
- -
This content is synced from the rightful owners. Copyright on text and images belong to the original source.
- -

Gold

It’s been a much quieter week for the yellow metal on the back of the recent volatility we have seen in prior weeks. The ongoing coronavirus situation continues to dominate market news-flow and remains the key catalyst for price action currently.

Gold prices have recovered strongly off the March lows are now sitting in a holding pattern not far of the year to date highs.  With central banks around the world having announced fresh easing in recent weeks, gold prices have been supported. The Fed, in particular, has made the historic move of curing rates to just above 0% while also making the move into unlimited QE. This recent announcement has helped pull the Dollar back from the highs seen in March (index reached highs of 102.95), also helping support gold.

For now, the outlook remains mixed, but upside risks are clear. As gold reverts back to traditional safe-haven status following the stabilisation in asset markets over the last week, focus is on a further push higher. Incomi...


--
To keep reading this article, please navigate to: Orbex Forex Trading Blog.

Oil restores gains as OPEC+ set for emergency meeting

This article was first published on FXTM Global.
- -
This content is synced from the rightful owners. Copyright on text and images belong to the original source.
- -


Brent futures erased earlier losses on Friday amid reports that OPEC+ is set to hold an emergency virtual meeting on Monday to stabilise global markets. Most Asian stocks and currencies are still declining, with US stock futures also in the red at the time of writing. News of the OPEC+ meeting comes after President Trump suggested on Twitter that Saudi Arabia and Russia could lower crude supply to stem the decline in Oil prices.Crude prices are in need of a saviour, which must come by way of coordinated supply cuts by major producers, at least to put a firmer floor under prices. Even if... Read More


--
To keep reading this article, please navigate to: FXTM Global.

What 15M bpd Cut?

This article was first published on Orbex Forex Trading Blog.
- -
This content is synced from the rightful owners. Copyright on text and images belong to the original source.
- -

Oil’s surprise move supported loonie yesterday following Trump’s twit on SA and RU cutting production, however, will it really last given no official announcement was made by OPEC+? Meanwhile, the US and the UK are the only countries that haven’t yet imposed domestic containment measures, and this could delay their recovery compared to Europe since it’s a bigger trading partner with Japan and the cases there show a decline. Are we going to see respective currencies trading alike?

The post What 15M bpd Cut? appeared first on Orbex Forex Trading Blog.


--
To keep reading this article, please navigate to: Orbex Forex Trading Blog.

XAUUSD Attempts to Move to the Upside

This article was first published on Orbex Forex Trading Blog.
- -
This content is synced from the rightful owners. Copyright on text and images belong to the original source.
- -

Gold prices are slightly bullish, rising over 1.50% on the day. Price action reclaimed the resistance level of 1594.

This puts the upside bias into the picture. In the event that prices pullback lower, then we expect the 1594 level to hold out as support.

To the upside, the next target is at 1655 handle. Alternately, if price fails at 1594, then we expect a move lower.

Test your strategy on how gold will fare with Orbex - Open your account now. 

The post XAUUSD Attempts to Move to the Upside appeared first on Orbex Forex Trading Blog.


--
To keep reading this article, please navigate to: Orbex Forex Trading Blog.

Crude Oil Rises to a 2-week High

This article was first published on Orbex Forex Trading Blog.
- -
This content is synced from the rightful owners. Copyright on text and images belong to the original source.
- -

Oil prices are caught in a bid, rising to a two-week high. The gains came after President Trump’s announcement about a possible OPEC supply cut.

WTI crude oil rose to intraday highs of 27.31 before retracing some of the gains.

Despite the short term gains, the hidden divergence suggests that price action will be forming a bottom in the near term.

In the event of a break down below 22.00, then we expect further consolidation or a possible decline further.

Test your strategy on how Oil prices will fare - Open Your Orbex Account Now

The post Crude Oil Rises to a 2-week High appeared first on Orbex Forex Trading Blog.


--
To keep reading this article, please navigate to: Orbex Forex Trading Blog.

GBPUSD Continues to Maintain a Sideways Range

This article was first published on Orbex Forex Trading Blog.
- -
This content is synced from the rightful owners. Copyright on text and images belong to the original source.
- -

gbpusd technical analysis

The British pound continues to trade flat, maintaining a sideways range since March 27.

The Stochastics also remains rather flat in the near term. This suggests that the momentum is still weak at the moment.

However, we expect to see a breakout off this level. We expect this breakout to be strong.

The bias remains mixed at the moment, opening the risk on either side.

Test your strategy on how the GBP will fare! Open your Orbex Account and start trading now. 

The post GBPUSD Continues to Maintain a Sideways Range appeared first on Orbex Forex Trading Blog.


--
To keep reading this article, please navigate to: Orbex Forex Trading Blog.

Euro Maintains declines amid a strong USD

This article was first published on Orbex Forex Trading Blog.
- -
This content is synced from the rightful owners. Copyright on text and images belong to the original source.
- -

The euro is down another 0.8% on the day. The declines could likely see a move to the lower support level at 1.0787.

There is scope for a modest rebound ahead of the decline to the support level. However, the resistance level at 1.1030 will be coming under a second retest.

As long as this resistance holds, the downside is likely. In the event that the support fails at 1.0787, then we expect a move lower to 1.0663.

Test your strategy on how the euro will fare with Orbex - Open your account now. 

The post Euro Maintains declines amid a strong USD appeared first on Orbex Forex Trading Blog.


--
To keep reading this article, please navigate to: Orbex Forex Trading Blog.

NFP Preview – the Worst Yet to Come

This article was first published on Orbex Forex Trading Blog.
- -
This content is synced from the rightful owners. Copyright on text and images belong to the original source.
- -

nfp preview

The US didn’t start taking stringent measures against the pandemic till around mid-March. The rest of the world, on the other hand, had been sounding the alarms for weeks. 

The true impact of the virus on job numbers will appear in April’s report. But, nevertheless, the March numbers will start pointing to the tough times ahead.

The upcoming NFP report could indicate that since 2010, this will be the first time the US economy has lost jobs.

These numbers are expected to deteriorate stupendously in the coming months.

March Finally Ends 

Most will be glad to see the month of March finally ending. It certainly has been brutal to every aspect of life.

Financial markets crumbled like a house of cards and even at present, they are gasping for breath.

Beginning the new month with the nonfarm payroll, investors and traders alike will be closely watching the release. This report will show just how much things have changed on the employment front in the largest economy of the world.

The expectat...


--
To keep reading this article, please navigate to: Orbex Forex Trading Blog.

Dollar higher despite U.S Jobless Claims hitting 6.6M

This article was first published on FXTM Global.
- -
This content is synced from the rightful owners. Copyright on text and images belong to the original source.
- -


The largest economy in the world is certainly not bulletproof against the novel coronavirus outbreak and this stark reality was reflected in the latest US initial jobless claims figures.A total of 6.65 million Americans applied for unemployment benefits last week which was double the previous record set at 3.3 million amid the widespread economic shutdown and chaos caused by the pandemic. These abysmal figures are painting a gloomy picture over how badly the coronavirus has hit the US economy with the pace of layoffs expected to accelerate as recession fears mount.The Dollar... Read More


--
To keep reading this article, please navigate to: FXTM Global.

DXY: Upside Substructure Looks Impulsive

This article was first published on Orbex Forex Trading Blog.
- -
This content is synced from the rightful owners. Copyright on text and images belong to the original source.
- -

dxy

The current DXY structure suggests we are on a bullish 5-wave impulse that consists of waves I-II-III-IV-V of a cycle degree.

At the time of writing, a bearish zigzag move offered a bounce where prices were seen retracting away from primary wave ④. This might be the beginning of cycle wave V. The primary impulse ⑤ is also in the process of structuring into wave V.

With the intermediate impulse (3) underway we can expect to see bulls to continue pushing prices higher.  Any level above 102.99. That is, above the previous swing high can complete the 5-wave move.

The upside formation, however, can be also seen as a correction due to its somewhat limited upside momentum below minor A. This scenario sees wave ④ incomplete and further declines can be expected in a complex 3-wave correction pattern.

With a double zigzag coming into play already down to wave (Y), we can expect this correction to continue into a triple zigzag. This would consist of intermediate sub-waves (W)-(X)-(Y)-(X)-(Z).

On...


--
To keep reading this article, please navigate to: Orbex Forex Trading Blog.

Trump Warning Hits Markets!

This article was first published on Orbex Forex Trading Blog.
- -
This content is synced from the rightful owners. Copyright on text and images belong to the original source.
- -

The markets took a hit on Tuesday as Trump warned the US death toll could reach a quarter of a million in the next two weeks. New Zealand’s central bank on the other hand, ordered their banks to stop paying dividends this morning in order to maintain “higher levels of capital” during the pandemic. Will safe haven flows increase while emerging markets take another beat? Let’s have a look at usdnok and nzdchf!

The post Trump Warning Hits Markets! appeared first on Orbex Forex Trading Blog.


--
To keep reading this article, please navigate to: Orbex Forex Trading Blog.

Coming up: March US ISM Non-Manufacturing PMI

This article was first published on Orbex Forex Trading Blog.
- -
This content is synced from the rightful owners. Copyright on text and images belong to the original source.
- -

March US ISM PMI

Tomorrow is NFP day. And, given the changes in the labor market recently, it’s likely to get all of the attention.

But even with headlines and market volatility around that, we shouldn’t neglect the PMI data that comes out an hour and a half later.

It’s the last major event to close out the week, and we could see the market move quite a bit afterwards.

Everyone is going to be extra keen on the non-manufacturing PMI because it covers the services sector. That’s the sector that suffers most directly and immediately due to the measures to control the COVID-19 outbreak in the US.

Expectations Are Not What They Seem

The thing is, though, the survey happened before most of the latest and most dramatic news about the effects of the virus.

It concluded long before the number of US cases surpassed those of China. This was back when the mayor of New York was still calling for public events.

Consequently, we might not see as much of a drop in the reading.

Of course part of...


--
To keep reading this article, please navigate to: Orbex Forex Trading Blog.

CHFJPY – More Downside to Prevail

This article was first published on Orbex Forex Trading Blog.
- -
This content is synced from the rightful owners. Copyright on text and images belong to the original source.
- -

chfjpy

The past 3-4 weeks have brought a lot of volatility in the FX markets.

The general trend has been a run to buy on the US dollar.

However, other safe-haven currencies notably the JPY & the CHF are finding buyers compared to other majors.

The Swiss franc has long been a favored currency to acquire at times like this. However, when the stocks are on a rocking boat as they are now, JPY tends to do better than most.

Hence, it’s no surprise that the JPY has found strength as the next best performer after the US dollar.

The daily chart above is as simple as it can be. It cuts through the noise and only highlights a channel where the current price action, in general, could take place, until a break to either side is achieved.

The blue channel is in play. The black line in between serves as the support it needs to break and close under, to test the lower mark of the channel.

It is normal that price gets to retest the breakout region, and then starts to head back in the direction of the brea...


--
To keep reading this article, please navigate to: Orbex Forex Trading Blog.

Australian & EU Retail Sales Surge

This article was first published on Orbex Forex Trading Blog.
- -
This content is synced from the rightful owners. Copyright on text and images belong to the original source.
- -

Australian EU Retail Sales

Tomorrow, we will be getting retail sales data from Australia and the EU.

The figures will likely point to an increase in consumer spending. This is as a result of the general public stocking up on food and other basic necessities in preparation for the possible prolonging of the lockdown period.

Aussie retail sales consist of monthly and quarterly estimates of turnover and volumes, for retail businesses. This includes both store and online sales.

EU retail sales will have a relatively muted impact. This is because Germany and France, which account for about half of the eurozone’s economy, released their consumer data earlier.

Australia: Surge in Consumer Spending

Australia had its preliminary release of the retail sales data on the 18th of March, 2020.

The Australian Bureau of Statistics (ABS) reported in the first-ever preliminary report that revenues rose by 0.4%, in February 2020.

The seasonally adjusted estimate, on the other hand, also rose by 0.4% in February 2020. This in...


--
To keep reading this article, please navigate to: Orbex Forex Trading Blog.

Record Drop In Gasoline Demand

This article was first published on Orbex Forex Trading Blog.
- -
This content is synced from the rightful owners. Copyright on text and images belong to the original source.
- -

Crude Inventories Rise Again

Crude prices have been under pressure again this week. The latest report from the Energy Information Administration revealed a further rise in US crude inventories. The EIA reported that in the week ending March 27th, US crude inventories rose by 13.8 million barrels. This was three times the 4.6 million barrel increase forecasted and marks the tenth consecutive rise in inventory levels.

Test your strategy on how Oil prices will fare - Open Your Orbex Account Now

This data comes on the back of the API reporting a 10.5 million barrel increase in inventory levels a day earlier. This reflects the massive lack of demand due to the ongoing coronavirus crisis.  With large swathes of the US on lockdown, oil demand has been decimated. It looks set to remain subdued until the lockdowns are over.

Gasoline Demand Sees Record Drop

Gasoline demand saw its largest ever one-week decline. The products supplied number (which is used as a proxy for gauging demand) dropped by...


--
To keep reading this article, please navigate to: Orbex Forex Trading Blog.

Becoming a Trader [My Personal Journey]

This article was first published on Trading Strategy Guides.
- -
This content is synced from the rightful owners. Copyright on text and images belong to the original source.
- -

In this episode of How to Trade It, I share my journey to becoming a trader—which includes my inherent love for risk. I also talk about the WORST thing that’s ever happened to me as a trader. I share the GREAT thing about reversals and my 3 points to successful trading. I also talk about […]


--
To keep reading this article, please navigate to: Trading Strategy Guides.

XAUUSD breaks down below support

This article was first published on Orbex Forex Trading Blog.
- -
This content is synced from the rightful owners. Copyright on text and images belong to the original source.
- -

Gold prices broke down below the support level of 1591.

This comes as price broke to the downside following the ascending wedge pattern. At the time of writing, prices are retesting the 1591 level once again.

If resistance forms here, then we expect a move to the downside. The lower support at 1534 level will be the likely support that will be tested.

Test your strategy on how gold will fare with Orbex - Open your account now. 

The post XAUUSD breaks down below support appeared first on Orbex Forex Trading Blog.


--
To keep reading this article, please navigate to: Orbex Forex Trading Blog.

WTI crude oil hovers below 22.00

This article was first published on Orbex Forex Trading Blog.
- -
This content is synced from the rightful owners. Copyright on text and images belong to the original source.
- -

Oil prices are trading slightly higher with prices rising modestly, by 1.50% intraday. However, prices remain strongly below the 22.00 handle meaning that there is still a downside risk.

For the moment, price action is caught in the range of 22.00 and 19.25. A breakout from these levels could be expected.

The Stochastics oscillator points to a possible hidden divergence which confirms with the downside bias.

Test your strategy on how Oil prices will fare - Open Your Orbex Account Now

The post WTI crude oil hovers below 22.00 appeared first on Orbex Forex Trading Blog.


--
To keep reading this article, please navigate to: Orbex Forex Trading Blog.

Market turmoil resumes as virus fears deepen

This article was first published on FXTM Global.
- -
This content is synced from the rightful owners. Copyright on text and images belong to the original source.
- -


Investors have suffered a tough start to the second quarter due to the coronavirus pandemic. After climbing 17.9% from its low in the past seven trading days, the S&P 500 kicked off the new quarter with a 4.4% decline.It seems most of the global fiscal and monetary stimulus measures have been priced in and the things that matter most at this stage are the infection and death rates of Covid-19.Psychology has a great impact on asset prices, and with more people realizing that the virus could reach them in some way or have already infected someone they know, that’s a good enough... Read More


--
To keep reading this article, please navigate to: FXTM Global.

GBPUSD consolidating after a rally

This article was first published on Orbex Forex Trading Blog.
- -
This content is synced from the rightful owners. Copyright on text and images belong to the original source.
- -

The British pound has been trading flat since late March. Prices are caught within the range of 1.2485 and 1.2277.

A breakout from this channel is likely to occur in the near term.

Given the upside bias prior to this range, we expect a breakout above this level for the gains to continue.

The price level at 1.2858 level will be the next target in question.

Test your strategy on how the GBP will fare! Open your Orbex Account and start trading now. 

The post GBPUSD consolidating after a rally appeared first on Orbex Forex Trading Blog.


--
To keep reading this article, please navigate to: Orbex Forex Trading Blog.

Euro drops as resistance holds

This article was first published on Orbex Forex Trading Blog.
- -
This content is synced from the rightful owners. Copyright on text and images belong to the original source.
- -

The euro currency continues to decline after failing at the resistance level of 1.1055. Even further declines could come in the near term.

The downside target is at 1.0787 where support will most likely form. However, we could expect EURUSD to attempt a rebound.

Price action could continue higher on a rebound above 1.1055 for any further gains to come through.

In the meantime, we expect the downside bias to remain open.

Test your strategy on how the euro will fare with Orbex - Open your account now. 

The post Euro drops as resistance holds appeared first on Orbex Forex Trading Blog.


--
To keep reading this article, please navigate to: Orbex Forex Trading Blog.

Best Cryptocurrency to Invest in 2020 – The Only 5 Coins to Survive Coronavirus Crash

This article was first published on Trading Strategy Guides.
- -
This content is synced from the rightful owners. Copyright on text and images belong to the original source.
- -

Check out 6 explosive and probably the best cryptocurrency to invest in 2020. We ranked Bitcoin and other digital currencies using our proprietary formula and research tool. As a bonus, we’re going to reveal the secret crypto for 2020 that nobody is talking about. If this is your first time on our website, our team […]


--
To keep reading this article, please navigate to: Trading Strategy Guides.

New quarter yet to provide sunshine of hope for global markets

This article was first published on FXTM Global.
- -
This content is synced from the rightful owners. Copyright on text and images belong to the original source.
- -


The opening day of trading for the new quarter is yet to indicate a positive change of weather for global markets, after world stocks concluded the first quarter of 2020 suffering the steepest declines seen since the 2008 global financial crisis. Even with a 20% or more discount available and hanging over a number of different assets taking these items to the checkout doesn’t appear to be the best bargain opportunity and investors are likely to wait for more discounts to become available. Even President Donald Trump has changed his tune on the coronavirus after providing his bleakest outlook... Read More


--
To keep reading this article, please navigate to: FXTM Global.

USDCNH: 7.223 Likely To Complete Major Bullish Impulse Ⓒ

This article was first published on Orbex Forex Trading Blog.
- -
This content is synced from the rightful owners. Copyright on text and images belong to the original source.
- -

The current USDCNH structure indicates that the market is currently forming the final part of a large bullish zigzag consisting of primary sub-waves Ⓐ-Ⓑ-Ⓒ.

Impulse wave Ⓒ consists of five intermediate sub-waves (1)-(2)-(3)-(4)-(5).

Most likely, the first four parts of this pattern were fully completed.

After completing the construction of the sideways correction (4), which took the form of a contracting horizontal triangle A-B-C-D-E, USDCNH began to move up in the initial part of the new bullish wave (5), which could take the form of a simple impulse.

The upcoming growth is possible in the area of the level of 7.223. At that level, intermediate wave (5) will be at 61.8% of previous impulse wave (3).

USDCNH

In this situation, an alternative scenario should be considered, according to which the formation of an intermediate sideways corrective wave (4) has not yet been completed.

If this assumption is correct, then wave (4) can take the form of a triple three consisting of sub-waves w-x-y-x-z o...


--
To keep reading this article, please navigate to: Orbex Forex Trading Blog.

Do Stop Losses Work In Forex?

This article was first published on Orbex Forex Trading Blog.
- -
This content is synced from the rightful owners. Copyright on text and images belong to the original source.
- -

stop loss forex

Put simply and technically, yes. They stop your losses at the level you set.

But that’s not a useful answer for a forex trader. Stop losses are a tool, and what we want to know is if and how we can use that tool to our advantage.

There is a reason that virtually every successful FX trader will recommend using stop losses: they help.

How effective stop losses are will depend on how you use them. There are some strategies that rely on stop losses to work. Others, though, use a stop loss sort of like the airbag in a car. You hope you never have to use it, but it’ll save you if you ever do need it to!

Join our responsible trading community - Open your Orbex account now! 

The Problem with Stop Losses

Sometimes, forex traders can get frustrated with stop losses. They can get so frustrated, in fact, that they blame stop losses for their losses.

Part of this is psychological. As long as the trade is open, even if it’s way into the red, it might, just might, bounce back. Some ...


--
To keep reading this article, please navigate to: Orbex Forex Trading Blog.

Trump Reassures US Despite Surging Death Toll

This article was first published on Orbex Forex Trading Blog.
- -
This content is synced from the rightful owners. Copyright on text and images belong to the original source.
- -

usd trump

In the US, the coronavirus death toll continues to rise. This week, the US reported the number of coronavirus infections rising above 163,000 with over 3,000 reported deaths.

On Monday, the death toll surged by 540 cases, marking the highest number of deaths of the crisis so far in the US. In light of these recent figures, the US now has more recorded cases of coronavirus than any other country.

US Death Toll Passes 1,000

Within the US, New York has been the worst-hit region with over 1,000 deaths reported so far. With the death toll continuing to rise, the lockdowns in place across the US are growing in number.

However, despite the clear intensification of the situation there, President Trump has been quick to downplay the threat from coronavirus. He also reassured the nation that the country has more than enough resources to cope with the unique requirements of the situation.

Speaking at the Coronavirus Task Force briefing held at the White House this week, Trump said:

“We have...


--
To keep reading this article, please navigate to: Orbex Forex Trading Blog.