The Euro is down more than 1% to the Yen during early Monday trading in Europe. The flight to safety is obvious, with refuge assets recording gains following the deterioration of the outlook in Europe, especially as Italy imposed draconian containment measures, with 16 million people now being quarantined. The markets are looking at what is happening in Italy as a sign of what may be coming elsewhere in Europe, as the virus continues to spread. It is difficult to gauge what the actual impact of the disease and the measures to contain it will have on the global economy and, faced with growing uncertainty, investors are seeking refuge in traditional safe havens. It is also important to mention that the mood of risk aversion in the foreign exchange markets and across the board on all assets has been compounded by oil’s dramatic plunge, which has fallen in excess of 20% from Friday’s closing price.
Has undertaken a number of senior roles in his current employer including running the international desk, responsible for managing sales, customer services and marketing functions for a number of territories, as well as acting as a regular public speaker at events and contributor to TV and other media through interviews and market analysis. Since November 2016 he has been the Senior Executive Officer (SEO) of ActivTrades Dubai branch, having overall management responsibility of the branch. Prior to joining ActivTrades Ricardo worked in the IT and Financial industries.
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© 2019 High Leverage FX - All Rights Reserved.