Fears of a global recession caused by the coronavirus pandemic are increasing as more cases are declared in new countries. This has triggered a flight to safety by investors spooked by the uncertainty over the duration and severity of the crisis. It is therefore not surprising to see the Yen and the Swiss Franc strengthening across the board, noticeably against the US Dollar, with gains of 0.8% and 0.2% respectively.
The recent strength of the Euro versus other majors is also worth noting. The single currency is trading at $1.1041 at the opening of European markets, having climbed more than 2.4% against the greenback over the last seven days (see attached chart). This may be indicative of returning flows to the eurozone by investors that, facing a crisis of unknown proportions, are repatriating the proceeds of positions alienated elsewhere.
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.
© 2019 High Leverage FX - All Rights Reserved.
© 2019 High Leverage FX - All Rights Reserved.