31FX – This week highlights the ongoing impact of the coronavirus on US, European and Chinese markets. This is after a punishing five days in which global equities registered their worst weekly showing since 2008, investors need to brace for another busy news week.
Here’s what you need to know:
U.S. and European Stock Market Tumbles
Last week, the world witnessed both the US and European stocks took a tumble for the worst as fears of the ongoing outbreak of the coronavirus rattle investors. This was not seen since 2008.
March 3 will be a pinnacle day for the Democratic primary calendar. This is because 14 states will hold their primaries with Bernie Sanders who is currently the frontrunner in this year’s elections.
Chineses PMI and trade figures will determine the best course of action a clearer image of the impact of the Coronavirus impact on Asia’s largest market economy.
OPEC Meeting in Vienna
OPEC Ministers will gather in Vienna on Thursday. Global oil demand will be a topic as crude prices plummeted due to the coronavirus outbreak. Saudi Arabia is pushing for a substantial cut in oil production.
Economists have forecasted the US has created 190,000 jobs, down from 225,000 in January, so it will be expected that hiring in America has cooled down this February.
Take advantage of the market’s near volatile movement by trading in Forex or CFDs.
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