Forex Marketz Daily Forex News – Fully Markets Update
The Asian and Pacific Rim markets were lower by mid-morning, Hong Kong time, as Asian traders worry about a rise in Covid-19 (coronavirus) infections in China and other regional nations.
Also weighing on market participants, ongoing and continuing violent riots across the United States. Protestors in Atlanta, Georgia burned down a restaurant where am African American male was shot and killed by the police.
The police officer who shot the suspect, after the suspect grabbed the officer’s Taser has been fired. The Police Chief in Atlanta has resigned.
In Japan, the headline Nikkei 225 was down about 0.65 percent. The broader Topix index, in Tokyo, gave up 0.33 percent.
Across the Korean Strait, the South Korean Kospi composite index was down 0.68 percent and elsewhere in the Asian and Pacific Rim, the Australian S&P ASX 200 was down 0.33 percent.
Asian Forex Traders support the Safe haven U.S. Dollar
The U.S. dollar index, which measures the greenback in a basket against six other Forex units, was last trading at 97.17. The dollar index closed at 96.50 last week.
The Japanese yen, in the headline USD/JPY Forex market, was last trading at 107.30 yen. The dollar had strengthened to 108 yen last week.
The AUD/USD currency exchange rate was last trading at 0.6828 as it fell from 0.6930.
Traders Monitor Covid-19 Developments
Traders and other financial market participants are watching Covid-19 (coronavirus) developments as regional economies start to slowly reopen. This will be a recurring theme most of the week if not month.
A district in Beijing, the capitol of China, is now on a “wartime emergency” after a cluster of new coronavirus infections were discovered. This cluster was found at a wholesale market in the city.
In the United States, Texas and North Carolina have now reported a record number of Covid-19 hospitalizations as of Saturday. New York and Florida are also reporting new coronavirus infections.
