Forex Marketz Daily Forex News – Fully Markets Update
European benchmarks are getting ready to ring the opening bell as the week comes to an end. Sentiment has improved, not only with European traders but global market participants, after the World Health Organization (WHO) reassured the world by saying that there is “no global emergency” as of yet with the deadly coronavirus,
According to market futures, the European benchmark in London, the FTSE, is seen opening 51 points higher. In France, futures are pointing to an open of 43 points higher on the CAC 40 and in Germany, futures are showing the DAX should open 115 points higher when trading begins Friday morning.
This was not a good week for global equities as traders were worried about the spread of the deadly coronavirus out of China. Over 800 cases have been reported and 25 deaths.
Global traders are worried about the potential economic damage as global travel could be impeded as nations react to stop the virus from reaching a pandemic level. The virus is already in the United States.
European Traders wait on PMI Data to come out Later Today
Traders are still concerned about the viral infection that originated in China about one month ago, The total number of coronavirus cases, around the world, is now over eight hundred. There are at least 14 cases now outside China and over twenty people have died.
This coronavirus is bringing back old fears of the 2002-2003 outbreak of the severe acute respiratory syndrome (SARS) virus. This also originated in China.
On the economic calendar for today, traders are waiting on a whole slew of flash services and manufacturing purchasing managers’ indices (PMI) on the docket.
Out of the Eurozone, France and Germany will be publishing their flash PMIs. The United Kingdom is also set to release manufacturing and services PMIs as is the United States.
Traders are also monitoring the political situation in the United States. The impeachment trial of President Donald Trump continues in the Senate.
It is not very likely that he will be removed from office but the political divide in the U.S. is deepening as they head into elections.
