The World Health Organization (WHO) Sends Another Strong Warning to the Market

The World Health Organization (WHO) have issued another warning to the markets, with their growing concerns grading the pace at which Covid-19 is rising.

In a news conference led by WHO director-general Dr Tedros Adhanom Ghebreyesu, he said that the COVID-19 pandemic is "accelerating" and a record number of new cases in a single day.

Reporting that some 150,000 new cases, the highest in a single day and nearly half of those in the Americas.

The director said:

The world is in a new and dangerous phase. The virus is still spreading fast, it is still deadly, and most people are still susceptible.

Latest numbers now suggest that there have been more than 8.5 million cases in total, with nearly half a million deaths, since the virus first gained international attention in January. The United States has the most number of cases worldwide, with about 2.2 million cases and at least 118,000 deaths.

Brazil has the world’s worst outbreak outside the United States, with 978,142 confirmed cases and 47,748 deaths. Elsewhere in the Americas, Chile and Peru have both reported more than 230,000 cases at this time.

What does this mean for markets?

Back in March, the markets already got a taste for investor behaviours due to the Coronavirus spreading. There were big flights into safe-haven FX; USD, JPY, riskier FX were hit hard; AUD, NZD, GBP. In terms of theme, it does look likely that we could continue to see flights into the safe-haven FX, and rallies/pullbacks in riskier FX being capped. For more on how to implement such fundamentals and trade ideas, please check out our membership.



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