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February 08, 2020
Stock trading is not very easy today, and it is never been easy either. There are many young and also a newcomer to the stock trading, and they must be shocked to see how volatile the market it is.
If you are one of them, then you need to read more news as you can see so many things are happening inside the market, and that is affecting the global sentiment. The market is being driven by the sentiment, and hence you need to understand it first.
The stock prices are never set, as it can change on a mere second. The changes, however, are not very radical, unless there are some extreme things happen such as natural disasters, or in this case, the spread of the virus.
The fear of coronavirus more or less has damaged the trust of the Chinese marketplace and hence you need to start reading a lot of news to navigate yourself inside the market. You can access the news site for more info on the latest news.
The Chinese government is battling the virus today and they have generated a lot of confidence to market as the yuan is strengthened against several foreign currencies including the Swiss franc.
This is a good sign as the market is regaining confidence, but it is safe to say that the sentiment is not final as the virus has not yet been quelled. Several things are also affected by the virus, and they are the following.
1. Fearing of a virus, USD fell
One of the major china trading partners in the US, and as the spread of the virus has not been quelled, many Americans are withdrawing business from china and thus weakening the USD.
Although the two countries have been involved in the trade wars, the virus only exacerbated the situation and hence worsening the dollar itself. By this point, the dollar has been lost 3 points, resulting in the rise of any other currencies against USD.
2. World oil production fell
OPEC is holding a meeting to alleviate the fall in oil production and the rise of oil prices. This can be good for the companies and the business, but overall the rise of oil can trigger some unwanted crises.
The major sentiment of the fall in the oil prices is the coronavirus, as china is one of the OPEC's largest members. Currently, OPEC is setting a target to meet the 500k barrels per day to adjust to the demands and to stabilize the whole prices.
3. Chinese Han Seng index is looking grim
After being hit by the trade war, the coronavirus is also giving a huge blow to the han seng, and the index has been fell by 12 points since the opening yesterday. This is understandable as the investors are losing confidence and hence the people are now converting to the traditional and safer gold standard.
This is a very bleak picture to the market as no one can predict when the virus can be finally quelled, and how the market will keep ongoing.
Looking for the fundamental and technical forecast across the sites, you will feel so much pressure as the market is not regaining a foothold.
There are several measures you can take when you are in the situation, as you either leave the stock market and purchase the gold, or you can brave the market and stay inside until the storm has passed and you can start seeing profit again, it is your call to respond.
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