Italy has put 16 million people in Lombardy and 14 northern and central provinces under quarantine. The Italian economy is likely to see a technical recession as the economic powerhouse of the country is affected until 3 April. Gerit Heinz, Global Chief Investment Strategist at Deutsche Bank, recommends what to do in this case. Key quotes “Overnight Italian PM Conte issued a decree imposing quarantine measures on Lombardy and 14 other provinces in the North and Center of the country.” “Lombardy accounts for 22.1% of Italian GDP (2018 numbers) and the affected regions belong to a large extent to the industrial core of the country. While roughly a quarter of the population is affected, the respective regions and provinces could account for one third of the country’s GDP. The measures will last until 3 April.” “Italy has seen a negative growth number of -0.3% qoq in Q4 2019 and a technical recession seems unavoidable. But the impact of the COVID-19 spread will have a broader impact and global growth is likely to take a hit in the first half of the year pushing full year 2020 growth rates down as well.” “We expect volatility to continue and apart from the short term noise it remains important to focus on mid to long term goals. Portfolios should be well diversified along the lines of our recommended asset allocation, where we have cautious stance. While further setbacks are possible, given latest newsflow, markets could also react to coordinated counterbalancing measures, why it remains important to follow a robust asset allocation process.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next USD/JPY: 2-year range base eroded – Commerzbank FX Street 3 years Italy has put 16 million people in Lombardy and 14 northern and central provinces under quarantine. The Italian economy is likely to see a technical recession as the economic powerhouse of the country is affected until 3 April. Gerit Heinz, Global Chief Investment Strategist at Deutsche Bank, recommends what to do in this case. Key quotes “Overnight Italian PM Conte issued a decree imposing quarantine measures on Lombardy and 14 other provinces in the North and Center of the country.” “Lombardy accounts for 22.1% of Italian GDP (2018 numbers) and the affected regions belong to a large extent to the… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.