Here is what you need to know on Monday, February 24: Coronavirus: The respiratory disease continues spreading and is taking its toll. Chinese President Xi Jinping has sounded the alarm over the outbreak at the Communist Party’s gathering. His words contrast the upbeat mood of last week. Areas in northern Italy’s industrial heartland have been put under lockdown due to a significant cluster of cases. The Venice Carnaval has been canceled. In South Korea, the number of cases related to a religious sect in the south of the country is growing. Risk-off: S&P futures, most Asian stocks, commodity currencies, and oil are down on Monday. AUD/USD temporarily hit a new decade low, below last week’s trough. While the Japanese yen is mostly unchanged, Gold prices have extended their gains, hitting a high of $1,680. Against the euro and the pound, the US dollar is recovering a significant chunk of its losses on Friday. US data: While most of last week’s American figures beat expectations, Markit’s preliminary Services Purchasing Managers’ Index shocked by dropped below 50, allowing an opportunity to take profits on dollar gains. EUR/USD is trading closer to 1.08 ahead of the German IFO Business Climate figures for February. A slide from January’s 95.9 is likely. Regional elections in Hamburg have dealt a blow to Chancellor Angela Merkel’s CDU Party. Brexit: Experts warn that if the UK reneges on pledges related to Northern Ireland, it could risk trade agreements with the US and the EU. Saudi Arabia denied it is contemplating breaking away from Russia amid disagreements regarding oil production in the wake of the coronavirus crisis. Cryptocurrencies are sliding on Monday yet remain in familiar ranges, with Bitcoin trading around $9,700. 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 Expert score 5 Etoro - Best For Beginner & Experts0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 5 Read Review Open My Free Account Your capital is at risk. FXStreet News share Read Next China’s 24 provincial-level regions reported no new confirmed coronavirus cases – People’s Daily FX Street 2 years Here is what you need to know on Monday, February 24: Coronavirus: The respiratory disease continues spreading and is taking its toll. Chinese President Xi Jinping has sounded the alarm over the outbreak at the Communist Party's gathering. His words contrast the upbeat mood of last week. Areas in northern Italy's industrial heartland have been put under lockdown due to a significant cluster of cases. The Venice Carnaval has been canceled. In South Korea, the number of cases related to a religious sect in the south of the country is growing. Risk-off: S&P futures, most Asian stocks, commodity currencies, and… Top 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.
