Search ForexCrunch

The French have confirmed coronavirus cases rise to 16,018 according to a health official and the Covid-19 death toll in French hospitals has risen to 674. This follows yesterday’s rise of 112 deaths in a single day and in the 5th day of lockdown. The fast-spreading disease that jumped from animals to humans in China has now infected 328,275 people across the world and caused 14,366 deaths, according to Johns Hopkins University, triggering emergency lockdowns and injections of cash unseen since World War Two.

Market implications

There is a flight to cash and the US dollar, taking the DXY a pip away from the 103 handle last week and sending the S&P 500 down to a 38.2% Fibonacci retracement of the GFC recovery.