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According to the latest report published by the World Trade Organization (WTO) on Wednesday, its goods trade indicator fell to the weakest on record on account of the coronavirus pandemic disruptions.

Key points

“Global goods trade was likely to fall “precipitously” in the first half of 2020.”

“The indicator, launched in July 2016, fell to 87.6 from 95.5 in February.”

Market reaction

The market mood already remains tepid amid rising US-China and Australia-China tensions while the virus led global economic gloom also continues to dampen the investors’ sentiment.

USD/JPY flirts with daily lows near 107.60, having faced rejection at 108.00. AUD/USD, on the other hand, consolidates gains around 0.6550. The European equities are reversing early losses, still remain vulnerable.