On Friday (April 17) sub-market morning, the dollar index to maintain losses, below the 100 mark, is now around 99.85; Spot gold has rebounded sharply after plunging to nearly $1,700 an ounce and is now trading around $1,717. Early Friday morning Beijing time, U.S. President Donald trump released guidelines allowing the U.S. economy to reopen in three stages. In terms of covid-19 epidemic, the global cumulative number of confirmed covid-19 cases has exceeded 2.18 million, the cumulative number of confirmed covid-19 cases has exceeded 670,000 in the United States, and the death toll in the United States hit a single-day high on Thursday.
The dollar index fell below 100 as Donald trump announced plans to restart the economy
US President Donald trump on Thursday (April 16) released guidelines allowing the us economy to reopen. Trump said the us had passed the peak of COVID 19 and that healthy americans were returning to work if conditions allowed.
Federal guidelines allow for a gradual economic and social restart in three phases, each expected to last 14 days, before the outbreak worsens:
1) in the “first phase”, people continue to telecommute as much as possible, return to work in stages, reduce unnecessary travel, and maintain social distancing measures;
2) in “phase ii,” nonessential travel could resume in states with no signs of a rebound, schools and organized youth activities could be reopened, and bars, gyms, and large venues could be reopened with social distancy measures.
3) in “phase 3”, vulnerable people can resume taking public transport, but should keep their distance, and low-risk people should consider minimizing the time they spend in crowded areas.
Speaking at a White House news conference, Mr Trump said he expected the number of us deaths from the outbreak to end up lower than the administration’s previous “best case” estimate, given the results of a series of preparedness efforts.
Mr Trump said some states had until May 1 to reopen businesses and open schools.
The dollar came under pressure after President Donald trump issued guidance on restarting the economy.
In early Asian trading on Friday, the dollar index fell below the 100 mark, touching a low of 99.83. On Thursday, the U.S. market hit an intraday high of 100.31.
Andrew Wilson, chairman of global fixed income at Goldman sachs asset management, said: “in the short term, the dollar is expected to remain strong due to its safe-haven status and continued uncertainty over the global economy. “We expect the dollar to underperform over the medium term as the economy begins to recover.”
Spot gold fell as low as $1,701.80 an ounce in the short term after the economic guidance was released, before bouncing back to around $1,717.
“The main story remains that gold is fairly well supported in an environment of unprecedented central bank and fiscal stimulus by governments around the world,” said David Meger, head of metals trading at High Ridge Futures.
As long as gold stays above $1700.00 an ounce, its bullish view will remain valid in the coming sessions, according to an article on Economies.com. From the 4 hour chart, EMA 50 indicator to the gold price support.
Economies.com warns that its next major target for gold is $1,775.00 an ounce.
“The health, financial and economic uncertainty surrounding the novel coronavirus pandemic and its aftermath is likely to continue to support gold until 2021,” James Steel, chief precious metals analyst at HSBC, said in a report. “We believe that low interest rates, monetary easing and fiscal spending around the world will underpin and sustain the gold rally for the foreseeable future as investors look to gold as an investment target for hard asset characteristics and liquidity.”
The cumulative number of confirmed deaths in the us hit a record high of more than 670,000 in a single day
According to the latest statistics, the global total number of COVID 19 cases has exceeded 2.18 million and the total number of deaths has exceeded 145,000. At present, the number of confirmed cases has exceeded 100,000 in six countries in the world. Among them, the United States is still the country with the largest number of confirmed cases in the world, with the total number of confirmed cases exceeding 670,000.
Worldometers world real-time statistics show that as of 7:55 PM Beijing time on April 17, global covid-19 cumulative confirmed cases of over 2.18 million, reached 218,000 3 cases, the cumulative number of deaths reached 145,417 cases.
The United States has the world’s largest number of cumulative confirmed COVID 19 cases, with 677,056 cases and 34,580 deaths, exceeding 670,000. The number of deaths in a single day in the United States hit a new high on the 16th, data showed.
New York state is the hardest-hit state in the United States, with 223,231 confirmed cases and 14,198 deaths, according to data released by Johns Hopkins university on April 16.
According to data released by the us department of defense on April 16, 2, 889 military personnel tested positive for novel coronavirus as of 5 PM est on April 16, including 2 fatalities, CNN reported. The department of defense now has at least 4,695 confirmed cases.
US President Donald Trump on April 11 declared Wyoming a “state of major disaster” for the new outbreak. For the first time in U.S. history, all 50 states, Washington, d.c. and four overseas territories — the U.S. virgin islands, northern Mariana Islands, Guam, and Puerto Rico — are in a “major state of disaster.” Being granted a “major disaster status” would receive federal aid and allow local governments to exercise emergency powers to protect lives, property and public health after a disaster.
Other major overseas countries, Spain COVID – 19 accumulative total of 184948 cases of the patients, Italy has confirmed 168941 cases, confirmed 165027 cases of France, and Germany has confirmed 136569 cases, the diagnosis of 103093 cases, Iran has confirmed 77995 cases, Turkey has confirmed 74193 cases, Belgium has confirmed 34809 cases, Brazil has confirmed 30425 cases, Canada has confirmed 29929 cases, the Netherlands confirmed 29214 cases, Russia has confirmed 27938 cases, Switzerland has confirmed 26732 cases.
Who spokeswoman Margaret Harris told a news conference on April 14 that covid-19 had not yet peaked.
Covid-19 has a fatality rate 10 times higher than the 2009 H1N1 flu, and is more likely to spread in crowded environments, such as nursing homes, who director-general tandeser said on April 13. Cases are doubling every three or four days in some countries.