The main contract for Shanghai crude oil futures hit its daily limit on Wednesday as international oil prices continued to tumble on Tuesday following Monday’s epic collapse. Gold has also been dragged down by the recent plunge in oil prices, with international gold prices falling nearly 2 percent to a near two-week low on Tuesday, and spot gold rebounded modestly to around $1,690 in early Asian trading on Wednesday. The global outbreak, global COVID – 19 accumulative total number of confirmed cases of more than 2.56 million cases, accumulated over 820000 cases of the patients in the United States, the President of the United States the latest trump made a big decision, said trump, he will be a temporary ban on legal immigrants to the United States, the implementation deadline for at least two months, in order to help unemployed Americans in the new crown crisis, then according to the state of the economy to evaluate whether the need to delay.
Trump has suspended legal immigration to the us for 60 days
According to the latest statistics, the global total number of confirmed COVID 19 cases has exceeded 2.56 million and the total number of deaths has exceeded 170,000. 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 820,000.
According to the real-time statistics released by Johns Hopkins university in the United States, as of 8:38 on April 22, Beijing time, the global COVID 19 cumulative confirmed cases of more than 2.56 million, reached 2561915, the cumulative number of deaths reached 177200. The United States had the highest number of confirmed COVID 19 cases in the world, with 824,147 and 44,999 deaths, exceeding 820,000.
US President Donald trump announced at a White House briefing on the outbreak on April 21 that he plans to issue a 60-day executive order suspending immigration of foreign nationals to the us. Mr Trump said the order would only apply to people applying for permanent residency and would not affect short-term visitors.
The order only applies to green card applicants and is valid for 60 days, the Washington post reported. It does not affect the entry of temporary workers on non-immigrant visas into the United States.
Mr. Trump said the move was in response to a surge in unemployment caused by the new outbreak, and that the policy would ensure more jobs for americans who lost their jobs.
“By suspending immigration, we will help unemployed americans find jobs when the American economy reopens,” trump said. “It is wrong and unfair for new immigrants from abroad to replace americans who have lost their jobs because of the virus. We have to take care of American workers first.”
Mr Trump said farmers and workers would not be affected and promised to “find ways to make it easier for these workers to go to work on farms”.
Commenting on Mr Trump’s latest decision, the Washington post said it was unprecedented and Mr Trump offered an economic justification: he believed he wanted americans to be able to go back to work when millions had lost their jobs because of the outbreak.
Trump could sign the order as early as April 22, local time, according to White House officials.
The head of the centers for disease control and prevention, Robert redfield, said on April 21 that the start of winter in the United States could usher in a second, more severe outbreak, with the overlap of the flu season and the new pandemic threatening “unimaginable” strains on the health care system.
Redfield said governments at all levels should use the months to prepare, including improving their detection and monitoring capabilities.
The us department of homeland security on April 20 announced a 30-day extension of “non-essential travel” restrictions on the us border with Canada and Mexico in response to a new outbreak.
Us vice President mike pence, head of the White House COVID 19 response team, said in an interview that the federal government will continue to encourage state governments to restore normal life in individual states while ensuring safety. Having opened up all the testing laboratories in each state, we are confident that all states will have the conditions to lift the restrictions as soon as possible.
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.”
Other major overseas countries, Spain COVID – 19 accumulative total of 204178 cases of the patients, Italy has confirmed 183957 cases, confirmed 158050 cases of France, and Germany has confirmed 148291 cases, the diagnosis of 129044 cases, Turkey has confirmed 95591 cases, Iran has confirmed 84802 cases, Russia has confirmed 52763 cases, Brazil has confirmed 43079 cases, Belgium has confirmed 40956 cases, Canada has confirmed 38210 cases, the Netherlands confirmed 34134 cases over the Swiss confirmed 28063 cases.
In China, from 0:00 to 24:00 on April 21, 31 provinces (autonomous regions and municipalities directly under the central government) and xinjiang production and construction corps reported 30 new confirmed cases, of which 23 were imported from abroad and 7 were from China (7 from heilongjiang province). No new deaths; Three new suspected cases were imported from abroad.
As of 24:00 on April 21, according to reports from 31 provinces (autonomous regions and municipalities directly under the central government) and xinjiang production and construction corps, there were 1,005 confirmed cases (78 of them severe), a total of 77,151 cured and discharged cases, 4,632 dead cases, 82,788 confirmed cases and 35 suspected cases. A total of 727,589 close contacts were traced, and 8,796 close contacts were still under medical observation.
A lack of solidarity is fuelling the epidemic, and “the worst is coming,” world health organization (WHO) director general dimitri tandesay said at an April 20 news conference in Geneva.
A novel coronavirus is a very dangerous virus. “Don’t use this virus as an opportunity to fight each other or to score political points,” he urged. It’s dangerous. It’s like playing with fire.” Tan warned that “the worst is yet to come” if there is no greater solidarity within and between countries.
Gold meets’ pig teammate ‘as oil prices continue to plunge
On Tuesday, brent crude futures plunged 25% to their lowest level in nearly two decades. WTI crude for June settled at $11.57 a barrel, its lowest level since February 1999, after falling about 70 percent during the session.
Oil prices plunged in New York on April 20, weighed down by a huge glut in the U.S. oil market, the imminent expiration of contracts and a decision by Texas on whether to cut production. U.S. WTI crude fell into negative territory for the first time in its history in May, closing down 306 percent at $37.63 a barrel.
U.S. WTI crude hit an intraday low of $40.32 a barrel on May 20. That is well below the lowest level since the end of the second world war, when monthly data began in 1946, according to the st. Louis fed.
On Wednesday, the main contract for Shanghai crude oil futures opened down the daily limit at 210.6 yuan per barrel.
Gold prices fell nearly 2 per cent in intraday trading on Tuesday to a near two-week low as investors rushed to cash in to make up for losses in other asset classes, which have been hurt mainly by the collapse in the oil market.
Spot gold rose as high as $1, 697.30 an ounce on Tuesday and dipped as low as $1, 659.68 to close at $1, 685.90, down $8.92, or 0.53 percent.
According to an article on Economies.com, gold briefly fell below $1,678.45 an ounce on Tuesday and is now back above that level. Investors need to be wary of the coming trade, and gold’s bullish scenario will continue if prices stay above those levels.
Should gold fall below $1,678.45 an ounce, that would put bearish pressure on the metal, with the $1,635.80 level being the first to be targeted, Economies.com added.
The plunge in us crude oil prices and dismal corporate earnings sent stocks tumbling around the world, raising fears that the global economy would suffer lasting damage from a pandemic.
Gold has sometimes moved in tandem with equities recently, especially as a sharp sell-off in the broader market has forced investors to sell precious metals to meet margin requirements and cover losses.
“Oil really took the whole commodity market down,” said Bob Haberkorn, senior market strategist at RJO Futures. “A lot of people are selling lucrative positions and waiting to see if energy spreads further into precious metals.”
FXTM analyst Lukman Otunuga said: “the historic drop in oil prices and heightened fears of a severe global recession could trigger another wave of demand for capital, with gold facing a downward shock as the dollar rises. “While an adverse global macroeconomic environment, the turmoil surrounding the outbreak of coronavirus and the gloomy outlook for the oil market may accelerate the flight to safety, gold may not be the preferred safe investment destination for investors.”
However, analysts said gold was likely to continue to be supported by a series of stimulus measures by central Banks to ease the economic damage caused by the new coronavirus outbreak, as well as money flowing into exchange traded funds.
Holdings of the SPDR Gold Trust, the world’s largest Gold ETF, are at their highest level in more than three years.