The COVID 19 outbreak in the United States worsened sharply over the weekend, with at least 21,000 cases confirmed in the United States, and that number is expected to rise in the coming weeks. Affected by this, on Monday (March 23) in the Asian market, the U.S. stock futures opening “down limit”, south Korean stock market hit a down circuit, crude oil at one point down 5 percent, spot gold jumped at the opening after a sharp fall, silver resumed its decline.
Silver, which hit a low of $11.62 last week in an attempt to stabilize, is hovering above $12.60 and had earlier fallen to around $12.25.
The outbreak in the United States escalated rapidly over the weekend. A total of 32,717 confirmed cases, 409 deaths and 178 cured cases of covid-19 were reported in the United States as of 6 p.m. Edt on March 22, according to a real-time statistical system of covid-19 data released by Johns Hopkins university. In less than 18 hours Tuesday, 6,670 new cases were confirmed in the United States.
There have been cases in all 50 states and the nation’s capital, with New York the worst hit, with 15,793 confirmed cases and 117 deaths. They were followed by Washington state, which has 1,996 confirmed cases and 95 deaths, New Jersey and California. New Jersey has 1,914 confirmed cases and 20 deaths. California has 1,648 confirmed cases and 30 deaths.
Officials in hard-hit states, including New York, have warned of a possible shortage of protective equipment. A hospital in Washington state says it could run out of ventilators by early April if the outbreak continues to worsen and new equipment is not available.
New York City mayor Bill DE Blasio on Sunday described the outbreak as the biggest domestic crisis since the great depression and called on the U.S. military to mobilize to prevent the health care system from becoming overwhelmed.
“If we don’t get more ventilators in the next 10 days, people who didn’t have to die will die,” DE blasio said. The number of cases of novel coronavirus in the most populous U.S. city has exceeded 15,000, and the number of deaths has climbed to more than 100.
Columbia University researchers use a database of known cases of the New York times and the census bureau traffic data inference with the possible development trend, they concluded that: even if the U.S. can spread the virus slowed 50% – this is a difficult task – in the next two months, still have about 650000 people will be infected.
The increase was driven by people with mild symptoms who spread the virus without knowing they were carrying it, the researchers said. Researchers estimate that the number of undetected infections is 11 times the number officially reported, reflecting how far the United States has fallen behind in detecting the virus.
The Associated Press reported on March 22 that seven months before the election, trump’s re-election campaign may be affected by americans’ fear of job losses, business bankruptcies and illness, which will require trump to make key changes and decisions. Mr Trump has repeatedly made the rise in us stocks and the strength of the us economy central to his re-election campaign.
With the U.S. economy in such turmoil, the presidential election in November is uncharted territory, said Robert Stein, an economist and former Treasury Department official at First trust Advisors. He told the Associated Press that he expects the U.S. economy to contract at a 15% annual rate in March and April, again in May, before recovering in June.
On the daily chart, the dollar index initially rose to 102.97, close to the 103 level, before quickly falling back to around 102 to focus on liquidity. On the technical side, MACD red kinetic energy column after a rapid expansion of stability, RSI index since the overbought level fell, KDJ random index is still in the overbought level area, suggesting that prices may be high consolidation.
On the 4-hour chart, the dollar index began to consolidate after hitting 103 and is still above its main moving average, with fundamentals dominating. In technical terms, the MACD green kinetic energy column slightly expanded, RSI index fell back below the overbought level, KDJ random index hovering below the overbought level, short or continue to shock.
On the daily chart, silver is stabilizing after hitting a low near $11.61 and is trading around $12, still below its main moving average. In technical terms, MACD green kinetic energy column gradually contracted, RSI index hit oversold level, KDJ random index in oversold level, short-term price or continue to shock.
On the 4-hour chart, silver is still in a choppy uptrend from its low of $11.61. Whether this trend can be sustained depends on whether a further uptrend low can be formed. In technical terms, MACD red kinetic energy column stable, KDJ random index hovering above the 50 levels, short term is expected to continue to stabilize.
fundamentals Positive factors :
- The number of confirmed cases of a novel coronavirus in the United States stood at 33,073 as of 8:43 p.m. Edt, with a total of 416 deaths and 178 cures, making it the third most confirmed country in the world, according to Johns Hopkins University. Meanwhile, a total of 59,000 has been diagnosed in Italy.
- When Asian markets opened on Monday (March 23), U.S. stock futures quickly fell more than 5%, touching the downside circuit breaker limit. Among them, dow futures fell 5.01 percent, s&p 500 futures fell 5 percent and NASDAQ futures fell 4.88 percent.
- At a White House news conference on Sunday, March 22, local time, U.S. President Donald Trump announced that he would deploy federal national guard troops to help combat the outbreak in hard-hit states like Washington, California and New York. Mr. Trump said the region was entering a major disaster zone, allowing the federal government to provide more intensive assistance to those states.
- On March 22, German government spokesman Steffen Seibert announced that a doctor who had given Merkel a pneumococcal vaccine had been diagnosed with a coronavirus on Friday, shortly after Merkel announced the new measures. Seibert said Merkel would undergo multiple tests in the coming days and would remain at home for business during the quarantine. He said Merkel had no symptoms of discomfort.
Fundamental negative factors:
On March 23, Treasury Secretary Steven Munchin recently said he was close to reaching an agreement on a stimulus bill.
- The European central bank’s announcement of a €750 billion ($817 billion) program of asset purchases to combat the outbreak of the coronavirus spurred risk sentiment.
- According to a Treasury memo obtained by the Washington Post, the Treasury’s covid-19 stimulus plan is aimed at $1 trillion, including $2,000 in checks for Americans. The plan could also include $300 billion to help small businesses avoid mass layoffs.