The cumulative number of confirmed cases in the United States is close to 470,000! Another $2.3 trillion from the fed! The dollar crashed on Thursday! Gold surge bulls aim for 1700!

The dollar index fell sharply on Thursday as the federal reserve unveiled its latest stimulus measures, while spot gold surged to as high as $1,690 an ounce, with gold bulls targeting $1,700 an ounce in the short term. In terms of the global epidemic, the total number of confirmed COVID 19 cases worldwide has exceeded 1.6 million, and the total number of deaths has exceeded 95,000. The total number of confirmed COVID 19 cases in the United States is close to 470,000. In addition to continuing to keep an eye on the global outbreak, investors will be greeted by U.S. CPI data on Friday night, Beijing time.

Another big move by the federal reserve as the dollar plunges and gold prices soar

As the us battles a coronavirus pandemic, the federal reserve on Thursday unveiled a broad $2.3tn initiative to support local governments and small and medium-sized businesses. It is the fed’s latest effort to keep the U.S. economy intact. The American economy has been hamstrung by public health measures aimed at stopping the spread of the coronavirus.

The fed’s action included details of its major business lending program and several other steps to shore up the faltering U.S. economy. The fed also provided more details on its market interventions, including plans to buy corporate bonds at the investment-grade level and high-yield, or junk, bonds. Under terms first outlined, the loans will be available to companies with no more than 10,000 employees and $2.5 billion in revenue in 2019.

The dollar fell broadly Thursday after the federal reserve gave more details on how it would support the economy in the event of a coronavirus pandemic. The dollar index.dxy fell more than 80 points to a one-week low of 99.36 on Thursday before recovering slightly to close at 99.55.

Fed chairman colin Powell said the central bank would continue to use all available tools until the U.S. economy began a full recovery from the virus outbreak, although he acknowledged the fed’s limited powers.

The fed has cut interest rates to near zero, while at the same time pumping trillions of dollars into the economy.

Early Thursday morning Beijing time, the federal open market committee on Wednesday released minutes of its March 15 meeting, at which the fed cut its benchmark interest rate to near zero.

The minutes reflect concern among fed officials about the impact of the coronavirus on the economy. “All participants agreed that the outlook for the us economy had deteriorated sharply in recent weeks and had become very uncertain,” the minutes said.

Gold surged more than 2 per cent on Thursday to its highest level in a month on the back of the fed’s latest massive stimulus. Spot gold rose as high as $1,690.03 an ounce in Thursday trading to close at $1,682.25, up $37.86 or 2.3 percent. Spot gold is up 4 per cent so far this week.

Tai Wong, head of basic and precious metals derivatives trading at BMO, said: “the fed has introduced another howitzer that is very helpful to small and medium-sized businesses and municipalities. Gold is up because the monetary generosity will eventually need to be repaid, and that repayment could suddenly be higher inflation at some point in the future.”

‘gold continues to rise and is close to our main waiting target of $1703.25 an ounce,’ wrote Economies.com. We expect further gains in the short to medium term.

A break above $1703.25 an ounce would be a key factor in a major gold price target of $1770.00 an ounce, the article said. Unless gold falls below $1,644.20 an ounce and stays below that level, bullish expectations will remain valid, Economies.com added.

At 20:30 Beijing time on Friday, investors will be greeted by U.S. inflation data for march, the most important economic indicator of the day.

The U.S. consumer price index is expected to rise at a 1.6 percent annual rate in March from a 2.3 percent rise in March, according to media surveys. The U.S. core consumer price index is expected to rise at a 2.3 percent annual rate in March from 2.4 percent.

U.S. retail sales will be key next week as the market sees for the first time the impact of a novel coronavirus shutdown on the retail sector. The march data are due next Wednesday.

“The danger now is that we could see more of a w-shaped recovery than a v-shaped recovery,” said Bart Melek, head of global strategy at td securities. In terms of a pandemic, we are certainly not out of the woods. We’re still going to get some negative data.”

Kieran Clancy, assistant commodities economist at capital economics, said: “in terms of virus Numbers, many countries are a long way from their peak. This uncertainty will continue to be positive for gold.”

The gold market has looked strong this month, and many analysts expect prices to continue rising in the second, third and fourth quarters.

Phillip Streible, chief market strategist at Blue Line Futures, expects gold to average $1,750 in the second quarter, $1,850 in the third and $2,000 in the fourth.

“The fed’s tools are pretty limited and it looks like it’s going to let inflation continue, which is a big thing for gold in the long run,” Streible said. The fed says it is not worried about inflation. That really opened the floodgates for gold. I think gold will look better in the next few quarters.”

Standard chartered bank analyst Suki Cooper also expects further gains in the short term, forecasting an average of $1,725 in the second quarter.

Globally, the total number of confirmed COVID 19 cases has exceeded 1.6 million

According to the latest statistics, the global total number of COVID 19 cases has exceeded 1.6 million, and the total number of deaths has exceeded 95,000. The cumulative number of confirmed COVID 19 cases in the United States is close to 470,000.

The United States has the highest cumulative number of confirmed cases and the second highest number of deaths after Italy (18,279). Spain has the second highest number of confirmed cases after the United States.

Worldometers world real-time statistics show that as of 9:38 PM Beijing time on April 10, a total of 1603,719 confirmed covid-19 cases and 95,722 deaths were reported globally. The United States has the world’s largest number of cumulative confirmed COVID 19 cases, with more than 460,000 cases, 468,566 cases, and 16,691 deaths. The covid-19 outbreak has covered all 50 U.S. states, Washington, d.c., and extraterritorial territories.

New York state is the worst affected state in the United States. New York state reported 799 new deaths in the past 24 hours, the largest increase since the outbreak began, bringing the total to 7,067, governor Andrew cuomo said on Tuesday.

US President Donald Trump said at a White House press conference on April 9 that he is seeing encouraging signs on a novel coronavirus treatment plan. The economy will recover and there will be a “big bounce” after the outbreak is over. Mr. Trump also stressed that the outbreak in the New York area showed signs of easing and that the federal government would continue to help. Moreover, Mr. Trump said he looked forward to restarting the us economy as soon as possible.

US President Donald trump on Thursday approved the declaration of public health “disaster status” in Alaska and Idaho, bringing the us state of Wyoming to the top of the list.

In terms of the domestic epidemic situation, 42 new confirmed cases were reported in 31 provinces (autonomous regions and municipalities directly under the central government) and xinjiang production and construction corps from 0:00 to 24:00 on April 9, among which 38 cases were imported from overseas and 4 from local areas (3 from guangdong province and 1 from heilongjiang province), according to the latest announcement of the national health and human resources commission on Friday. 1 new death case (1 case in hubei province); Three new suspected cases were imported from abroad (2 from Inner Mongolia and 1 from Shanghai).

By 24:00 on April 9, according to reports from 31 provinces (autonomous regions, municipalities directly under the central government) and xinjiang production and construction corps, there were 1,116 confirmed cases (including 144 severe cases), a total of 77,455 cured and discharged cases, 3,336 dead cases, 81907 confirmed cases and 53 suspected cases. A total of 717,378 close contacts were traced, and 11,176 close contacts were still under medical observation.

Other major overseas countries, Spain COVID – 19 accumulative total of 153222 cases of the patients, Italy has confirmed 143626 cases, Germany has confirmed 118181 cases, confirmed 117749 cases of France, and Iran has confirmed 66220 cases, the diagnosis of 65077 cases, Turkey has confirmed 42282 cases, Belgium has confirmed 24983 cases, Switzerland has confirmed 24051 cases, the Netherlands confirmed 21762 cases, Canada has confirmed 20765 cases.

British prime minister Boris Johnson was in good spirits and was taken to intensive care on Sunday evening, a downing street spokesman said, sky news reported.

On March 27, Johnson pleaded guilty to testing positive for novel coronavirus and was in self-quarantine. Mr Johnson’s condition deteriorated and he was transferred to intensive care at st Thomas’ hospital in London on the recommendation of a medical team, downing street said on April 6.

The global spread of the virus has overwhelmed health systems, damaged the global economy and led to social chaos, with COVID 19 estimated to be 10 times more deadly than influenza, who director-general tandeser said on Thursday.

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