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AUD/USD and NZD/USD – Global Coronavirus Surge Weighing on Demand
Demand for Risky Assets Pauses as Virus Worries Mount Global stocks tumbled last Thursday and bonds rallied on fears a rise in new coronavirus cases could hurt a rush to open economies. Lockdown measures to curb the virus’ spread had triggered a prolonged economic slowdown, a threat investors broadly looked past in recent weeks as they focused on improving data and support from the U.S. Federal Reserve. Fed Chairman Powell on Wednesday said it was evident that if there were a second wave of the virus, it could hurt the economic recovery. Still U.S. Treasury Secretary Steven Mnuchin said on Thursday the United ... (full story)