WATCH: Forex Weekly Review – March 2, 2020

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Welcome to this week’s market roundup brought to you by TopRatedForexBrokers.

Global equity markets witnessed a heavy sell-off last week, as the rapidly spreading new coronavirus cases outside China fueled concerns of a global economic slowdown.

UK markets ended in negative territory, led by losses in consumer discretionary and energy sector stocks.

Currencies

On the currencies side, the USD ended mostly higher against its peers, after the US new home sales rose to its highest level since July 2007 in January.

The EUR ended higher against the USD, after the Eurozone consumer confidence advanced in February.

The GBP ended lower against the USD, after Britain threatened to walk away from the trade negotiations with the European Union if there is no progress by June.

Commodities

Gold prices fell last week, as strength in the US dollar drifted investors away from the safe-haven commodity.

Brent oil prices also fell, as a jump in the number of coronavirus cases in Europe and the Middle East raised fears over the crude oil demand.

Cryptocurrencies had another difficult week, with most major currencies seeing heavy losses across the board.

That wraps up another weekly market update. See you next time.

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