WATCH: Forex Weekly Review – February 17, 2020
Welcome to this week’s market review brought to you by TopRatedForexBrokers.
Global equity markets ended mostly higher last week, as tensions eased as the result of a slowdown in the number of new coronavirus cases in China.
UK markets ended slightly lower in the last week after the UK declared the coronavirus epidemic as a serious and imminent threat to public health.
On the currencies side, the US dollar ended mostly lower against its peers, after the US JOLTS job openings surprisingly fell to its lowest level in two years in December.
The EURO ended lower against the US dollar, after the Euro-zone industrial production declined more than anticipated in December, and the British pound ended higher against the USD, amid hopes of a higher-spending budget next month after the appointment of Rishi Sunak as the British Chancellor.
Gold prices rose last week, as fears over the impact of the coronavirus continue to push investors to seek protection in the safe-haven yellow metal.
In the crypto market, most cryptocurrencies ended the week higher, despite the pullback in price over the past 24 hours.
Ethereum was the standout performer for the week, rising just over 18%
Bitcoin is once again testing the 10,000 mark but still remains above both the 50 and 100 period moving averages on the weekly chart.
That wraps up another weekly market update. From all of us here at TopRatedForexBrokers see you next time.