Coronavirus fears have continued to weigh on the markets, with the US’s Federal Reserve announcing an emergency interest rate cut for the first time since the financial crisis and on the back of three scheduled cuts in 2019.
The pound saw a slight recovery of its losses against the euro and the dollar, but is still weak as fears over coronavirus continue. Boris Johnson said yesterday that one-fifth of workers could be off sick at a virus peak in a worst-case scenario.
Today is a busy day for economic releases with Italian GDP growth, European services PMI and retail sales and a raft of US non-manufacturing figures.
Speak to your Personal Trader about how to protect your money at this volatile time. A forward contract, for instance, safeguards your money from sudden market drops by securing you a fixed exchange rate for up to a year. Call in today on 020 7898 0541 to get started.
