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28.01 - coronavirus influence is getting stronger

28.01.2020

 

Seems that China is determined to keep our attention fixated on it. First we could not stop talking about the trade war. But that was imposed by the USA. Now it is coronavirus outbreak. Dozens of people have already died from it, thousands are infected and only 51 people has recovered from it. People all around the world are concerned about catching the disease with all the possible ways as the virus is very badly studied – it is a virus that we as humanity are seeing for the first time ever.

 

Of course, these concerns are transferred to traders and to the markets. Export of Chinese wares is probably going to drop. People are already too afraid to order packages from Aliexpress, even though it seems that the virus does not transfer like that. All of that can’t help but hot Chinese economy in the worst way. Surely, thoughts like that have gone through our minds once or twice.

 

Surely, with the situation getting worse and worse the demand for safe havens is growing. Yen is still looking lower, but it is only due to the fact that it is an Asian currency. Looking for a safe haven and then investing into an Asian currency would seem most illogical. Instead we see that precious metals are growing, but not gold, no.

 

As of late, there is another contestant for the place of the main precious metal and it is palladium. The metal has jumped very high and very did that in a very short period of time. Expecting the same kind of behavior from the metal in the future, it is natural that we are going to keep on investing in it and as a result it is going to grow. That is exactly what is going on right now.

 

Here are the main changes for today:

 

Topix decreased 0.5 percent.

Kospi lost 3 percent.

Shanghai Composite declined 2.75 percent.

Hang Seng from Hong Kong recovered 0.15 percent

S&P 500 added 0.6 percent.

Euro dropped 0.1 percent - $1.1022.

Pound slid 0.1 percent - $1.305.

Yen was barely moved – 109.04 per dollar.

Canadian nudged 0.2 lower - $1.3181.

Tesla dropped 1.2 percent - $558.02.

Apple dropped 2.9 percent - $308.95.

Facebook decreased 1.4 percent – $214.87.

Amazon lost 1.8 percent - $1828.34 per share.

Google dropped 2.35 percent - $1431.73.

WTI added 0.6 percent - $53.1 per barrel.

Brent grew 0.4 percent - $59.19 per barrel.

Gold dropped 0.2 percent - $1579.12 per ounce.

Silver lost 0.2 percent - $18.04 per ounce.

Platinum advanced 0.8 percent – $991.7

Palladium recovered 2.6 percent - $2321 per ounce.