Asia may face disaster

Analisi Giornaliera - 01/04/2020

Nikkei 225 down

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As the US battles covid-19, attention is starting to turn to the impending disaster in Asia. Today is day five of a ten-day stay at home order in Bangladesh; the world’s most densely populated big country. The consequences for the poor countries of Asia, India principal among them are likely to be devastating say the World Bank. Their only hope for protection is demographic. They are young. They will have to innovate to cope. Asian markets are down sharply with the NKY down a whopping 4.5%. The AEX, CAC and DAX are down 2.93, 3.65 and 3.00 percent respectively TODAY ALONE.

Chinese Yuan trades weaker


As fear of the real devastation in Asia bubbles through to traders’, the selloff of the Yuan is strong, weakening the currency against the greenback by a third of a percent (.3%). There is fear among traders that the data coming from China are loaded. The strength of the greenback is, measured by the USNDX, 48% up on the day.

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SGD swept up in Asia selloff


The Singaporean dollar weakened by .89% against the USD today. This is generally a strong Asian currency. Singapore is a poster child for well-run viral defenses. Yet, the general dread of what is shaping into a devastation of Asian economics drove the selloff in the SGD.

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Gold gains momentum


Gold is up today by .75% as the nearly incredible amount of cash flowing into the world, created by the world’s central banks, begins to weigh on the minds of inflation conscious traders. Gold sold down a bit this week but is gaining again on the unavoidable fears that the stimulus will surely drive prices up and the value of currencies down. Hence the drive into gold.

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