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Asian Stocks Declined, Dollar Steadied

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Asian stock markets traded in red as investors’ worries about the coronavirus continued to mount amid spikes in cases around the world.

Crude oil prices dropped amid concerns about the coronavirus and its impact on the world economy.

FX Markets

The dollar index (USD) rose amid a pessimistic in US fiscal stimulus, which unlikely to approve before the presidential election.

The euro (EUR) declined as coronavirus cases in Europe continue to rise with several countries and regions tightening restrictions in order to contain the spread. Paris and other cities will come under a nighttime curfew.

The UK pound (GBP) pressured amid the pessimistic in Brexit talks. UK Prime Minister Boris Johnson will announce his decision on whether to continue or abandon talks on future relations. EU leaders agreed to extend talks with the UK but do not show any progress had been made.

The aussie (AUD) dropped further after RBA announced to the rate cut and further easing next month.

The kiwi (NZD) tumbled, as the RBNZ is actively considering negative interest rates to support jobs.

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