Global goods trade index falls to lowest on record – WTO
|According to the latest report published by the World Trade Organization (WTO) on Wednesday, its goods trade indicator fell to the weakest on record on account of the coronavirus pandemic disruptions.
Key points
"Global goods trade was likely to fall “precipitously” in the first half of 2020."
"The indicator, launched in July 2016, fell to 87.6 from 95.5 in February."
Market reaction
The market mood already remains tepid amid rising US-China and Australia-China tensions while the virus led global economic gloom also continues to dampen the investors’ sentiment.
USD/JPY flirts with daily lows near 107.60, having faced rejection at 108.00. AUD/USD, on the other hand, consolidates gains around 0.6550. The European equities are reversing early losses, still remain vulnerable.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.