Coronavirus update: Italy death toll leaps to 366 amid mass lockdown, markets set to plunge

Yohay Elam FXStreet

Several hours after the Italian government decreed the lockdown of around a quarter of its population, it reported a jump in coronavirus deaths and infections. The disease has taken the lives of 366 people, up from 233. The number of cases jumped from 5,883 to 7,375.

Citizens in Lombardy which includes Milan and other regions are under strict limitations. Transport is limited in and out of the region while cinemas, theaters, gyms, discos, and pubs are closed. Funerals and weddings are also forbidden. The eurozone's largest economy previously cl

In France, the death toll jumped from 11 to 19 while in Spain mortalities advanced from 10 to 17. The world is also following cases in the US, where testing has been slow.

Stock markets will likely open lower in Asia on Monday, as coronavirus headlines continue mounting and they paint a gloomy picture.

The US dollar is on the back foot in early trading, as investors expect the Federal Reserve to cut interest rates once again.

Author

Yohay Elam

FXStreet

Yohay is in Forex since 2008 when he founded Forex Crunch, a blog crafted in his free time that turned into a fully-fledged currency website later sold to Finixio.

GBP/USD declines as market caution lifts US Dollar

GBP/USD extends its gains for the second successive day, trading around 1.3200 during the Asian hours on Wednesday. The currency pair depreciated as the US Dollar gained momentum, driven by a combination of robust domestic economic data and a complex, mixed geopolitical landscape.

EUR/USD weakens below 1.1400 as Fed hike bets lift US Dollar

The EUR/USD pair trades on a negative note near 1.1380 during the early Asian trading hours on Wednesday. The major pair extends the decline as traders continue to assess the developments surrounding the US-Iran peace deal.

$4,050: Gold dives to fresh two-week low as Fed rate hike bets boost US Dollar

Gold drifts lower for the second straight day – also marking the fifth day of a negative move in the previous six – and drops to a nearly two-week low during the Asian session on Wednesday. Despite easing inflationary concerns in the face of the recent fall in Crude Oil prices, traders have been pricing in a greater chance of a rate hike by the US Federal Reserve.

Global strategy 3Q 2026

With the signing of a framework agreement and subsequent negotiations between the U.S. and Iran in June, the outlook for the third quarter is favorable. Oil prices have already fallen sharply, and futures are pricing in a further decline over the course of the year. This will ease the burden on consumers and reduce uncertainty among businesses, with positive effects on the economy.

"Rearranging the deckchairs on the Titanic": UK's fiscal crisis outlasts another Prime Minister

Keir Starmer's resignation as the UK Prime Minister comes ten years after the Brexit referendum vote, a coincidence that financial markets have been quick to note. The British Pound trades around 1.3220 against the US Dollar on Thursday.

Regime change: Inside Kevin Warsh's first move to make the Fed unreadable on purpose

The rate did not move. That was the least interesting thing about Kevin Warsh's first meeting in charge of the Fed. The FOMC held its benchmark at 3.50%-3.75% for the fourth straight meeting, exactly as priced, and then the new chair used his first press conference to dismantle the machinery the market has leaned on for a decade.