When it comes to the tech sector, they are currently one of the strongest in the business. It makes sense since many people are still terrified to go out, especially in the US. What is now not helping the economy to bounce back are continuous riots because in America, the system is breaking down again, and people want justice no matter the price. It profoundly influences the medical industry since everyone who goes out needs masks, sanitizers, police brutality brings lots of hurt people who also need medical aid. It would be only logical to say that Forex investors should keep paying attention to how the pharmaceutical industry is going regarding stocks. If they want to invest – technology would still be something that doesn’t fail.

What about currencies?

It looks like the dollar is still having a wild ride. After it went down for almost 2% because of the trading war, which is STILL in the spotlight even though it should be the least important thing to focus on right now… If you are not trading. It bounced back and recovered a bit, but everything is still on hold. What is maybe unfamiliar to the majority is the fact that Australia wasn’t phased much by the fact that their bond with Beijing started to deteriorate. The gates of Australia are opening again since the coronavirus is going away, and while many other countries’ currencies fell, Aussies managed to be up by 3.7%. European currencies are still going down, so again, we can only wait and observe worldwide events to see in which direction everything goes and how it is going to influence the forex industry.

Unpredictability is the safest word

2020 still feels like a whirlwind. We can’t predict almost anything except that events that we can’t predict always have their good and bad sides. The lockdown made online shops skyrocket, technology is even more important (when we thought it wasn’t possible since we’re spending so much time on our phones already). At the same time, people are turning to nature more than ever and trying to visit small towns or villages to get some peace of mind which hasn’t happened in a long time. Will it become another way to earn money? Renting AirBnBs is still a thing, even if you didn’t think so.

Taking a stand

Everyone is having their opinion on racism. The central fact remains that it’s wrong, and not only people but social media started taking a stand against Trump. They began flagging tweets with his false statements, Snapchat declined to promote any political campaign at this time, and we are still able to see what is really going on thanks to people’s phones, the internet, and we simply cannot keep or eyes shut. Facebook decided to stay neutral and do its business as usual, which prompted some workers to protest Zuckerberg’s decision silently. “Defund the police” stands strong, which can close trading bond between the UK and the US, since the United Kingdom is the leading supplier of police equipment. It will be interesting to see the impact on this part of the industry.

Leave a Reply

Your email address will not be published. Required fields are marked *