Forex

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The Moscow Exchange will begin trading 20 stocks from the S&P 500 Index on 24 August, 2020. Foreign stocks will be traded and settled in RUB within MOEX’s infrastructure.Top names include Apple, Boeing, Amazon NVidia, Microsoft and McDonalds.

Rating agency Fitch reaffimed the United States of America at 'AAA' BUT with Outlook Negative Friday. This comes after in March it warned of high fiscal deficits and debt which were already rising even before coronavirus are starting to erode these credit strengths.

Fitch on Friday downgrades Italy's 'BBB-' rating from 'BBB'and outlook stable. Reflects impact of global COVID-19 pandemic on Italy's economy and on sovereign's fiscal position

Fitch Ratings has downgraded Canada's Long-Term Foreign Currency Issuer Default Rating (IDR) to 'AA+' from 'AAA' and with a Rating Outlook as Stable. Moody's and S&P have AAA ratings for Canada.

Fitch believes Australia’s agriculture, tourism and education sectors are among those most exposed to a potential escalation in bilateral trade tensions between Australia and China. China imposed tariffs on imports of Australian barley and suspended some Australian beef imports.

Currencies reacted much like futures and commodities in the first qurter of 2020.  The black swan Covid -19 event saw the biggest gainers the safehaven currencies led by the Japanese Yen, Swiss Franc and US dollar.

Rating agency reaffimred the United States of America at 'AAA'with Outlook Stable Thirsday. However warns high fiscal deficits and debt which were already rising even before coronavirus are starting to erode these credit strengths.

In response to the Coronavirus panic effect on world economies the IMF issued a statement Monday that it's ready to mobilize a $1 trillion loan capacity to fight the virus. This is crucial where emerging markets unable to tap debt markets,

Desperate times call for desperate measures. Hong Kong has announced handouts to its population to turn around sentiment. The country says that registration for cash handout to start in early July. The move is likely a blue print for greater China.

New Zealand Prime Minister Jacinda Ardern announced Tuesday that the country will have a general election on September 19, 2020, yes seven months away. Expect a lot of electioneering in NZ. The election was due by November 21.

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