New York City is Now Epicenter of Coronavirus COVID-19 Outbreak in the USA
Recording Artist Pink Infected with Coronavirus COVID-19
Recording Artist Pink Infected with Coronavirus COVID-19

Could the Coronavirus be More Contagious than Previously Thought?

Kevin Durant USA NBA Basketball Player Infected with Coronavirus COVID-19

By Glenford S Robinson

How Did Coronavirus COVID-19 Dumped the Price of Oil to Below Zero?

Is there a cure?

Costco and Walmart Attack the Spread of COVID-19 Head on

Two More Popular Celebrities Now Infected with COVID-19

Did the European Economy Just Crashed in Historic Fashion?

Coronavirus COVID-19 Live Infection Statistics and Updates
Could the Coronavirus COVID-19 be More Contagious than Previously Thought?

Could the Coronavirus be more contagious than previously thought?

Just when it seems like we’ve captured the COVID-19 genie in a bottle, it slips out of our grasp of understanding it, with yet, another twist. Scientists in Italy say the coronavirus COVID-19 has been detected in air pollution particles. Cities with high levels of smog comes to mind.  This could be the reason why cities such as Wuhan and New York City have seen such high rates of COVID-19 infection because these cities have high levels of pollution and high population densities.

How Did Coronavirus COVID-19 Dumped the Price of Oil to Below Zero?

I don’t normally talk about the price of oil in my weekly economic reviews, but this time, I cannot resist not talking about it. I am a currency trader and my weekly review broadcast speaks about factors that affects price movements in financial markets. Therefore, I am compelled to talk about how the recent price of oil has preceded the movement of my favorite currency pair, that being the EUR/USD currency pair. The coronavirus COVID-19 dumped the price of oil well into negative territory, a feat never been seen before in history.

The whole world finds itself staying at home. No one drives anymore. No one flies anymore! Everyone continues to stays at home; As a result of the whole world staying at home, the price of oil dropped to historic lows. The price of oil directly affects equities markets and the EUR; all three seem to move in tandem. So, you guessed it. The EUR has lost ground against the USD recently, dropping from the high 1.10s to the low 1.08s 

Meaning that, the price of the EUR has declined in the past two to three weeks along with the price of oil, so goes the price of oil, so goes the price of the EUR with equities joining the party. The correlation is plain as day. But by the time I am finished writing this article, things may change.

No wonder successful Forex traders tend to be on top of the food chain when it comes to making money in trading. The EUR/USD currency pair spiked about a month ago to almost $1.15 when disagreements between Saudi Arabia and Russia erupted in a short-lived price war over oil. Undoubtably, caused by the infamous coronavirus COVID-19 shutting down economies and wreaking havoc and chaos on society. 

My close friend and family, Surgeon, Doctor Kenneth Hall has the scoop of how to protect yourself from the coronavirus COVID-19 by boosting your immune system using natural means, such as supplements and plain old common sense.  I too use Doctor Kenneth Hall methods to boost my own immune system. His video can be seen by clicking the link below the video.

Is there a Cure?

Being a Clinical Laboratory Scientist on the front line, performing COVID-19 testing on a daily basis, I know what it means to have a strong immune system and what it means to practice extreme safety precautions. Performing COVID-19 testing is dangerous work, but we are compassionate people and love to save lives. In spite of this, we must nevertheless protect ourselves with whatever defense we can muster up, against this deadly Coronavirus of 2019.  We want to have a fighting chance, just in case the bug comes our way.

The virus may’ve already come our way without us even knowing it. A recent New York State survey of $3,000 New Yorkers found that a whopping 14% of people had the Coronavirus antibody in their blood, suggesting that these people had been exposed to the virus recently, Governor Andrew Cuomo said at his daily news briefing on April 23. Is there a cure that we don’t know about?

Anyway, according to the Centers for Disease Control (CDC), we all should help stop the spread of Coronavirus COVID-19 anyway we can. We should do these necessary things to stop the spread of COVID-19:

  1. Clean your hands often.
  2. Don’t touch your eyes, nose or mouth.
  3. Keep 6 feet away from others when possible. Six feet might not be enough if someone is hawking and sneezing profusely in the area you both are occupying.  This is why you want to protect your eyes, nose, and mouth with some kind of protective equipment at all times and especially, when in the presence of others. With the discovery of the coronavirus hitchhiking on the backs of polluted particles in highly polluted cities, we would be better served if we wear, personal protective equipment at all times when outdoors, in big cities.
  4. If you feel sick, for God’s sake, stay home; don’t be selfish, and come to work and get others sick, just for an extra dollar.
  5. Listen for orders from your local government to stay home.
  6. Cover your cough and sneezes with your inner elbow.
  7. And last but certainly not least, the act of speaking also spreads the virus, not only sneezing or coughing.

Costco and Walmart Attack the Spread of COVID-19 Head on

Wholesalers such as Costco and Walmart attacked COVID-19 head on by doing what they can to stop the spread of the disease. Costco uses disinfectant to disinfect its shopping carts before customers can use them.  A Costco employee was spotted spraying the handles of shopping carts with disinfectant from a giant spray bottle with a long hose.  All in the hopes of keeping us Costco shoppers safe from the coronavirus of 2019. Here is the footage.

Costco even went a step further in trying to stop the spread of COVID-19 by limiting the number of shoppers in its store at anyone time to only fifty. As a result of this decision to only allow 50 people at a time in its store, long lines are form. One shopper told me that people normally stand in line for anywhere from 45 minutes to an hour and a half.

Walmart on the other hand, has placed blue and white signs on the floor in the middle of isles, reminding customers to stay 6 feet apart from each other. Everyone has come together in the fight against COVID-19. This is the human spirit at its best.

Another new paradigm shift caused by COVID-19 is the widespread use of face masks and eye protection. Practically, everyone in Costco and Walmart had a face mask on. This makes me wonder? Will, I be wearing a face mask two years from now?

Two More Popular Celebrities Now Infected with COVID-D19

Well, COVID-19 does not discriminate; it infects anyone it pleases and celebrities are no different. Recording artist Pink and NBA Basketball Superstar, Kevin Durant are among the most recent celebrities infected by COVID-19, along with countless others, too numerous to mention.

Now, let’s look at other factors affecting financial markets. Our research led us to the Import and Export Price Index. On Tuesday, April 14, 2020 at 8:30 AM, the Import Price Index, month-over-month for March beats market expectation of -3.2%, coming in less than the previous month’s reading of -0.7% by posting a reading of -2.3%. What does all this mean?

Well, to put it simply, the Import Price Index measures changes in the price of imported goods and services purchased domestically. A higher than expected reading should always be perceived as positive for the U.S. economy and bullish for the USD, while a lower than expected reading should always be perceived as negative for the U.S. economy and bearish for the USD. A rise in U.S. import prices could be due to foreign firms maintaining prices of their goods according to Trevir Nath of Investopedia.  

As a result of this, import prices of consumer discretionary retail goods don’t always move in sync with changes in the U.S. dollar because commodity, such as oil influences the value of the U.S. dollar. When the price of crude oil for example decreases, the value of the USD increases. This was the case recently when U.S. crude oil producer, West Texas Intermediate (WTI) price for a barrel of oil went negative. This means that oil sellers had to pay oil buyers for buying their oil futures contracts because if oil sellers of futures contracts didn’t do that, their oil would’ve ended up at their door steps in millions of barrels, depending on how much they had purchased.

The price of Gold is another commodity that influences the value of the USD. However, don’t bet on it that the price of Gold will ever go negative because it will never happen. Crude Oil is more readily available below the ground as opposed to Gold.

There will never be a situation in which sellers of large quantities of Gold being forced to pay buyers to buy their Gold as a result of too much of it being mined. The scarcity of Gold on the planet causes it to be immune to over production. However, with oil, over-production will always be a possibility although this had never happened before until recently. That meant the price of a barrel of crude oil that was selling for around $30 per barrel went to less than $0.00 ending up at $-0.27 (cents) per barrel. Wow! This price doesn’t look right.

The negative twenty-seven cents ($-0.27) for a barrel of oil looks very strange because the eyes have never seen anything like it. For those who understand a little algebra and the x and y axis of the intercept method, it’s the same as saying that the price of oil being displayed on the y-axis number line flew passed the x-axis number line in a downward fashion from top to bottom from positive to negative. Remember that any asset price or value on the y-axis ending up below the x-axis from top (positive) to bottom (negative) is significantly less than zero and much less than the price that it started out with, but this is no normal drop to a lower price, it is a less-than-zero drop. Wow! Simply amazing. This is worse than the price of a stock that has dropped to zero because the price of a stock could only go to zero and that’s it, but the price of a barrel of oil can go to less than zero. Amazing!

Ok, so what is really happening here? This negative oil-price-event came about as a result of no one buying oil, but it was still being pumped out of the ground, as a result of crude oil producers being reluctant to shut down oil wells. It cost a lot of money to reopen an oil well after it has been shut down. Therefore, crude oil producers chose to continue pumping crude oil even though there were no buyers; hence ushering in the new twilight zone era of negative crude oil prices. Is this a new norm?

If creditors who provide refinance loans to oil producer companies know that a less seasoned but otherwise highly prized oil producer, will likely go bankrupt due to negative crude oil prices, will they issue refinance loans? Well, you can answer that question, but the answer to this question also influences the reason for the current decline in crude oil prices. Now, we can see why oil producers continue to pump crude oil from their oil wells in the fear that if they stop, they will never be able to restart their operations because doing so may require a loan that they may not be qualified for. (They may not get a loan).

With all this said, the increase in U.S. Import Prices could’ve been attributed to the decrease in the value of a barrel of crude oil, which is good for the USD, but not necessarily so good for U.S. consumers who buys discretionary retail goods from foreign producers.

Therefore, if we follow the rules of interpretation explained for the data above, we can see that for the month of March, the US economy and the USD did well according to the Import Price Index. You wouldn’t think that this was possible considering the mayhem COVID-19 has caused on the U.S. economy, but it is. This is yet another example showing us that independently speaking, without the negative effects of COVID-19, the U.S. economy was formidable right up until March 2020. It will be interesting to see what the Import Price Index will reveal in later months. The U.S. Bureau of Labor Statistics released the Import Price Index on Tuesday, April 14, 2020 at 08:30 AM, New York Time.

How about the Export Price Index? Export Price Index tracks changes in the price of U.S. goods exported abroad. The figure determines whether or not a change in the headline Export figure indicates an increase in the amounts of goods sold to foreign nations or just an increase in the price of goods exported. U.S. Exports account for approximately one tenth of the country’s GDP. The headline figure illustrates the percentage change in the index from either the previous month or the previous year. A higher than expected reading should be perceived as positive for the US economy and bullish for the USD, while a lower than expected reading should be perceived as negative for the US economy or bearish for the USD.

If the Import Price Index did so well in March, then the Export Price Index, probably did well also. Let’s see if this happens to be the case. Drum Roll! On Tuesday, April 14, 2020 at 8:30 AM, New York Time, the Export Price Index months over month for March beats market expectation of -1.9% coming in slightly lower than the previous month’s reading of -1.1%, by posting a reading of -1.6%. This means that the US export price increased; however, not as much as it did in the previous month, but nevertheless, beats market expectation of -1.9%. The price of goods that was exported from the United States to other countries increased; this means that U.S. producers who sold their goods and services to foreign buyers saw increased profits.  

Conventional wisdom would tell us that U.S. consumers, would otherwise be paying less for imported discretionary foreign goods, as a result of U.S. dollar appreciation, but no! This is not always the case, simply because foreign firms maintain the prices of their goods in US markets, which increased with the rising value of the USD. This does not benefit consumers at all. So, while the increase in export price is good for U.S. businesses, the rise in import price is bad for consumers. The Bureau of Labor Statistics released the Export Price Index on Tuesday, April 14, 2020 at 8:30AM, New York Time.

Commodity prices also influences the value of the USD. When the price of commodities such as crude oil falls, the USD usually appreciates because oil is pegged against commodity prices. 

Therefore, without even looking at the USD/CAD Canadian currency pair, we know exactly how well the USD is performing against the Canadian dollar. Why? The answer is very simple. As an oil rich nation, Canada depends heavily on the export of oil to sustain its economy. We know what has happened to the price of oil over the past few weeks, don’t we? And guess what? As a EUR/USD currency pair trader, I know exactly how the EUR is performing against the USD, even without looking at any charts. Why? The answer is very simple. If the decreasing price of crude oil causes the USD to appreciate, then what do you expect to happen to other currencies pegged against the USD? In fact, the USD serves as the benchmark currency for all currencies worldwide. This is a nice little challenge for you. I won’t tell you the answer because that would be taking the fun out of it. Text me at 631-747-7237, so we can talk about it. I may tell you the answer or I may not. I don’t know what I will do.

With every facet of the economy crumbling due to the onslaught of COVID-19, we would expect that the housing market and everything relating to the housing market, would be crumbling too. This is what the logical thinker would think. Right? Well, the Core Durable Goods Orders Report should reflect, such dire outlook. Right? Well, let see if your thinking corresponds to the actual month-over-month Core Durable Goods Orders Report for March, released by the U.S. Census Bureau, on Friday, April 24, 2020 at 8:30 AM. Are you ready? Well, the Core Durable Goods Orders Report beats market expectation of -5.8%, beating the previous month’s reading of -0.7%, by posting a reading of -0.2%, a 0.5% increase from the previous month’s reading.

The Core Durable Goods Orders measures changes in the total value of new orders for long lasting manufactured goods, excluding transportation items, such as aircraft orders that exhibits high levels of volatility. Therefore, the core number gives a better gauge of ordering trends. So, why would other financial publications not speak about the Core Durable Goods Orders and speak about the Durable Goods Orders Report instead, knowing that it doesn’t give an accurate assessment or gauge of ordering trends, even though it is common knowledge that the Core Durable Goods Orders Report gives a better gauge of ordering trends? Well, I will allow my readers and subscribers to come up with an explanation for this one.

This answer is obvious to anyone who understands how the financial industry operates. Sometimes it is best to leave some things alone and not mention them at all. So, I will leave that alone. Everyone knows that the airline industry is one of the industries hardest hit by the Coronavirus COVID-19, so why use it to obscure other positive developments in the economy? This is one of the main reasons why uninformed investors always ended up on the losing end of investments.

Well, here comes another dose of some common knowledge. A higher than expected reading of the Core Durable Goods Orders Report indicates increased in manufacturing activity; therefore, a higher than expected reading should be perceived as positive for the US economy and bullish for the USD, while a lower than expected reading should be perceived as negative for the US economy and bearish for the USD. The US Census Bureau released the Core Durable Goods Orders Report on Friday, April 24, 2020 at 8:30 AM, New York Time.

Existing Homes Sales for March came in at 5.30 Million as compared to previous readings of 5.77 Million while New Homes Sales came in at 627 thousand, missing market forecast of 645 thousand and the previous months reading of 741, thousand. I won’t harp too much on the low housing numbers because it is understood that the coronavirus COVID-19 has had a profound effect on all markets. However, I will ask one question. How come the Core Durable Goods Orders Report Came in positive while all housing data came in negative? We know that when Durable Goods Orders number rise housing market activities usually rise also.

On the Initial Jobless Claims front, things look to be getting worse. Yet, another consequence of fighting off COVID-19. Governments worldwide have told their people to stay at home. So, an increase in jobless claims comes as no surprise. The Initial Jobless Claims for Thursday, April 23 came in 227 thousand more than what the market expected while missing last week’s reading of 5,237 thousand jobless claims.

The Initial Jobless Claims Report measures changes in the total number of individuals filing unemployment insurance claims for the first time during the past week. The Report serves as the earliest indicator of economic health, although its impact varies from week to week. But as we can see, this information accurately reflects the current state of the economy.

A higher than expected reading should be perceived as negative for the US economy and bearish for the USD, while a lower than expected reading should be perceived as positive for the US economy and bullish for the USD. The Department of Labor released the Initial Jobless Report on Thursday, April 23, 2020 at 8:30 AM, New York Time.

Did the European Economy Just Crashed in Historic Fashion?

Did the European Economy Just Crashed in Historic Fashion? Well, let’s find out. The coronavirus COVID-19 has punished the Eurozone economy, especially the United Kingdom who have taken the brunt of the COVID-19 onslaught and inflicted bodily harm to its Premier, Prime Minister Boris Johnson and British Royalty Prince Charles infecting both prominent figures and sending Boris Johnson to a British Hospital Critical Care Unit for observation, but luckily for the two prominent Brits, they seemed to have overcome the venom of the deadly Coronavirus bug, in astonishing fashion. No one is tougher than a Brit, so we shouldn’t be surprised that the two prominent Brits overcame their Coronavirus COVID-19 infections.

Like The EUR, the British Pound have taken a beating at the hands of the coronavirus pandemic, plummeting oil prices, and the benchmark safe-haven, US dollar.

In this week’s edition of Weekly Review of the US economy, we covered the Following Topics:

Could the Coronavirus be More Contagious than Previously Thought?

In summary, the coronavirus reminds us that it is more contagious than any disease we humans have encountered before because of its ability to hitchhike its way through polluted smog by clinging to polluted particles hovering over large densely populated cities. Our only defense against this deadly COVID-19 virus is to wear personal protective equipment whenever we venture out of our homes.

How Did Coronavirus COVID-19 Dumped the Price of Oil to Below Zero?

The Coronavirus COVID-19 dumped the price of oil to below zero because it completely placed a stop on the global demand for oil. No one wants to fly anymore and no one wants to drive anymore, everyone wants to stay home or everyone is told to do so. Therefore, industries like the airline industry have placed a stop on the purchasing of crude oil, so crude oil inventories have begun to expand beyond their capacities. As a result of this the price of oil has steadily decreased, so much that it went below zero recently.

Is there a Cure?

Is there a cure for COVID-19? Well, this happens to be a question, worth asking based on all the information that we have been getting through alternative sources of COVID-19 treatment interventions relating to the immune system. As a Clinical Laboratory Scientist who performs COVID-19 testing on a daily basis, it’s only fitting that I continue to ask the question. Is there are cure?

Costco and Walmart Attack the Spread of COVID-19 Head on

Costco and Walmart have both fought back by doing what they can to stop the spread of coronavirus COVID-19 pandemic. Costco began disinfecting shopping carts by spraying them with disinfectant in order to prevent the spread of the virus.

Two More Popular Celebrities Now Infected with COVID-D19

Yet another two popular celebrities infected with COVID-19. Recording artist Pink and NBA Superstar Kevin Durant became the latest victim of coronavirus COVID-19

Did the European Economy Just Crashed in Historic Fashion?

The European economy has fallen prey to the onslaught of the COVID-19 pandemic with the United Kingdom leading the pack in COVID-19 infection cases. British Prime Minister and British Royal Prince Charles topped out the list of highly prominent people who have contracted the deadly coronavirus COVID-19 disease, but luckily for them they have recovered.

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Disclosure

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