The legend in the InstaSpot team!
Legend! You think that's bombastic rhetoric? But how should we call a man, who became the first Asian to win the junior world chess championship at 18 and who became the first Indian Grandmaster at 19? That was the start of a hard path to the World Champion title for Viswanathan Anand, the man who became a part of history of chess forever. Now one more legend in the InstaSpot team!
Borussia is one of the most titled football clubs in Germany, which has repeatedly proved to fans: the spirit of competition and leadership will certainly lead to success. Trade in the same way that sports professionals play the game: confidently and actively. Keep a "pass" from Borussia FC and be in the lead with InstaSpot!
The coronavirus pandemic has negatively affected the entire foreign exchange market. The currencies of emerging economies were the hardest hit. For example, from the beginning of the year to the present day, the Argentine peso and the Brazilian real have collapsed by 34% against the US dollar. The Turkish lira lost 29%, the Russian ruble fell by 23%, and the South African rand decreased by 11%.
Considering that the demand for risky assets is gradually recovering, these currencies have a chance to catch up. The currencies of those countries with relatively stable macro indicators have more chances to recover.
The difficult financial situation in Turkey will not yet allow it to recoup the losses this year. And the economy of Argentina, which is constantly in default, will not be able to win back the losses at least in the coming years.
However, there are currencies in the foreign exchange market that have risen in price during the pandemic. So, the Chinese yuan has grown by 6.5% since the beginning of the year, and when the global panic due to COVID-19 began, the currency rose by more than 9%.
According to experts, the best results were shown by the Japanese yen and the Swiss franc, which increased by 4% and 6% respectively. These currencies are considered a safe haven for many investors, as they show stability in any critical situation.
What is the fate of the US dollar and the euro? Experts are confident that the American dollar will continue to depreciate. And the euro is still ahead. The eurozone rate is capable of renewing two-year highs against the backdrop of the ultra-soft fiscal and monetary policy of the world central banks and more active recovery of the eurozone economy.
So, in 2020, those currencies that are associated with the export of energy carriers, as well as the monetary units of countries that were under geopolitical pressure, suffered the most.
The yuan, the yen, and the Swiss franc are in a good position because these currencies are a protective asset in any difficult situation.
InstaSpot analytical reviews will make you fully aware of market trends! Being an InstaSpot client, you are provided with a large number of free services for efficient trading.