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How has Covid 19 affected the Forex Market

Oct 6 2020 07:08PM

The coronavirus pandemic has had a great effect on everything, from the world's economy to everyone's normal ways of life. Countries around the world have had to undergo phases after phases of lockdown which couldn't permit anyone except essential workers to leave their homes. Of course, this is essential in order to slow down the spread of the virus but this has greatly affected a lot of countries economies. The stock markets of countries went on a decline and this had caused them to start pumping money into the markets. When they do this, their currency loses some of its value and makes it cheaper.

Although some of these currencies are coming back up, the forex markets are very unstable these times and even the EUR/USD markets have been on a decline this week, but we hope for a general and more stable rise in the markets, especially as economies are already for the most part back open. For experienced traders who have completed both our beginner and advanced courses, we'd recommend taking advantage of the rise and fall of the foreign exchange markets to cash out, if you're not fully updated on our courses, this isn't advisable so sticking to the demo account is best. The forex markets are very unstable.


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