Weekly

Overseas Labor Countries Hit Foreign Exchange Crisis

2020-04-09

The epidemic situation continued to ferment, assets flowed into the safe-haven market, the US dollar index hit the 100 mark again, and the gold price also remained stable.  A large number of overseas workers were shut down due to the epidemic.

The failure to return home has broken the wage remittance chain, leading to the devaluation of a large number of local currencies, supporting the rise of the US dollar and the functioning of the safe haven market.

Gold prices are not limited by the rise of the US dollar and continue to stabilize. After rising above 1660, gold prices will remain strong. It is expected that the gold market will maintain a high yield and hit 1675 resistance before the long weekend holiday.

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