There is a possibility to never find the vaccine for COVID-19 WHO said
Uncertainty in the markets was created after the WHO said that we may never find a cure for COVID-19. Markets normally react when announcements that have to do with the deadly virus has negative or positive sentiments.
Yesterday the World Health Organization said that there may never be a final antidote for the COVID-19 even though scientists across the world are committed to finding a reliable and effective vaccine.
According to CNBC WHO Director-General Tedros Adhanom Ghebreyesus scientists have made improvements in classifying medications that can treat people with the most critical forms of Covid-19, and several vaccines are in the last stages of testing. He also stated, “However, there is no silver bullet at the moment and there might never be.”
Oil gained more than 2%
Yesterday Oil surged approximately 2% during positive economic numbers from Asia, Europe, and the United States. However, investors continued to be concerned regarding growing COVID-19 cases all around the world and additionally the oversupply of the popular commodity while OPEC starts to lift supply cuts. Brent crude surged 86 cents, to $44.38 a barrel, while West Texas Intermediate crude ended with almost 1.9%, higher at $41.01 per barrel.
Gold near record top
Gold remained close to its record top today while concerns ocwe the global economic damages from rising COVID-19 cases balance the pressure from a retracement in the greenback.
Spot gold was even at $1,976.36 per ounce just $8.30 under the all-time-top scored in the previous session. U.S. gold futures climbed 0.3% to $1,993.
Dollar looking positive
The greenback gained versus a basket of rival currencies yesterday while investors unwound some recent short positions after the currency’s softest 30-day performance in more than ten years.
The dollar index, which estimates the greenback versus a basket of leading rival currencies, registered a more than 4% drop for July, its largest monthly decline since September 2010. However, the popular dollar index gained 0.5% and reached 93.836 yesterday.
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