Corona virus summary:
UK economy set to be hardest hit in OECD
The UK economy is set to be the hardest hit by coronavirus among the world's developed countries, according to the Organisation for Economic Co-operation and Development (OECD).
In its latest global economic outlook, the OECD predicted Britain's economy was likely to slump by 11.5% in 2020.
But it warned that if there was a second peak of the Covid-19 pandemic, the UK economy could contract by 14% this year.
Technical analysis:
Gold has been trading upwards as I expected.The Gold reached my first upward target from yesterday at the price of $1,721 and is heading for test of the second target at $1,744. I still see potential for further rise towards $1,744.
Trading recommendation:
Watch for potential buying opportunities on the dips using the intraday frames 5/15 for the better entry.
Upward target is set at the price of $1,744
