The global pandemic is hitting us once again. If only the first wave was not enough, we have been experiencing the new changes and restrictions, because of the second wave of the COVID-19, which actually had one year anniversary of interaction to our lives on the 17th of November. 

While we all hope for the best, most of us are prepared for the worst. Indeed, time has shown us that it is better to be prepared and armed, rather than facing the challenges with empty hands. Industries all over the world have been struggling with the pandemic and the outcomes it has brought to our lives. The experience is definitely not easy and none of us stepped in all of this on our own, by our will. 

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With the second wave of the pandemic and the ever-increasing number of infected people, countries are forced to implement some restrictive measures once again. Some countries all over the world have already switched to the lockdown mode, though the rest of the countries have addressed curfews and gathering restrictions. Everything this affected people and businesses, which have tiring times in overcoming the pandemic and surviving. 

Many businesses had to shut down, and some had to close for an uncertain period of time, which is no better. Millions of people all over the world have been left unemployed and the overall global economic situation is slowly slumping down. So far the process is irreversible until we finally see the vaccine working. 

Potential risks 

On Tuesday the reports of the retail sales were public, showing that the numbers have changed to way lower than expected and predicted by the experts. Moreover, they added that there is the potential for slowing down even more. While the factory production accelerated, it still remained below levels prior to the whole pandemic. Jerome Powell, Federal Reserve Chair also commented stating that the increasing tendency of the coronavirus infected wakes up more concerns about the economic state. 

A very similar situation is in the forex industry. In forex, the most important part, which determines the success of your trades, is the change of the currency and whether your predictions regarding the changes were right or not. With the global pandemic and many other contributing circumstances, it has become really difficult to track the changes and the movement of the currencies. Currency rates change drastically and extremely fast. This is why speed in forex now is more important than ever. The positions have to be opened and closed within the period of time you think your predictions are right. Thus, with the extremely rushed rhythm, we are facing right now, it is very difficult to make everything swiftly. Thus, there is a list of who are the best ECN forex brokers, which will give direct access to other participants in currency markets, via the electronic communications network. This way the traders can proceed the trading way faster, which is one of the best ways to catch up with the fast rhythms of the dynamic forex industry.

Does the vaccine give a reason for optimism?

There are two new generation vaccines that have been introduced. One of them is Pfizer (PFE) and Moderna (MRNA). Businesses, as well as governmental representatives, lie in high hopes for the efficiency of the vaccine, as this is the only helping hand and surveillance in this situation. So far, there is a 95% probability of the success of the vaccine, yet we still have some time until the vaccine gets into mass production and the whole world gets back to normal life. 

The stocks are the clearest example and signals of the major economic slump and collapse. The global stock edged lower from a record on Tuesday, as a rising coronavirus case raised some new concerns and urgency for the lockdown in several states in the US. Some of the biggest names in the stock market are seeing a huge decline. Companies such as Nasdaq and S&P have talked about the losses, and there is hardly anything promising. 

While all stocks are falling lower, the stock share price of Tesla (TSLA) jumped to 8.2%, stating that the electric car markets shall be added to the S&P 500 in December. The increase in the price has been caused by the optimistic attitude of the investors, cheering the success numbers implied by Moderna. O on Monday. 

The head of research and trading at Harvest Volatility Management New York, Mike Zigmunt said that the following next months will be full of risk, and some unpleasant surprises might pop up, yet we should be getting to the end at that point. Other analysts warn us that the absence of the fiscal stimulus packages shall shake the economy even more until the vaccine is globally available. U.S. Senate Majority Leader Mitch McConnell said he is open to a $500 billion package, though this topic is not yet discussed within the parliamentary meeting, neither with President-elect Joe Biden. 

One more indicator of slowing down the economy is the Dow Jones Index, which fell 66.49 points, or 0.56%, to 29,783.95. The S&P 500.SPX lost 17.31 points, or 0.48%, to 3,609.6 and the Nasdaq Composite (COMP). IXIC dropped 24.79 points, or 0.21%, to 11,899.34,

British and Swedish shares also closed lower, with moving to the harsher restriction modes, with closing down all of the gathering spots and announcing full lockdown in England. Benchmark 10-year notes US10YT=RR last rose 11/32 in price to yield 0.8701%, from 0.906% late on Monday.

USD is losing its positions, falling 0.082%, while EUR is rising by 0.08% to $1.1862. And we can all smell the economic crisis by the corner.