Coronavirus Update: HUGE Impact on Chinese Auto Sector

Welcome to our weekly trading preview, your trusty dose of market updates, insights, and info. This week we’ll bring you an alarming update on the impact of the coronavirus (COVID-19) on the Chinese economy, followed by our rundown of the most important events for your trading calendar, uncovering those that are potentially the most volatile. Let’s begin!

Chinese Car Sales Almost Wiped Out

Car sales in China fell by a monumental 92% during the first half of February. Why? We’ll give you one guess. Yep, the coronavirus shutdown has already begun taking its toll on the Chinese economy.

What Does This Mean?

China is the world’s biggest car market, selling just over 21 million cars last year. The US is the second-biggest market. Now, when car sales in the world’s biggest car market drop by 92% people start to get more than a little twitchy.

Trading highlights of the week

A relatively quiet week of trading opportunities lies ahead. Your time is precious, so we’ll get to the point.

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