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US and EU coronavirus cases spike in contrast with trends in South America and Asia

Weekly investor research

26 October 2020

The second waves of coronavirus cases gathered strength in the US and Europe in contrast with lower case numbers in South America and Asia. The Polish current account balance improved to a record level. Brazil signed three bilateral agreements with the United States. Thailand registered a record trade surplus amidst continuing calls for the resignation of the Prime Minister. The Chinese government indicated that RMB strength is justified by fundamentals, thus opening the door for further appreciation. In Lebanon, Saad Hariri was named Prime Minister. Zambia postponed the date for a vote on a debt standstill proposal. Argentina’s fiscal and external accounts deteriorated further. Nigerian protests intensified after the military shot protesters in Lagos. Turkey kept policy rates unchanged. Oman issued USD 2bn of Eurobonds amidst economic uncertainty. The Peruvian parliament called for a new impeachment motion against the president. Chileans vote to start the process of reforming the country’s constitution.

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