John Authers, Columnist

Oil's Done. Watch the Dollar as the Key Virus Gauge

The U.S. currency will be the critical variable for global markets in the next few weeks.

March 30, 2020 at 4:43 AM UTC

John Authers is a senior editor for markets and Bloomberg Opinion columnist. A former chief markets commentator at the Financial Times, he is author of “The Fearful Rise of Markets.”

Reading the signs.
Photographer: Valerie Loiseleux/Getty Images

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Another week is started, with another landmark. The price of Brent crude has fallen to a fresh 17-year low. The oil shock hasn’t finished reverberating through international markets. The huge shock to supply from the breakdown of OPEC has now arguably been priced in. The critical question is the long-term future for demand as the world enters a coronavirus-induced recession: