Markets are calmer and Asian stocks bounced back after Beijing announced more measures to help the economy. Amid coronavirus fears, Chinese President Xi Jinping says that the dragon nation will be able to meet this year’s growth target. Coronavirus has already taken the lives of over 2,000 people globally but data from Hubei mand mainland China suggests a steady decline in the infections. However, cases from the cruise ships in Japan and Cambodia stand tall and could exact a global toll.
The main highlight in Wednesday’s macro calendar is the UK CPI for January which is expected to accelerate. Brexit-related headlines will also be eyed. In the US, Building Permits, PPI, and Housing Starts figures will also be released. Canada will have CPI data as well. The FOMC Meeting Minutes are also focused on, followed by the speeches from Fed officials.
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