Coronavirus pandemic fears intensify each day, especially after the World Health Organization (WHO), said that the virus is spreading faster outside China and likely to affect the global supply chain. Numbers rise in South Korea, while Denmark’s Health Ministry confirmed the first coronavirus infection on Thursday, as the virus outbreak rapidly spreads across the European continent. Meanwhile, Iraq has confirmed its sixth case of coronavirus. With the virus outbreak spread over 42 countries, the market mood remains sour with investors scurrying for safe-havens and selling off higher-yielding assets.
Asian equities traded with steep losses while the US equities and Treasury yields slumped. The Yen continues to draw bid amid broad risk-aversion. The focus will remain on incoming COVID-19 headlines. Policymakers’ speeches from BoJ, BoE, ECB, and the Fed will cause short-term market moves.
Other economic events for today:
1000 GMT: EUR Business Climate (Feb)
1330 GMT: USD Gross Domestic Product Price Index (Q4), Core PCE, GDP (Q4)
2100 GMT: NZD ANZ – Roy Morgan Consumer Confidence (Feb)
2330 GMT: JPY Tokyo Consumer Price Index (YoY) (Feb)
2350 GMT: JPY Industrial Production (YoY) (Jan)
NOTE: Traders are advised to be cautious and be updated on the major economic news causing high volatility to achieve better trading results.
Disclaimer: The content in this article comprises personal opinions and should not be construed as containing personal and/or other investment advice and/or an offer of and/or solicitation for any transactions in financial instruments and/or a guarantee and/or prediction of future performance. The Bullfx (thebullfx), its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness, of any information or data made available and assume no liability as to any loss arising from any investment based on the same.