Asian shares failed to recover on Monday as fears of Coronavirus keep on dominating the market, thus fueling the safe-haven bids. China is continually maximizing efforts to battle the nCov epidemic but the death toll still raised to more than 900 globally, surpassing the number killed by the SARS epidemic in 2003. A UK epidemiologist said that Coronavirus will peak in mid-to-late February even if it already infected around half a million people.
The Chinese factories and offices returned to work today to curb stock losses. Earlier CPI figures beat estimates and lifted the Aussie across the FX board. However, public dismay and mistrust of official numbers are evident in China’s Weibo, the equivalent to Twitter.
The key focus for today will be the Eurozone Investor Confidence and Canadian Housing data. But Coronavirus-related updates will continue to keep the investors on the edge.
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.