A press briefing on the coronavirus...........>

FOREX: A press briefing on the coronavirus situation from China's National

Health Commission soothed the nerves somewhat, applying pressure to safe haven

assets, as officials laid out some preventative measures in play. USD/JPY was

already trading higher as the Nikkei 225 climbed into positive territory, but

the briefing saw it extend gains past Y110.00. Meanwhile, the Antipodeans moved

away from their worst levels. They were heavy initially, following the formation

of a head and shoulders reversal pattern in AUD/USD & the publication of an AFR

piece re: AOFM making contingency plans in case the RBA decides to go ahead with

a QE programme. The Scandies led gains in the G10 basket.

- The yuan regained poise after showing above y'day's lows vs. USD. Its recovery

spilled over into the broader Asian FX space, allowing KRW to capitalise on

strong domestic GDP figures released ahead of the open. Worth noting that BoK

and BI off'ls aired their concern with potential economic impact of the virus.

- The Bank of Canada's monetary policy decision, Canadian CPI and U.S. existing

home sales headline the economic docket. BoC Gov Poloz will hold a post-MonPol

presser, BoE Gov Carney will speak on climate change in Davos.