Coronavirus confirmed on US shores sends......>

FOREX: Coronavirus confirmed on US shores sends risk running

- US Senators confirmed further cases of Coronavirus on US shores late on

Friday, sending risk assets tumbling into the close to the benefit of the JPY,

CHF and the USD index. Treasuries had a very firm session, pressuring the yield

curve lower and flatter, and helping sap risk appetite out of equities, which

sank sharply in the US. The moves worked against EMFX and Antipodeans, prompting

AUD/USD to hit fresh 2020 lows.

- The much-hyped PMI release morning managed to beat market consensus across

both manufacturing and services sectors, resulting in the best composite PMI

read for over a year. Nonetheless, particularly strong survey-based soft data

headed into the release had the street looking for readings as high as 55.0. As

such, the post-data GBP rally fizzled out quickly, with markets still judging

there's a very decent chance of a BoE rate cut next week.

- German IFO data, the MNI Chicago PMI, Australian inflation numbers, regional

German CPIs and Chinese PMI data are due next week, as well as the Federal

Reserve and BoE rate decisions.