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AUSSIE 10-YEAR TECHS

(Z1) Off Lows, But Remains Weak

USDCAD TECHS

Still Vulnerable

AUDUSD TECHS

Bullish Price Sequence

FOREX
FOREX: G10 space is in a risk-off mode, with JPY leading gains as regional
equity benchmarks have faltered. Some look at the communique from Japan's Health
Ministry as a potential catalyst, as it pointed to further 41 cases of Wuhan
coronavirus confirmed on the cruise ship docked in Yokohama - a reminder that
the situation continues to escalate. An element of correction of recent hopes
for potential containment may be in play as well. Otherwise, speeches from RBA
Gov Lowe & Fed Vice Chair Quarles drew some attention, but neither did much to
move the needle.
- USD/CNH has crept higher, but still trades well off CNH7.0. USD/KRW has
rallied, the won is the worst performer in Asia. Most of the Asian EMFX basket
have been pressured. PHP has been unfazed as BSP Gov Diokno said that he sees
the next rate cut around mid-2020.
- The focus turns to Chinese trade balance, U.S. NFP report, Canadian jobs data,
Norwegian GDP, as well as German, French & Norwegian industrial outputs. The Fed
releases its semi-annual MonPol report.
MNI London Bureau | +44 203-865-3806 | krzysztof.kruk@marketnews.com
MNI London Bureau | +44 203-865-3806 | krzysztof.kruk@marketnews.com