Markets hopeful of 'huge' virus response -....>

FOREX: Markets hopeful of 'huge' virus response

- Equities cautiously progressed Thursday, with traders watching for any

positive signals from the EU Council meeting due to conclude imminently. The

German Chancellor Merkel stated the economic response to Coronavirus should be

'huge', suggesting a deal could be struck in short order. The sticking point

remains grants vs. loans, with those looking for detail left wanting.

- Global asset prices did hit a speed bump after the EU close on FT reports that

Gilead's Remdesivir drug had failed its first trial in China, failing to

meaningfully reduce the presence of the pathogen. Some of the concern was

shrugged off as Gilead claimed the study ended due to low enrolment, but caution

remained.

- EUR/JPY was trading at a multi-year low before bouncing on Nikkei reports that

the BoJ could consider unlimited bond purchases at its next decision.

- Friday is a particularly busy one for data releases, with Japanese CPI data,

UK retail sales, German IFO survey, US durable goods orders and Uni. of Michigan

sentiment figures all due.