Markets turn cautious as virus news trumps....>

FOREX: Markets turn cautious as virus news trumps NFP hopes

- News of a further 41 cases of Coronavirus on a cruise ship with 3,700

passengers docked in Yokohama, Japan overnight curtailed risk in the

Asia-Pacific session, which has filtered through well into the European morning.

This helped buoy the JPY to the top of the pile in G10 and worked against

Antipodean FX, resulting in AUD/USD returning to its bearish trend and testing

multi-month lows.

- Singapore's decision to raise the country's response level to the Coronavirus

also helped unsettle markets, with lower equities the result in early European

trade. Much of the focus switches to today's nonfarm payrolls release, with

private surveys earlier in the week suggesting it could be a decent reading.

Consensus is for a 165k reading, but the street is far more bullish with the

whisper number at +180k.

- Outside of nonfarm payrolls, the Canadian jobs report is also due with the

unemployment rate seen rising 0.1ppts. There are no speakers of note.