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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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Free AccessSpreading coronavirus epidemic worked.........>
FOREX: Spreading coronavirus epidemic worked against the fragile risk appetite.
Safe havens gradually firmed up, though the greenback struggled as U.S. Pres
Trump's special presser on the matter proved rather uninspiring, while the U.S.
declared its first Covid-19 case of unknown origin. Commodity-tied FX generally
lost some steam, albeit AUD traded mixed despite a poor headline reading of
Aussie Q4 private capex. G10 crosses stuck to fairly tight ranges.
- USD/KRW dipped as the BoK unexpectedly stood pat on policy, but promptly
staged an impulsive rebound as South Korea's case count surged to 1,595, with
the U.S. warning against unnecessary travel to the country & suspending joint
military drills with Seoul. MYR outperformed Asian EM peers with PM Mahathir set
to unveil stimulus package & amid hopes that domestic political turmoil will
ease. USD/CNH & USD/CNY drifted in opposite directions, both range-bound.
- USD/MXN was well bid after Banxico lowered its growth forecast yesterday.
- On the radar today are U.S. GDP data & flash durable goods, Swedish trade
balance & retail sales, as well as EZ economic sentiment indicators. Multiple
central bankers from the Fed, ECB & BoE are set to speak.
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.