The ever-spreading Wuhan coronavirus sent a...>

FOREX: The ever-spreading Wuhan coronavirus sent a risk-off impulse through the

FX space, as new deaths & infections were recorded in China. The government

deployed a mix of measures to address the crisis& extended Lunar New Year

holidays until Feb 2. While onshore trading remains closed for LNY, USD/CNH

defied the formation of a 50-/200-DMA "death cross" and surged past the CNH6.95

mark, albeit failed to make headway beyond the Jan 6 high of CNH6.9777.

- Safe havens were well bid. JPY led gains in the G10 basket, with USD/JPY

gapping lower at the open & testing the water under Y109.00. Antipodean FX sold

off on a flight to safety. Australia confirmed that a fifth person in the

country contracted coronavirus, as reported earlier by the local press.

- Selling pressure hit Asian EMFX, with BI stepping in to curb IDR weakness.

- Highlighted risk-off moves played out as liquidity was dented by market

holidays in China, Australia, South Korea, Hong Kong, Singapore, Taiwan and

Malaysia & a regional holiday in Auckland, New Zealand.

- German Ifo Survey and U.S. new home sales take focus from here. ECB's Mersch

is the only central bank speaker of note today.