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Bearish Risk Still Present


Modest Tail On 2Y Auction


E-Mini S&P Extends Bounce to 100 Points


Needle Still Points South

FOREX: The news flow remains infected by the Wuhan virus, with any fresh updates
drawing attention. Death toll rose to 106, with the no. of new cases reaching
just shy of 1,300. Reaction moves across the G10 FX space are far more muted
than yesterday. AUD & NZD trade on a softer note, facing additional pressure
from a deterioration in biz. sentiment indicated by NAB Business Confidence
Survey out of Oz. That being said, safe havens struggle for momentum too.
- Offshore yuan has stabilised and oscillates within a relatively tight range.
Onshore markets are closed, as are those in Hong Kong and Taiwan.
- South Korea returned from holidays with USD/KRW opening sharply higher in a
delayed reaction to the escalating coronavirus concern. The rate ebbed off highs
but remains elevated, despite a bearish 100-/200-DMA crossover. Elsewhere in
Asia, USD/THB tested its 200-DMA for the first time since the last day of 2018.
Bank Indonesia intervened to protect rupiah stability.
- U.S. Conf. Board Consumer Confidence & flash durable goods as well as Swedish
retail sales & trade balance are today's data highlights. ECB's Villeroy, Lane &
de Cos, as well as Riksbank's Ingves & Skingsley will speak.