The novel coronavirus retains the spotlight...>

FOREX: The novel coronavirus retains the spotlight with G10 FX sticking to

fairly tight ranges as we type. AUD has added a handful of pips vs. USD, defying

a pretty horrific Q4 capex print out of Australia. Its commodity-tied peers

trade on a softer note, while CHF leads gains in the space. Much awaited special

press conference with U.S. Pres Trump failed to bring any positive surprises,

which may have been disappointing at the margin. In addition, the U.S. confirmed

a Covid-19 case of unknown origin, which applied a modicum of pressure to USD.

- A surprise decision from the BoK to stand pat on policy briefly put a bid into

KRW, but the currency promptly faded the reaction move and extended losses amid

worrying headlines re: local coronavirus outbreak. South Korea confirmed 334 new

cases (1595 in total), the U.S. warned against unnecessary travels to South

Korea, while joint U.S.-South Korean military drills have been postponed.

- BoJ dovish dissenter Kataoka argued that the BoJ should cut interest rates.

- 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

Fed, ECB & BoE members are set to speak.