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The novel coronavirus retains the spotlight...>

FOREX
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.
Energy BulletsCommodities
Energy BulletsCommodities

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