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Coronavirus Stays in Spotlight; EUR Slides on ECB, EZ and UK PMIs in Focus


Most major EU indices traded in the red for another day, and while the US ones managed to gain somewhat, the negative sentiment rolled over the Asian morning today. Investors stayed concerned over a coronavirus spread, as Chinese travel home and abroad due to the Lunar New Year long holiday. The ECB held policy steady yesterday, but Lagarde sounded more dovish that many may have expected. As for today, the economic releases that may attract the most attention may be the Eurozone an UK preliminary PMIs for January.

Investors Stay Concerned Over a Coronavirus Spread

The dollar traded mixed against the other G10 currencies on Thursday and during the Asian morning Friday. It gained versus EUR, AUD, SEK, CHF and NOK in that order, while it underperformed against NZD, CAD and slightly against JPY. The greenback was found virtually unchanged against GBP.

Once again, there is no clear pattern in the FX performance pointing to the direction of the broader market morale. However, turning our...

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Source: https://www.jfdbank.com/en/research/coronavirus-stays-in-spotlight-eur-slides-on-ecb-ez-and-uk-pmis-in-focus-200124
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