Risk-off prevailed overnight on concerns about coronavirus - ANZ
|Analysts at ANZ bank noted that it has been risk-off prevailing overnight on concerns about coronavirus, which has claimed 17 lives, with more than 600 confirmed cases in China, and confirmed cases in a range of other countries.
Key notes
"Efforts are being made to contain the virus and its devastating impact (with fears that it could be like SARS in 2003). The outbreak will have directly hit tourism, retail and related sectors in China, with risks to industrial production."
"US trade developments added to the risk-off tone, while it was a quiet day for data (with markets awaiting PMI data for the US, UK and euro area)."
"The US 10-year yield was 4.7bps lower at 1.722%. Bund yields were 4.8bps lower at 30.8 bps. The S&P 500 fell 0.3%; DAX and FTSE were down 0.9%. WTI fell 3.1% to USD55.0/bbl on virus-related demand concerns. Gold was up 0.6%."
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.