Dollar Firmer after Hitting Support, While Risk Aversion Eases Mildly
Risk aversion continues today but selloff in the stock markets seem to be easing a bit, with major European indices off lows at the time of writing. Global coronavirus outbreak remains the main focus, with South Korea’s cases surge again...
Aussie Tumbles as Risk Aversion Continues on Global Coronavirus Pandemic Fear
Risk aversion continues in Asian session today, following the worst 2-day percentage drop in DOW in two years. Nevertheless, panic is no spreading to other markets so far. Gold is staying in consolidation below 7-year high of 1689, currently hovering...
Markets in Digestion Mode, Awaiting Next Coronavirus Development
Global financial markets turned mixed today, digesting yesterday’s steep selloff. Investors are holding their bets again, awaiting next development regarding global outbreak of China’s Wuhan coronavirus. There is no sign of a sustainable recovery European stocks, but US futures point...
Risk Aversion Dominates as China Coronavirus Spreads Quickly Globally
Risk aversion dominates the financial markets as global outbreak of China’s Wuhan coronavirus worsens. DOW suffered the third-worst point drop in history overnight. 30-year yield hit new record low while 10-year yield also hit 3-year low. Though, Asian markets turned...
European Markets Crash on Coronavirus Outbreak in Italy, Risk Aversion Intensifies
Global markets are clearly in deep risk-off mode today. In particular, with the sudden explosion in coronavirus cases in Italy (150 infections and 4 deaths), European stocks are suffering their biggest plunge since 2016. Italian stocks leads the decline, down...
Risk Aversion Deepens as China Coronavirus Spreads Quickly to other Countries
Risk aversion deepens in global financial markets today as China’s Wuhan coronavirus is clearly spreading to other countries. Gold surges to seven-year high on safe haven flow while Asian stocks are generally pressured. The currency markets are relatively quiet though...
Safe Haven Flows into Gold and Treasuries on China Coronavirus Contagion
Outbreak of China’s Wuhan coronavirus continued to be a big market mover last week. According to China’s own numbers, new cases in the country seemed to have slowed even though new daily deaths maintained at around 100 level. What’s worrying...
European Majors Recover after UK and Eurozone PMIs
European majors recover today following better than expected PMI data from UK and Eurozone. Concerns of China’s coronavirus hasn’t materialized into business confidence data yet. On the other hand, commodity currencies are generally lower, followed by Dollar. For the week,...
Markets Worried as Coronavirus Outbreak Widens, Aussie Decline Continues
Market moods turned sour again today as outbreak of the coronavirus seems to be getting more serious outside China. In particular, South Korea cases surged by 52 to 156. In China, there were 889 new confirmed cases yesterday, with total...
Dollar Firm after Solid Job and Manufacturing Data, Selling Focus Turns to Sterling
Dollar remains generally firm today as supported by solid job and manufacturing data. Euro’s selloff seem to have temporary passed a near term climate and focuses turn to other major currencies. Australian Dollar suffer deep selling after job data, dragging...
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