Author: Justin Low

Investors are brushing aside the virus fears

SHCOMP
ForexLive
The Shanghai Composite index was down by around 1% earlier today but has recovered strongly over the past few hours as China vows to take measures to prevent and control the new coronavirus outbreak.

Markets were largely gripped by fear in trading yesterday but that seems to be receding now as we are seeing more optimistic tones across asset classes.

US futures are up by ~0.5% while bond yields are also creeping back higher as we start to move towards European trading. Meanwhile, gold is also down by 0.3% to $1,553.10.

In the currencies space, USD/JPY is sitting higher slightly back above the 110.00 level as investors are seemingly less fearful about the situation currently.

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Wed 22 Jan 2020 05:32:54 GMT

Finding value in fear

It is not every day that markets get caught out by overwhelming fear ForexLive The new coronavirus outbreak brings back many lessons in markets and one of them is to not be too blinded by the fear.

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Finding value in fear


//az705044.vo.msecnd.net/20200122/1-22-2020-1-15-08-pm.png Justin Low
Wed 22 Jan 2020 05:32:54 GMT
Author: Justin Low
Category: Education
0


It is not every day that markets get caught out by overwhelming fear ForexLive The new coronavirus outbreak brings back many lessons in markets and one of them is to not be too blinded by the fear.

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Trade ideas thread - European session 21 January 2020
Asset 41
Wed 22 Jan 2020 05:07:45 GMT

Economic data coming up in the European session

Not much on the data docket before North American trading The timing of the outbreak is a bit unfortunate, with the hectic travel period during the Chinese New Year holidays this week coming up. The real fear is whether or not the infection may turn out to be as impactful as the SARS virus back in 2002-03.

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Economic data coming up in the European session


//az705044.vo.msecnd.net/20200122/1-22-2020-1-06-34-pm.png Justin Low
Wed 22 Jan 2020 05:07:45 GMT
Author: Justin Low
Category: News
0
Not much on the data docket before North American trading The timing of the outbreak is a bit unfortunate, with the hectic travel period during the Chinese New Year holidays this week coming up. The real fear is whether or not the infection may turn out to be as impactful as the SARS virus back in 2002-03.

Asset 24 View More
Wed 22 Jan 2020 04:45:27 GMT

Foxconn's Gou advises company employees not to visit mainland China over New Year holiday

Foxconn Technology Group founder Terry Gou Well, probably sensible advice. Good he said 'the mainland' too otherwise he might find himself in strife.  Foxconn is a huge, huge supplier to Apple. They've had issues with treatment of employees in the past too. Unrelated to this news. 

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Foxconn's Gou advises company employees not to visit mainland China over New Year holiday


https://az705044.vo.msecnd.net/20200122/foxconn.png Eamonn Sheridan
Wed 22 Jan 2020 04:45:27 GMT
Category: News
0
Foxconn Technology Group founder Terry Gou Well, probably sensible advice. Good he said 'the mainland' too otherwise he might find himself in strife.  Foxconn is a huge, huge supplier to Apple. They've had issues with treatment of employees in the past too. Unrelated to this news. 

Asset 24 View More
Wed 22 Jan 2020 04:26:06 GMT

Goldman Sachs says oil markets are likely to take a hit from China’s coronavirus

GS saying jet fuel is particularly vulnerable (using the 20030 SARS epidemic as a guide - The International Air Transport Association estimated a decline of 8% in annual traffic for Asian airlines during that outbreak)

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Goldman Sachs says oil markets are likely to take a hit from China’s coronavirus


Eamonn Sheridan
Wed 22 Jan 2020 04:26:06 GMT
Category: News
0
GS saying jet fuel is particularly vulnerable (using the 20030 SARS epidemic as a guide - The International Air Transport Association estimated a decline of 8% in annual traffic for Asian airlines during that outbreak)

Asset 24 View More
Wed 22 Jan 2020 03:56:43 GMT

ForexLive Asia FX news wrap: Coronavirus the focus again

Forex news for Asia trading Wednesday 22 January 2020       China coronavirus news:   Other:   Of note in the data today the 'green shoots' in Asia look to have continued with the South Korean Q4 GDP report showing the fastest growth q/q since 2017 (its ain't all roses, y/y growth was the slowest since 2009)

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ForexLive Asia FX news wrap: Coronavirus the focus again


https://az705044.vo.msecnd.net/20200122/audyen-wrap-chart.png Eamonn Sheridan
Wed 22 Jan 2020 03:56:43 GMT
Category: News
0
Forex news for Asia trading Wednesday 22 January 2020       China coronavirus news:   Other:   Of note in the data today the 'green shoots' in Asia look to have continued with the South Korean Q4 GDP report showing the fastest growth q/q since 2017 (its ain't all roses, y/y growth was the slowest since 2009)

Asset 24 View More
Wed 22 Jan 2020 03:18:34 GMT

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Thailand says 4 confirmed cases of coronavirus

It was only yesterday (or the day before?) there was only one in Thailand 4 now confirmed  - 3 are Chinese, 1 is Thai - all 4 travelled from Wuhan ForexLive

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Thailand says 4 confirmed cases of coronavirus


Eamonn Sheridan
Wed 22 Jan 2020 03:18:34 GMT
Category: News
1
It was only yesterday (or the day before?) there was only one in Thailand 4 now confirmed  - 3 are Chinese, 1 is Thai - all 4 travelled from Wuhan ForexLive

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Wed 22 Jan 2020 03:11:40 GMT

Macau confirms first case of coronavirus

Macau is part of China  more to come   Also, Taiwan's President has banned tour groups from Wuhan  - & has called on mainland China to share info on the virus with Taiwan

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Macau confirms first case of coronavirus


Eamonn Sheridan
Wed 22 Jan 2020 03:11:40 GMT
Category: News
0
Macau is part of China  more to come   Also, Taiwan's President has banned tour groups from Wuhan  - & has called on mainland China to share info on the virus with Taiwan

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Wed 22 Jan 2020 03:06:16 GMT

Coronavirus news conference - virus adapting, mutating

Keeping updated on this press conference in China -  China Disease Control Center head Gao China's national health commission official  NHC say the children are not as susceptible to this new coronavirus as they were with SARS. I guess if there is any encouraging news out of this presser that's it. 

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Coronavirus news conference - virus adapting, mutating


Eamonn Sheridan
Wed 22 Jan 2020 03:06:16 GMT
Category: News
0
Keeping updated on this press conference in China -  China Disease Control Center head Gao China's national health commission official  NHC say the children are not as susceptible to this new coronavirus as they were with SARS. I guess if there is any encouraging news out of this presser that's it. 

Asset 24 View More
Wed 22 Jan 2020 03:00:53 GMT

Global turmoil - China virus, US President impeachment trial, Canadian PM buys donuts

Yes that's right, the first two you'll have heard of but the third one is being ignored by the MSM!!! Canadian Prime Minister Justin Trudeau bought donuts at Winnipeg bakery Oh Doughnuts on Tuesday. Canadian media report on the outrage:

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Global turmoil - China virus, US President impeachment trial, Canadian PM buys donuts


https://az705044.vo.msecnd.net/20200122/trudeau.png Eamonn Sheridan
Wed 22 Jan 2020 03:00:53 GMT
Category: News
0
Yes that's right, the first two you'll have heard of but the third one is being ignored by the MSM!!! Canadian Prime Minister Justin Trudeau bought donuts at Winnipeg bakery Oh Doughnuts on Tuesday. Canadian media report on the outrage:

Asset 24 View More
Wed 22 Jan 2020 02:48:14 GMT

Coronavirus - infection among medical workers validate the people-to-people transmission

Global Times in China with this: IF there is any sugar coating on with this news its not coming from the folks at the Global Times.  And, this from People's Daily, also not pulling punches:

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Coronavirus - infection among medical workers validate the people-to-people transmission


Eamonn Sheridan
Wed 22 Jan 2020 02:48:14 GMT
Category: News
0
Global Times in China with this: IF there is any sugar coating on with this news its not coming from the folks at the Global Times.  And, this from People's Daily, also not pulling punches:

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Wed 22 Jan 2020 02:42:07 GMT

China says infection of medical staff in virus outbreak show there are loopholes in treatment methods

China Disease Control Center head Gao - asked to compare deadliness of new virus to sars, says still learning about new virus China's National Health Commission official Jiao 

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China says infection of medical staff in virus outbreak show there are loopholes in treatment methods


Eamonn Sheridan
Wed 22 Jan 2020 02:42:07 GMT
Category: News
0
China Disease Control Center head Gao - asked to compare deadliness of new virus to sars, says still learning about new virus China's National Health Commission official Jiao 

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Wed 22 Jan 2020 02:36:54 GMT

Global Times confirms the key take aways of the coronavirus news conference

New conference first post is here: I posted the 'between the lines" key points here: China's Global Times now confirms that pessimistic take: - The source of the #nCoV2019 infection is yet to be ascertained. 

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Global Times confirms the key take aways of the coronavirus news conference


Eamonn Sheridan
Wed 22 Jan 2020 02:36:54 GMT
Category: News
0
New conference first post is here: I posted the 'between the lines" key points here: China's Global Times now confirms that pessimistic take: - The source of the #nCoV2019 infection is yet to be ascertained. 

Asset 24 View More
Wed 22 Jan 2020 02:25:32 GMT

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Reading between the lines on this coronavirus news conference

The comments here: But if you wanted key take aways this would do:  - source of the new coronavirus infection has not been found - route of transmission is not yet fully understood Bottom line is this is likely to get worse before it gets better. 

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Reading between the lines on this coronavirus news conference


Eamonn Sheridan
Wed 22 Jan 2020 02:25:32 GMT
Category: News
1
The comments here: But if you wanted key take aways this would do:  - source of the new coronavirus infection has not been found - route of transmission is not yet fully understood Bottom line is this is likely to get worse before it gets better. 

Asset 24 View More
Wed 22 Jan 2020 02:08:30 GMT

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China coronavirus news conference - 440 cases, 9 deaths

China National Health Commission press briefing. From Li Bin, the vice director of National Health Commission: -  there are 9 deaths from virus, all in Hubei Headlines via Bloomberg

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China coronavirus news conference - 440 cases, 9 deaths


Eamonn Sheridan
Wed 22 Jan 2020 02:08:30 GMT
Category: News
2
China National Health Commission press briefing. From Li Bin, the vice director of National Health Commission: -  there are 9 deaths from virus, all in Hubei Headlines via Bloomberg

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Wed 22 Jan 2020 01:54:34 GMT

China stocks - Shanghai Composite drops to lowest this year

Stay tuned for a press conference out of China on the coronavirus:  China stocks not waiting, Shanghai Comp down circa 1%  to its lowest for the year so far 

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China stocks - Shanghai Composite drops to lowest this year


Eamonn Sheridan
Wed 22 Jan 2020 01:54:34 GMT
Category: News
0
Stay tuned for a press conference out of China on the coronavirus:  China stocks not waiting, Shanghai Comp down circa 1%  to its lowest for the year so far 

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Wed 22 Jan 2020 01:27:17 GMT

USD is ticking higher almost across the board

While ranges are not large some notable moves - USD/CHF is steadily moving higher  USD/JPY also up.   Losing ground too are AUD and NZD, EUR back to is late US time lows (early Asia lows if you prefer)

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USD is ticking higher almost across the board


Eamonn Sheridan
Wed 22 Jan 2020 01:27:17 GMT
Category: News
0
While ranges are not large some notable moves - USD/CHF is steadily moving higher  USD/JPY also up.   Losing ground too are AUD and NZD, EUR back to is late US time lows (early Asia lows if you prefer)

Asset 24 View More
Wed 22 Jan 2020 01:18:25 GMT

PBOC sets USD/ CNY reference rate for today at 6.8853 (vs. yesterday at 6.8606)

People's Bank of China sets the onshore yuan weaker on the session  This is a hefty devaluation for the CNY, biggest slice from its value in one day setting since August last year 

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PBOC sets USD/ CNY reference rate for today at 6.8853 (vs. yesterday at 6.8606)


Eamonn Sheridan
Wed 22 Jan 2020 01:18:25 GMT
Category: Central Banks
0
People's Bank of China sets the onshore yuan weaker on the session  This is a hefty devaluation for the CNY, biggest slice from its value in one day setting since August last year 

Asset 24 View More
Wed 22 Jan 2020 01:16:36 GMT

FX option expiries for Wednesday January 22 at the 10am NY cut

USD/JPY  GBP/USD  AUD/USD  USD/CAD  EUR/GBP ForexLive

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FX option expiries for Wednesday January 22 at the 10am NY cut


Eamonn Sheridan
Wed 22 Jan 2020 01:16:36 GMT
Category: Forex Orders
0
USD/JPY  GBP/USD  AUD/USD  USD/CAD  EUR/GBP ForexLive

Asset 24 View More
Wed 22 Jan 2020 00:48:39 GMT

Coronavirus - China National Health Commission press briefing at 0200GMT

10am Beijing time  Coming up real soon.    I am pretty sure its compulsory to accompany items such as this with the obligatory face mask pic, no?

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Coronavirus - China National Health Commission press briefing at 0200GMT


https://az705044.vo.msecnd.net/20200122/face-mask.png Eamonn Sheridan
Wed 22 Jan 2020 00:48:39 GMT
Category: News
0
10am Beijing time  Coming up real soon.    I am pretty sure its compulsory to accompany items such as this with the obligatory face mask pic, no?

Asset 24 View More
Wed 22 Jan 2020 00:40:19 GMT

Iran missile attack - Additional US troops have been flown from Iraq to Germany for evaluation of injuries

Within hours of the attacks US authorities assured us 'All is well' and there were not US troops injured. Last week we get the news though that 11 US service members were flown out from Iraq to US medical facilities in Germany and Kuwait for further evaluation, some of the casualties said to be traumatic brain injuries. 

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Iran missile attack - Additional US troops have been flown from Iraq to Germany for evaluation of injuries


https://az705044.vo.msecnd.net/20190905/trump-iran.png Eamonn Sheridan
Wed 22 Jan 2020 00:40:19 GMT
Category: News
0
Within hours of the attacks US authorities assured us 'All is well' and there were not US troops injured. Last week we get the news though that 11 US service members were flown out from Iraq to US medical facilities in Germany and Kuwait for further evaluation, some of the casualties said to be traumatic brain injuries. 

Asset 24 View More
Wed 22 Jan 2020 00:18:40 GMT

Australian jobs report is due on Thursday 23 January - preview

I posted a preview of this earlier (and why its important) here: A few snippets from about the place on what to expect tomorrow: ANZ: TD: Daiwa: ForexLive

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Australian jobs report is due on Thursday 23 January - preview


Eamonn Sheridan
Wed 22 Jan 2020 00:18:40 GMT
Category: News
0
I posted a preview of this earlier (and why its important) here: A few snippets from about the place on what to expect tomorrow: ANZ: TD: Daiwa: ForexLive

Asset 24 View More
Wed 22 Jan 2020 00:02:24 GMT

Wednesday 22 January 2020 is Bank of Canada monetary policy meeting day - preview

Spoiler is that no change is the expectation, but there is more to it. - Current benchmark rate is at 1.75%, no change expected. But, say TD (bolding mine): Scotia:

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Wednesday 22 January 2020 is Bank of Canada monetary policy meeting day - preview


Eamonn Sheridan
Wed 22 Jan 2020 00:02:24 GMT
Category: Central Banks
0
Spoiler is that no change is the expectation, but there is more to it. - Current benchmark rate is at 1.75%, no change expected. But, say TD (bolding mine): Scotia:

Asset 24 View More
Tue 21 Jan 2020 23:31:33 GMT

Australian data - another drop for consumer confidence, deeper into pessimistic zone

Westpac Consumer Confidence Index for January down 1.8% To 93.4  - prior -1.9% to 95.1 The bushfires cited as reasoning for the further drop. Coulda been worse says WPAC:

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Australian data - another drop for consumer confidence, deeper into pessimistic zone


Eamonn Sheridan
Tue 21 Jan 2020 23:31:33 GMT
Category: News
0
Westpac Consumer Confidence Index for January down 1.8% To 93.4  - prior -1.9% to 95.1 The bushfires cited as reasoning for the further drop. Coulda been worse says WPAC:

Asset 24 View More
Tue 21 Jan 2020 23:04:01 GMT

Data from South Korea - Q4 2019 GDP fastest growth since 2017

As a bonus if you are reading the post …. GDP increased by 2.0% annually in 2019, slowest since 2009 Can't win 'em all, eh? More: Q4 2019 GDP s/adj +1.2% q/q (beating the expectations Reuters poll +0.8%) 

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Data from South Korea - Q4 2019 GDP fastest growth since 2017


Eamonn Sheridan
Tue 21 Jan 2020 23:04:01 GMT
Category: News
0
As a bonus if you are reading the post …. GDP increased by 2.0% annually in 2019, slowest since 2009 Can't win 'em all, eh? More: Q4 2019 GDP s/adj +1.2% q/q (beating the expectations Reuters poll +0.8%) 

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