Forex news for Asia trading Tuesday 28 January 2020
Official data from China showed a huge % jump in confirmed cases on the day. China's National Health Commission reported 1,771 new cases, taking the total confirmed in China to 4,515 cases and 106 deaths.
Here are the posts, read from the bottom up for chronology:
- Japan's Economy Minister Nishimura: Economy to be hit by coronavirus outbreak in China
- Coronavirus: 6000 medical workers from across China expected in Wuhan by tomorrow
- China's NHC says 1 week is sufficient to recover from a mild bout of coronavirus
- Here's a bank with a 'chill out' view on coronavirus
- China's NHC says confirmed coronavirus cases at 4,515
- China announces that the 2020 spring semester for schools will be postponed
- Coronavirus: British nationals returning from Wuhan to be quarantined for two weeks
- Coronavirus - Guangdong has 42 new cases confirmed
- Coronavirus - Hubei province on China confirms nearly 1300 new cases
- Coronavirus - US Centers for Disease Control and Prevention (CDC) investigating 110 potential cases
- Coronavirus update: Shanghai confirms 13 new cases, Henan confirms another 40
- Coronavirus - China's Tibet Autonomous Region has closed all tourism sites
- Coronavirus - Majority of bus services Beijing to Wuhan will be suspended from today
- Coronavirus - China railway traffic, passenger flights on the first day of lunar new year down big time y/y
- Coronavirus case confirmed in Germany - its first
- How coronavirus will impact oil markets - OPEC considering production cuts
- Coronavirus - Another city in China suspends transit
- Coronavirus fears unlikely to turn the Fed into doves
- Coronavirus - Canada has advised to avoid all travel to Hubei province in China
Other:
- Japan's Nikkei press report Apple plans to make about 10% y/y more iPhones in H1
- Singapore new legislation offers cryptocurrency firms a chance at licences to expand
- Deutsche Bank say a new digital currency could become mainstream within the next 2 years
- NZD traders - PM Ardern confirms September 19 for the election
- FX option expiries for Tuesday January 28 at the 10am NY cut
- Still to come - Bank of Japan Governor Kuroda to appear in parliament from 0840GMT
- New Zealand will have a general election on September 19
- Australia December business confidence -2 (vs. prior 0) & conditions 3 (vs, prior 4)
- "Global standard" gauge of currency misalignment has GBP 22% undervalued against the USD
- Trade ideas thread - Tuesday 28 January 2020
- BOE cut likely this week; GBP/JPY shorts most attractive - SocGen
- Dow and S&P have the worst day since October
As the second part of the headline to the post says, forex ranges for the majors were small indeed. USD/CHF and USD/JPY are both a few points to the better despite the increase in cases confirmed and deaths. But, yes, the ranges were tiny. As was the case elsewhere for AUD, GBP, EUR, NZD and CAD.
Even gold did not do much, its down just a few cents net for the session ehre after trying a little higher. BTC has managed to hold its gains, some positive news out of Singapore for it on the day (see bullets above).
Data focus was on the Australian business survey for December from National Australia Bank. Confidence and conditions both declined again.
BTC:
And, finally coronavirus summary of where we are at as of now:
- 4,500+ confirmed cases
- 106 fatalities
- 976 in serious/critical condition
- 60 treated and released
- Vast majority of cases in China
- 15 countries reporting cases
- 46 infections overseas
