Market Recap

The coronavirus outbreak and the impact on economy is yet to be estimated. CNY, AUD and NZD are all having a bad day. Yesterday, Apple announced that they are experiencing a slower return to normal conditions of their manufacturing in China, than anticipated on January 28. Manufacturing facilities and stores are re-opening, but they are working with less staff. Opened Stores are working limited hours. Today, HSBC is announcing its earning and market participants would focus on the impact of Hong Kong protest and the coronavirus outbreak.

The bellow charts from Nomura give some color.

Coronavirus impact

Our yesterday’s recap, was pointing to the probability of GBP weakening on the grounds that UK’s chief Brexit negotiator would use tough words at his speech on Monday. Both happened.

Macro releases:  Today’s economic calendar includes the German & European ZEW Economic Sentiment, the UK unemployment rate & number of people claiming unemployment related benefits, and the US housing market index.

CopyTrade at ZuluTrade


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