Investors Are Still Focused on Coronavirus

The US dollar strengthened against a basket of major currencies during yesterday's trading session. The dollar index (#DX) closed in the green zone (+0.10%). Coronavirus in China is still in the spotlight. The number of dead from disease has already exceeded 106, with the first fatal case recorded in Beijing. The US warned citizens from traveling to China. Financial markets continue to decline due to concerns about the effects of the virus.

The safe yen is being traded near a three-week high against the US dollar as investors turned to the safe-haven currencies amid rising risks. Asia was at the center of the coronavirus epidemic, so the Australian and New Zealand dollars showed the worst trading results. Investors expect a meeting of key central banks to be held this week.

The "black gold" prices have become stable after a continuous fall. At the moment, futures for the WTI crude oil are testing the $52.90 mark per barrel.

Market Indicators

Yesterday, there were aggressive sales in the US stock market: #SPY (-1.60%), #DIA (-1.53%), #QQQ (-2.07%).

The 10-year US government bonds yield fell again. At the moment, the indicator is at the level of 1.58-1.59%.

The Economic News Feed for 28.01.2020:
  • - Durable goods orders in the US at 15:30 (GMT+2:00);
  • - Consumer confidence index in the US at 17:00 (GMT+2:00).

by JustForex, 2020.01.28

We advise you to get acquainted with the daily forecasts for the major currency pairs.

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.

Open Account

Get Free Analytics

* required fields