Forex Marketz Daily Forex News – Fully Markets Update
The Asian and Pacific Rim markets were inching higher by the afternoon during the Asian trade session. Regional traders are weighing the concerns over the spread of China’s coronavirus which has now reached the United States.
Yesterday the U.S. Center for Disease Control (CDC) confirmed the first cases of the virus had reached their shores.
In Japan, the benchmark Nikkei 225 was up 0.59 percent and the broader Topix index in Tokyo was up 0.81 percent by lunchtime.
In South Korea, the Kospi composite index was also trading higher. Elsewhere in the Asian and Pacific Rim, the Australian ASX 200 was up just under one percent.
In Hong Kong, shares on the Hang Seng index, which shed three percent on Tuesday, added 0.8 percent by the afternoon.
On the mainland, in China, the headline bourses pared early losses after shedding over one percent. The Shanghai composite was down 0.23 percent and the Shenzhen component gained 0.3 percent.
Asian Traders Turn towards the BOC and Monitor the Coronavirus
The updated death toll from the coronavirus in China is now at nine deaths. Yesterday, the first case was reported in the United States. This sent the financial markets sharply lower, overnight, as traders worried about the economic toll from the outbreak. Tourists have canceled travel plans and global airports are increasing screening
On the economic calendar, the United States is scheduled to release existing home sales data.
The Bank of Canada will announce monetary policy and their rate decision, later today during the North American trade session. The BOC is also holding a press conference after the announcement.
Traders will look towards the bank’s press conference to see if the BOC is adopting a more of a dovish stance with future monetary policy. Canada is also releasing key inflation data with their consumer price index.
