Forex Marketz Daily Forex News – Fully Markets Update
Asian and Pacific Rim markets were mostly in the green by lunchtime. Official Chinese manufacturing data met expectations, thus improving sentiment. However, regional traders are still worried about the fast spreading Wuhan strain of the Corona virus.
Asian and Pacific Rim traders are still monitoring the spread of the deadly Corona virus. The World Health Organization (WHO), overnight, declared the coronavirus a global emergency. The death toll in China is now at 213 and there are reported cases in 18 countries.
The Director General of the WHO said that he “doesn’t recommend – and actually opposes” travel restrictions or any restrictions on trade, as well. He says that the actions being taken by Beijing could “reverse the tide.”
The Asian benchmark, in Japan, the Nikkei 225, was trading higher despite paring early gains. The Nikkei was up over one percent as shares of robot maker Fanuc added 1.64 percent. The broader Topic index added three quarters of a percent.
The South Korean Kospi composite index bucked the trend throughout Asia to fall nearly a quarter of a percent.
In Hong Kong, the Hang Seng index was up 0.22 percent and the Australian S&P ASX 200 added 0.19 percent.
Asian Traders Wait on Key Economic Data to be Released from Canada, U.S. and Europe
On the European economic calendar is a whole slew of flash consumer price indices (CPI) as well as economic growth data out of Spain and Italy. Germany is releasing monthly retail sales numbers.
Canada will be releasing their gross domestic product (GDP) data as well as the monthly RMPI gauge. Their monthly IPPI gauge is also on the docket.
The United States, is releasing the Federal Reserve’s preferred gauge of inflation, the monthly core and non-core PCE price inflator.
The U.S. is also publishing the Chicago purchasing managers’ index (PMI) and the revised University of Michigan’s consumer sentiment gauge. Also expected today is monthly personal spending data.
