FOREX STRATEGY FEB 10 - HOW THE VIRUS AFFECTS THE MARKET
It's been another week. Let's take a look at the latest events on February 10 and see what kind of trading strategies we, forex traders, should use today.
The cost of virus
Today, the Chinese central bank will offer the first special on-lent to combat the Corona virus and weekly will create favorable conditions for banks later this month. Mr. Liu Guoqiang - Governor of the People's Bank of China said: "There are 9 major national banks and some local banks in 10 provinces and cities are eligible for special funding. finance should speed up the review process of loan applications and release loans within 2 days."
Traders are watching
Asian stocks are likely to start fairly cautiously today after a best-performing week since mid-December as investors continue to watch the rising death toll from Corona virus. out. The majority of currencies were stable at the beginning of the session. Last Friday, the S&P 500 index fell along with Treasury Bond yields. The futures market in Hong Kong and Japan both fell, while the Australian market was less volatile. Investors were holding stocks that rose sharply last week, bringing global stocks back to an all-time high.
Things to notice
This week, Federal Reserve Chairman Jerome Powell works with lawmakers and the focus will be on risks for the US economy from Coronavirus. In addition, here are the highlights of this week:
- Chinese inflation data will be released on Monday. According to forecasts, production prices in January may not change compared to a year ago after 6 months of decline.
- Thursday will be the core consumer price index measuring the core inflation of the United States. The index is expected to increase to 0.2% in January - a faster increase compared to December.
- On Friday, the United States and China will lower tariffs on billions of dollars in imports respectively, as part of a trade agreement signed last month.