The market is weighed down by coronavirus concerns still
With Treasury yields slipping to their lowest levels since September last year, the mood in the market is looking rather pessimistic ahead of the weekend.
This largely owes to concerns surrounding global growth with the coronavirus outbreak seen worsening in Japan and South Korea in recent days - although China is reportedly getting better, at least from what the national numbers are suggesting.
US futures are lower and European stocks also look set to open in similar vein later today.
In the currencies space, the aussie and kiwi are continuing their free-fall lower with AUD/USD reaching 0.65XX levels while NZD/USD is making fresh lows for the year still.
Narrow ranges are still prevailing for the most part among other major currencies, but the yen is regaining some stability today amid the softer risk mood with USD/JPY just back under the 112.00 level for now.
That said, the divergence below still needs some paying attention to:
Looking ahead today, PMI data releases in Europe will be the key thing to watch. That will not only affect the euro and pound but also might well have a say as to whether or not the negative risk mood may extend as we look towards the weekend break.
