The market remains hopeful about the coronavirus outbreak slowing down
US futures are up by ~4% on the day while European equities are posting solid gains across the board on the session so far. The DAX is up by over 4% with most major indices seeing over 3% gains as we approach midday in Europe.
In the currencies space, the yen remain the weakest performing major currency with USD/JPY testing waters above 109.00 at around 109.10-20 levels currently.
Meanwhile, the aussie and kiwi are the two big gainers with the former holding a 1% gain against the greenback - climbing to 0.6060 levels now.
Hope springs eternal.
That is the phrase the comes to mind when viewing the mood today.
The trend in the virus outbreak in certain hot spots like Italy, Spain, Germany, France, New York, and New Jersey may be showing better signs recently but there are still lingering worries in many places such as the UK, Japan, and Singapore among others.
