Fear is increasing as China put cities on lockdown and cancels lunar new year events
The coronavirus fear has increased. Singapore announce its 1st case within it's borders. China has put cities on lockdown and other Lunar New Year events have been cancelled. Putting things in perspective the total deaths has risen to 25. This is still not a lot of people, but the fear is on getting worse than better, and actions by China should impact economic growth.
The snapshot a few minutes into the opening is showing
- S&P index,-15.17 points or -0.46% at 3306.58
- NASDAQ index -39.22 points or -0.42% and 9344.54
- Dow down 141.52 point surmise 0.48% at 29044.75
In the US debt market yields are lower:
- 2 year 1.493%, -3.5 basis points
- 5 year 1.5338%, -4.1 basis points
- 10 year 1.723%, -4.5 basis points
- 30 year 2.1719%, -4.9 basis points
in other markets,
- spot gold is only up $1.57 or 0.11% at $1560.30.
- WTI crude oil futures are trading lower and near the low price of the day. The price is trading at $55, down $1.74 or -2.98%
The USDJPY is trading 2 new session lows and is currently down 43 pips at 109.42. The low just reached 109.40
The EURUSD has moved below its 100 day moving average at 1.10667 for the 1st time since December 10. That is more bearish. The pair has moved to a low of 1.10589. That is near the 50% retracement of the move up from the October 2019 low (see chart below).
The GBPUSD is also moving lower and is looking to test the 1.3100. The low price has so far reached 1.31011.
