In Asian Equity Markets indices were mixed on Friday as the number of coronavirus cases in mainland China rose to more than 800, with the death toll increasing to 25. Hong Kong’s Hang Seng index recovered from an earlier slip, rising 0.15%. The Nikkei 225 in Japan was largely flat, with shares of index heavyweight Fast Retailing declining 0.43%. Meanwhile, shares in Australia rose, as the S&P/ASX 200 gained 0.2%. Overall, the MSCI Asia ex-Japan index was 0.17% higher.

 

In Currency Markets the euro hovered near a seven-week low against the dollar on Friday after the European Central Bank was seen as more cautious than expected, while anxiety over China’s coronavirus outbreak propped up the safe-haven yen. The euro changed hands at $1.1055, having touched a seven-week low of $1.1036 on Thursday. The currency flirted with five-week low against the British pound and 33-month low against the Swiss franc.

 

In Commodities Markets oil prices were steady on Friday, but on track for a fall of up to 5% for the week on growing concern that fuel demand will weaken as the spread of a respiratory virus from China that has killed 25 so far dents travel and darkens the economic outlook. Brent crude futures were 4 cents lower to $62 a barrel, its lowest since Dec. 4, after falling 1.9% the previous session. U.S. WTI futures were down by 1 cent to $55.58 a barrel, its lowest since Nov. 29. The contract fell 2% on Thursday and is 5% lower for the week.

 

In US Equity Markets stock indexes fell on Thursday, as mounting worries over a coronavirus outbreak in China and disappointing corporate earnings prompted investors to hit the brakes after a strong start to the year. The S&P 500 edged 0.26% lower to 3,313.19 and the Nasdaq Composite fell 0.14% to 9,371.02. After taking a hit earlier this week on worries about travel demand, airline stocks recovered, with Southwest Airlines Co gaining 2.3% and American Airlines Group Inc rising 1.4% after quarterly earnings.

 

In Bond Markets U.S. Treasury prices rallied on Thursday, pushing yields to multi-week lows, boosted by safe-haven demand on persistent concerns about the impact of the latest coronavirus, which recently broke out in China. U.S. 10-year yields fell to 1.732%, from 1.771% late on Wednesday. Earlier in the session, 10-year yields fell to two-week lows of 1.72%. On the short end of the curve, U.S. two-year yields fell to two-week lows of 1.489% from Wednesday’s 1.526%. They were last at 1.513%.

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