Market Overview

FxPro Daily Insight for January 23

FxPro Daily Insight for January 23

Stock markets remain under pressure due to fears of the Chinese virus outbreak. Futures on Dow Jones have lost 0.6% this week, while Chinese Hang Seng declined 4.2%. Luxury goods manufacturers (Burberry, LVMH) and airlines companies (Air China, Japan Airlines) received the most blow due to demand concerns.

CHF, JPY add to the dollar on safe-heavens demand. AUD moves against the market after the second consecutive strong employment report, that reduced expectations of new rate cuts. CAD lost 0.8% after BoC comments opened the door to imminent rate cuts.

Important events (GMT):

12:45 EA !!! ECB Interest Rate Decision 13:30 EA !! ECB Press Conference 21:45 NZ !!! Consumer Price Index 23:30 Jp !! Consumer Price Index

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